Posted on: Wednesday, February 18, 2004

BUSINESS BRIEFS
Barnwell posts quarterly gains

Advertiser Staff

Barnwell Industries Inc. reported net income of $2.9 million, or $2.10 per share, for the three months to Dec. 31, up from $870,000 or 64 cents a share in the same period a year ago.

The Honolulu-based company, which develops property on the Big Island and invests in Canadian oil production, said earnings rose because of a reduction in Canadian income tax and growth in the land investment segment.