Posted at 2:08 p.m., Friday, March 2, 2007
Maui Land & Pineapple loses $1.5M in 4th quarter
Advertiser Staff
Maui Land & Pineapple Co. lost $1.5 million, or 20 cents a share, in the fourth quarter of last year, due largely to poor performance in the company's agriculture business.The loss compared to net income of $4.8 million, or 67 cents a share in the same quarter a year earlier.
Revenues for the fourth quarter were $46.5 million, down from $53.2 million for the fourth quarter of 2005. The agriculture business produced an operating loss of $8.9 million for the fourth quarter of 2006 compared to an operating loss of $4.2 million for the fourth quarter of 2005.
For all of 2006, the company earned $7.2 million, down from $14.6 million in 2005.
