Posted at 10:52 a.m., Tuesday, August 5, 2003
Maui Land & Pine loses $4M for quarter
Advertiser Staff
Maui Land & Pineapple Co. Inc. lost $4 million in the second quarter, or nearly double its loss a year ago, as increased expenses eroded small gains in sales.The Kahului-based company said it lost 56 cents a share, in the second quarter, up from 29 cents a share ($2.1 million) a year ago.
Total revenue was up about 8 percent at $36.49 million. The increase in expenses was due in part to management changes, employee layoffs in the Pineapple segment, and pension expense, the company said.
Maui Land & Pine shares fell 14 cents to $22.86 cents in afternoon trading.
