Updated at 3:48 p.m., Friday, April 13, 2007
ML Macadamia Orchards' earnings rise slightly in '06
Advertiser Staff
ML Macadamia Orchards L.P. said full-year earnings rose $33,000 to $804,000, or 11 cents a Class A share in 2006 from the previous year.Revenues fell $324,000 to $17.1 million. The company attributed the earnings improvement to higher nut prices. The results were for the year ended Dec. 21.
ML Macadamia is in the process of acquiring competitor MacFarms Hawaii.
Hilo-based ML Macadamia Orchards recently requested more time to file its annual report with the U.S. Securities and Exchange Commission. The company said it needed extra time to analyze the impact on "previously filed financial statements of an unrecorded liability for severance pay that was assumed on May 1, 2000, in connection with a purchase transaction."
