logo
Share SHARE
FONT-SIZE Plus   Neg

Maui Land & Pineapple Slips To Loss In Q4

Real estate company Maui Land & Pineapple Company, Inc. (MLP) Friday reported a fourth-quarter net loss of $3.5 million or $0.19 per share, compared to net income of $12.0 million or $0.65 per share last year.

Revenues for the quarter declined to $3.5 million from $9.9 million last year.

Warren Haruki, CEO of Maui Land, said, "We simplified our business model by exiting our non-core businesses, we resolved significant legacy issues, and significantly reduced our operating cash burn. Also, thanks to the Maui County Council, we secured the entitlements for our Pulelehua project near the Kapalua Airport."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share. Goldman Sachs is changing the way it reviews the performance of its some 36,500 employees, media reported Thursday, citing two company wide memos. The bank, considered to be a forerunner in formulating employee compensation policy, is looking to scrap a system that rated employees on a scale of 1 to 9. The system is considered to grind down employee morale. Taiwanese electronics assembler Foxconn Technology Group has replaced 60,000 workers at a factory in China with robots, according to a report in the South China Morning Post. However, the company, which is a major supplier to Apple and Samsung, expects to maintain a significant workforce in China.
comments powered by Disqus
Follow RTT