Maui Land & Pineapple Co. Inc. swung to a profit during the second quarter as its community development and agriculture segments produced better financial results compared to a year earlier.

The company, which last week announced it would lay off more than 270 workers, reported net income of $272,000, or three cents a share, in the three months ended June 30.

That compared with a loss of $3.5 million, or 44 cents a share a year earlier.

Maui Land & Pineapple said revenue fell to $17.6 million from $38.7 million a year earlier because of lower real estate sales and the stopping of solid-pack pineapple sales.

The Kahului-based company reported improved financial results at two of its three operating units.

The Community Development segment's operating profit rose to $11 million from $8.1 million a year earlier as profit was recognized from the sales at the Residences at Kapalua Bay project.

The Agricultural segment's operating loss narrowed to $4.6 million from $10.6 million a year earlier, when it had charges related to the restructuring of pineapple operations.

The Resort segment reported worse results in that its operating loss increased to $5.2 million from an operating loss of $2.8 million in the 2007 second quarter. The company said lower visitor arrivals and occupancy, along with higher operational costs, were responsible for the segment's lower results.