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The Honolulu Advertiser

Posted at 12:11 p.m., Tuesday, February 14, 2006

Barnwell reports record earnings

Advertiser Staff

Barnwell Industries Inc. today reported it earned a record $6.3 million, or 73 cents a share for the last three months of 2005, up from $2.3 million, or 29 cents a share for the same period a year earlier.

Total revenue rose 40 percent to $17.6 million, helped by contributions from natural gas and oil operations, contract drilling and land investment, the Honolulu-based company said. Net earnings from the quarter also included deferred tax benefits of $2.2 million related to foreign tax credit carryforwards that were not present in the same quarter a year earlier.

Natural gas and oil revenue rose 58 percent to $4.4 million, while revenue from land investment increased 78 percent to $2.7 million. Barnwell's shares rose 46 cents to $22.25 in late trading Tuesday on the American Stock Exchange.

Hawaiian Air to add four 767 aircraft

Hawaiian Airlines said today it has signed letters of intent to acquire four additional Boeing 767-300 aircraft, which will bring its long-haul fleet to a total of 18 wide-body aircraft.

The four jets were previously operated by Delta Airlines, which rejected the leases on the aircraft in conjunction with its Chapter 11 bankruptcy reorganization. Hawaiian said it will introduce the aircraft into service after "necessary modification work has been completed." No timetable was set. Each aircraft has 242 seats in coach and 18 in first class.

Hawai'i's first Einstein Bros. bagel store to open at Pearl Harbor

Sodexho will open Hawai'i's first Einstein Bros. bagel store this spring at the Navy base at Pearl Harbor.

Under a five-year contract, Sodexho will renovate an existing cafeteria-style location on the base to make way for the new bagel outlet. Einstein has 373 company-operated and 61 licensed stores in 29 states.