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New York, NY -- (SBWIRE) -- 03/14/2013 -- Dole Food Company Inc. (NYSE:DOLE) announced financial and operating results for the fourth quarter and fiscal year ended December 29, 2012. The consummation of the sale of Dole’s worldwide packaged foods and Asia fresh businesses on April 1, 2013 of ITOCHU Corporation, for $1.685 billion in cash, will result in a major portion of Dole’s operations being sold. The new Dole will have a smaller footprint as a commodity producer company with two lines of fresh produce businesses, which are classified as continuing operations: fresh fruit and fresh vegetables; and will no longer include the worldwide packaged foods and Asia fresh businesses as part of the Dole operations, which are classified as discontinued operations.
For the fourth quarter of 2012 Adjusted EBITDA from continuing operations was $(12) million compared to $11 million in the fourth quarter of 2011. Income (loss) from continuing operations for the fourth quarter of 2012 was $(88) million, or $(0.99) per share, compared to $6 million, or $0.06 per share, in the fourth quarter of 2011. Comparable income (loss) from continuing operations for the fourth quarter of 2012 was a loss of $(52) million, or $(0.59) per share, compared to $4 million, or $0.05 per share, in the fourth quarter of 2011 (see Exhibit 3).
For the full year, Adjusted EBITDA from continuing operations was $146 million compared to $196 million in 2011. Income from continuing operations for fiscal 2012 was $1 million, compared to $102 million, or $1.15 per share in 2011. Comparable income from continuing operations for fiscal 2012 was $44 million, or $0.49 per share, compared to $122 million, or $1.37 per share, in 2011.
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Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) announced after the bell Tuesday that Fusilev sales are now expected to be between $10 million and $15 million for the first quarter, and between $80 million and $90 million for the full year 2013.
Spectrum expects full year 2013 revenues of $160 million to $180 million. The consensus estimate is for revenues of $297.33 million.
Spectrum Pharmaceuticals has gapped open dramatically lower Wednesday and is now down 4.43 at $8.00 on the highest volume in 7 months. The stock has tumbled to a new low for the year.
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