That compared with a net loss of a net loss of $27,000 for the same period a year earlier, according to the Hilo-based company. The lower first-quarter harvest was partially offset by a higher nut price estimate of 60.1 cents per pound, up from 55.8 cents for same period a year earlier.

First-quarter revenue totaled $1.5 million, including $600,000 from the sale of one million pounds of macadamia nuts and $923,000 of contract farming revenue. In comparison, revenues in the first quarter of 2005 were $3.1 million: $2.2 million from the sale of 3.6 million pounds of nuts and $888,000 from contract farming.

Hy Adelman leaves Kuilima Resort Company

Hy Adelman, who has headed Kuilima Resort Company for five years, said he is stepping down this summer. He said his family is moving to the Mainland to be closer to a son who will soon enroll in college.

Adelman's work at Kuilima Resort Company, which is developing the Turtle Bay Resort, included guiding the resort's $100 million expansion and refurbishment, as well as the company's plan to further expand the resort.

Nicola Jones, most recently CEO of San Francisco real estate development firm ECOR-SF, will succeed Adelman as CEO in early June.