(Aug. 3) Soaring costs for fuel and materials led to quarterly losses at Coral Gables, Fla.-based Del Monte Fresh Produce NA Inc.

Del Monte said Aug. 1 its losses were $17.8 million, or 31 cents per share, in the second quarter, in contrast to net income of $46.5 million, or 80 cents a share, during the same period last year.

Quarterly revenues fell from $922.8 million a year ago to $907.1 million this year.

The company’s gross profit of $71.3 million was 31% short of the year-earlier performance, primarily a result of higher costs for fuel, raw materials, labor, shipping and other factors, said Mohammad Abu-Ghazaleh, the company’s chairman and chief executive officer.

But, he said, Del Monte is taking steps to shore up its bottom line.

“Our ability to increase North America banana contract pricing, our aggressive implementation of cost-cutting programs and our increased strategic investments in our business collectively assisted us in partially offsetting the impact of higher operating costs during the quarter,” he said in a news release.