[en] The optical and infrared luminosity functions are determined for a 60 micron flux-limited sample of 68 IRAS galaxies covering a total area of 150 deg sq. The IR function is in good agreement with that obtained by other authors. The shape of the optical luminosity function is similar to that of optically selected galaxy samples. The integrated light of most objects in the sample have (NII) to H alpha line flux ratios characteristic of HII-region galaxies. In the absolute magnitude range M sub J = -18, -22 about 14% of late-type galaxies are IRAS galaxies. The apparent companionship frequency is about twice as large as that for a comparable sample of non-IRAS late-type galaxies