Posted at 12:50 p.m., Monday, February 14, 2005
BUSINESS BRIEFS
Carlyle Group investors earn $5.3 billion
Advertiser Staff
Washington, D.C.-based The Carlyle Group today reported that it returned $5.3 billion to investors last year on deals that included the $650 million sale of shipper Horizon Lines LLC. The investment firm did not disclose its rate of return, but historically has had a gross return on realized corporate investments of more than 30 percent a year.Carlyle is in the process of purchasing telephone company Verizon Hawaii for $1.65 billion.
During 2004 Carlyle said it raised $7.8 billion and invested $2.7 billion.
Barnwell Industries net earnings fall
Honolulu-based Barnwell Industries reported net earnings of $2.44 million, or 86 cents per share for the quarter ended Dec. 31, 2004, down from $2.91 million, or $1.05 per share in the same period a year earlier.
All per-share information is adjusted to reflect a two-for-one stock split in the form of a 100 percent stock dividend paid on Jan. 28.
Net earnings for the year-earlier quarter were higher because they included $1.54 million in non-cash deferred tax benefits due to reductions in Canadian corporate income tax rates, the company said in a press release. Those benefits were not included in the current quarter.
Earnings before taxes in the current quarter were $3.77 million, up 59 percent from $2.36 million in the same period a year earlier. The increase was due mainly to an increase in operating profits from oil and natural gas operations.
