Posted at 9:59 a.m., Friday, October 27, 2006
Alexander & Baldwin earnings fall 21% to $27.9 million
Advertiser Staff
Honolulu-based Alexander & Baldwin Inc. today said third quarter earnings fell 21 percent to $27.9 million or 66 cents a share, versus a profit of $35.5 million, or 79 cents a share, in the year-ago quarter.Revenue in the quarter of fell 6 percent from a year ago to $422.9 million.
The company separately announced plans to repurchase of up to 2 million shares of its common stock by Dec. 31, 2008.
A&B owns ocean shipper Matson Navigation Company, real estate developer A&B Properties and food product maker Hawaiian Commercial & Sugar Company and Kauai Coffee Company.
