Updated at 9:47 a.m., Thursday, July 26, 2007
A&B expects 'banner year' as net income rises
Advertiser Staff
Alexander & Baldwin Inc. reported net income rose to $32 million, or 74 cents a share, during the three months ended June 30 as profits were helped by the company's international shipping markets and small gains it its logistics and leasing segments.The profit compared to net earnings of $30.2 million, or 68 cents a share a year earlier.
The Honolulu-based company had been expected to earn 73 cents a share by four financial analysts surveyed by Bloomberg L.P.
"Collectively, these results confirm that our multi-industry, multi-market strategy provides stability and opportunity alike," said Allen Doane, chairman and chief executive officer in a press statement.
"We are poised for a banner year led by future real estate sales and Matson's China service that should result in A&B realizing higher earnings than we previously expected."
