Dole financials

Dole to sell portion of Oahu holdings [Honolulu Star-Bulletin]. I have found it somewhat difficult to obtain financial information on this privately-owned company. Apparently, I haven’t been looking hard enough. Bond yields are currently running around 15%.

Dole Food Co. Inc. plans to sell about 2,000 acres of land on Oahu for approximately $39 million to raise cash for the company, which recorded a $58 million net loss last year.
[snip]
Dole’s $58 million net loss on revenue of $6.9 billion for 2007, is down from a net loss of $90 million on revenue of $6.2 billion in the preceding year, according to its latest SEC filing.

10-K (annual report) filed 3/23/2007. 2006 revenue breakdown looks like this: 65% fresh fruit, 18% fresh vegetables, 15% packaged foods, 3% fresh cut flowers. Guess what I will be reading the rest of this afternoon?

10-K (annual report) filed 3/11/2008.

2 Comments

  • jokah says:

    Dole’s Down And Out [Forbes 2008/03/24]

    S&P also lowered Dole’s unsecured debt issues to CCC+ from B- and on senior secured term loans to B+ from BB. These issues remain on credit watch with negative implications.

  • jokah says:

    Finally got around to finishing the 2006 document today. At a quick glance, it seems that most of the risk in this investment lies in the pending lawsuits against Dole for its use of DBCP in Nicaragua and other countries. Recently, the compensatory damages awarded by a jury to five Nicaraguan farmhands were reduced to $1.58M, and punitive damages of $2.5M were dismissed entirely.

    Judge reduces damages against Dole [Forbes 2008/03/11]

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