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The Honolulu Advertiser
Posted on: Wednesday, January 24, 2007

BUSINESS BRIEFS
Horizon lowers fuel surcharge

Advertiser Staff and News Services

Horizon Lines LLC, the state's No. 2 shipper, said yesterday it will lower its fuel surcharge from 18.75 percent to 17.5 percent beginning Monday because of the continued downward trend in fuel costs.

Horizon's announcement comes a day after Hawai'i's largest cargo provider, Matson Navigation Co., said it would reduce its fuel surcharge by the same amount beginning Sunday. It is Horizon's third consecutive decrease since October.


HOKU ANNOUNCES NET LOSS OF $1.25M

Hoku Scientific Inc., a Kapolei-based technology company, said it swung to a net loss of $1.25 million in the quarter ended Dec. 31 from net income of $202,000 a year earlier.

The company said revenue totaled $1.14 million, compared with $1.73 million in the same period a year ago. Hoku forecast revenue this quarter will range from $1 million to $1.2 million.

It projected a loss to break-even results for this quarter because of spending to increase its customer base and execute plans for entry into the polysilicon and solar module markets.


AFTER LONG DELAY, IHOP SET TO OPEN

An International House of Pancakes restaurant is scheduled to open at Windward Mall Feb. 5 after a more than one-year delay.

IHOP's regular hours will be from 6 a.m. to 10 p.m. Sundays through Thursdays, and from 6 a.m. to midnight Fridays and Saturdays.

The restaurant had initially targeted October 2005 to open, but ran into delays over rising construction costs. A second opening target of early 2006 also was delayed.


EARNINGS DOWN AT D.R. HORTON

Home-builder D.R. Horton Inc. said yesterday its earnings fell sharply in the quarter ending Dec. 31.

D.R. Horton, which operates in Hawai'i as D.R. Horton Schuler Division, earned $109.7 million, or 35 cents a share for the fiscal first quarter, down from $310.1 million, or 98 cents a share in the same quarter a year earlier.