Posted at 12:20 p.m., Tuesday, November 2, 2004
Maui Land shares down
Advertiser Staff
Maui Land & Pineapple Co. reported a net loss of $2.15 million, or 30 cents per share, for the third quarter, compared with a net income of $9.45 million, or $1.31 per share, for the third quarter of 2003.Revenue decreased 31 percent, to $34.7 million, compared with $50.5 million for the third quarter of 2003.
The company said today that lower results from pineapple, resort and commercial property segments were partially offset by improved results from the development portion of its business.
"The pineapple company experienced high-seed development, planting and cultivation costs as we worked to expand our fresh fruit operations," said David Cole, president and CEO.
