Posted at 11 a.m., Monday, August 13, 2001

Business
Barnwell profits up in quarter

Advertiser Staff

Barnwell Industries Inc., a Honolulu-based oil and exploration company, today reported net earnings of $740,000, or 55 cents a share, up 3 percent for the quarter ended June 30 from $720,000, 53 cents a share, the same quarter a year ago.

Revenues rose to $5.8 million, from $5.2 million.

For the first nine months, the company earned $3.7 million, or $2.68 a share, down from $3.9 million, or $2.88 a share, a year ago. Revenues were down to $19.9 million from $20.9 million.

The company said year-to-date figures as of June 2000 included gains related to selling the right to develop residential parcels in the Four Seasons Resort Hualalai at Ka'upulehu.