Maui Land & Pine loses $4.6M in 2nd quarter

Maui Land & Pineapple Co. Inc. lost $4.6 million, or 57 cents per share, in the second quarter of 2010, the company said Monday.

The losses are significantly lower than the $54.2 million, or $6.75 per share, the company lost in the year-earlier period.

Maui Land recorded $8.3 million in revenue for the quarter, compared to $8.7 million in the second quarter of 2009.

In the first half of the year, the company’s net loss was $7.3 million, or 90 cents per share — an improvement from a loss of $67.4 million, or $8.40 per share, for the same period a year ago.

Revenue totaled $19 million from January through June, compared to $19.5 million for the first six months of 2009.

The net loss for the first half of the year includes a $3.4 million credit recognizing the termination of post-retirement benefits earlier this year and a profit before taxes of about $2.5 million from the sale of real estate and part of the company’s former administrative offices in Kahului on Maui.

Maui Land & Pine loses $4.6M in 2nd quarter – Hawaii News – Staradvertiser.com

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