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The Honolulu Advertiser
Posted on: Monday, May 10, 2010

Land sale, employee benefit cuts help MLP narrows loss

Advertiser Staff

Maui Land & Pineapple Co. reported a slimmed-down loss of $2.7 million in the first three months of this year compared with a $13.2 million loss in the same period last year

The company said a land sale and employee benefit cuts helped to produce the narrowed loss, which came on $10.7 million in revenue for both comparable quarters.

Maui Land's earnings equated to a net loss of 33 cents per common share of stock in the first quarter, compared with a $1.65 per-share net loss in the year-ago quarter.