Posted on: Tuesday, December 7, 2004

BUSINESS BRIEFS
Barnwell up 74% in fourth quarter

Advertiser Staff and News Services

Honolulu-based Barnwell Industries reported a 74 percent increase in its fourth-quarter net income, driven by strength in its real-estate and natural-gas businesses.

The company also declared a two-for-one stock split, effective Jan. 28. In the quarter, Barnwell earned $870,000, or 62 cents a share, compared with $500,000, or 36 cents a share, in the like period a year ago. Revenue rose by 48 percent to $8.27 million vs. $5.57 million. For the year, earnings were $8.71 million, or $6.19 a share, compared with $2.32 million, or $1.69.