Maui Land & Pineapple Reports Second Quarter Loss

August 10, 2015, 3:39 PM HST · Updated August 10, 3:41 PM
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Courtesy photo.

Courtesy photo.

By Maui Now Staff

Maui Land & Pineapple Company Inc. reported a net loss of $818,000, or $.04 per share, for the second quarter of 2015, compared to net income of $477,000 or $.03 per share for the second quarter of 2014.

The company reported revenues of $2.8 million and $5.0 million during the second quarters of 2015 and 2014, respectively.

In May 2014, the company sold a four-acre parcel and building that serves as the maintenance facility for the Kapalua Plantation Golf Course for $2.3 million. The sale resulted in a gain of $1.5 million.

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For the six months ending June 30, 2015, the company reported a net loss of $1.9 million or $.10 per share, compared to a net loss of $432,000, or $.02 per share, for the six months ending June 30, 2014.

The company reported revenues of $5.6 million and $7.5 million during the six months ended June 30, 2015, and 2014, respectively.

Additional information with respect to Maui Land & Pineapple Company Inc. can be found online.

Maui Land & Pineapple Company Inc. develops, sells and manages residential, resort, commercial and industrial real estate. The company owns approximately 23,000 acres of land on Maui and manages properties, utilities and a nature preserve at the Kapalua Resort.

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