Tag: stock

August 12, 2009 General Ag News and Notes Post a Comment

CALAVO fails marketing goals

Calavo Growers (CVGW) has been added to the Hawaii Agriculture Blog “Hawaii Agriculture and Related Stocks Annual Charts” page to show the contrast of their lack of success in marketing fresh pineapple in California with the success of their stock performance.

Calavo Chairman, President and CEO Lee E. Cole on the favorable implications of the sales marketing and distribution agreement of Maui Gold Pineapple for Calavo

“First, we anticipate that sales of Maui Gold fresh pineapples will contribute $25-30 million in revenues to Calavo’s top line in fiscal 2008, as well as become immediately accretive to earnings.”

calavao-vs-mlp
As opposed to Maui Land and Pineapple Company’s Inc (MLP) filed Quarterly Report (10-Q) for the period ended 2009-06-30.

Revenues for the Agriculture segment decreased by 14%, or $749,000, from $5.3 million for the second quarter of 2008 to $4.5 million for the second quarter of 2009, primarily due to a reduction in pineapple juice sales volume and lower average prices for fresh pineapple. Pineapple juice sales represented approximately 5% of the Agriculture segment revenues in the second quarter of 2009 compared to approximately 13% of Agriculture segment revenues in the second quarter of 2008. The Agriculture segment reported an operating loss of $5.0 million for the second quarter of 2009 compared to an operating loss of $4.6 million for the second quarter of 2008. The operating loss for the second quarter of 2009 includes a charge of $1.9 million representing an adjustment to the fair value less selling costs of our property in Kahului that includes our fresh fruit processing plant. The Kahului property is currently held for sale.

August 6, 2009 General Ag News and Notes Post a Comment

Safeway recalls ground beef sold in nine states – MarketWatch

 

Eat me and you'll blow chunks!
Eat me and you'll blow chunks!
By Jim Jelter, MarketWatch

SAN FRANCISCO (MarketWatch) — Safeway Inc. announced Thursday a major, nine-state recall of salmonella-tainted ground beef sold between June 6 and July 14.

Safeway (SWY) , the giant grocery store chain based in Pleasanton, Calif., said the recall involved 825,769 pounds, or nearly 43 tons, of meat that the company said "may be linked to an outbreak of Salmonellosis."

The U.S. Department of Agriculture said the meat was processed at a Beef Packers Inc. meat-packing plant in Fresno, Calif., and sold in Arizona, California, Colorado, Hawaii, Nebraska, Nevada, New Mexico, South Dakota, and Wyoming.

Beef Packers is a subsidiary of privately-held Cargill, one of the world’s biggest food producers and marketers, with sales last year of $120 billion.

Safeway recalls ground beef sold in nine states – MarketWatch

August 4, 2009 General Ag News and Notes Post a Comment

Maui Land and Pineapple Company Inc Reports Operating Results (10-Q)

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    I Hope there is Pineapple in                Haiku Hawaii Forever!            Click for Larger Image
Maui Land and Pineapple Company Inc (MLP) filed Quarterly Report for the period ended 2009-06-30.

MAUI LAND & PINEAPPLE CO Inc. is committed to the integration of agriculture natural resource management and eco-effective design principles to create and manage holistic communities. MLP’s vision of holistic communities is based on the traditional Hawaiian model of ahupua’a a system of self-reliance based on the artful use of land and water resources to sustain island life indefinitely. MLP is a Hawai’i corporation and successor to a business organized in 1909. Its principal operating subsidiaries are Maui Pineapple Company Ltd. a producer and marketer of Maui-grown pineapple and Kapalua Land Company Ltd. operator of Kapalua Resort a master-planned resort community in West Maui. Maui Land and Pineapple Company Inc has a market cap of $59.1 million; its shares were traded at around $7.25 with and P/S ratio of 0.8. Maui Land and Pineapple Company Inc had an annual average earning growth of 23.6% over the past 5 years.

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May 4, 2009 General Ag News and Notes

Maui Land & Pineapple Reports 2009 1st Quarter Results

Maui Land & Pineapple Company, Inc. (MLP) reported a net loss of $13.2 million or $1.65 per share for the first quarter of 2009 compared to a net loss of $414,000, or $0.05 per share for the first quarter of 2008. Consolidated revenues were $15.6 million for the first quarter of 2009 compared to $25.4 million for the first quarter of 2008, a decrease of 39%. Results in the first quarter of 2009 largely reflect the continuing impact of the national and worldwide economic uncertainty that has resulted in reduced visitor counts to Maui and the State of Hawaii and slower sales of real estate. Approximately $10.5 million of the increase in the net loss resulted from the year-over-year decrease in profit from the Company’s equity investment in Kapalua Bay Holdings LLC. The Company’s $50 million cash sale of the Plantation Golf Course in March 2009 was accounted for as a financing transaction and, accordingly, no gain was recognized in the first quarter of 2009.

The Community Development segment reported an operating loss of $3.2 million for the first quarter of 2009 compared to operating income of $8.1 million for the first quarter of 2008. Revenues from this operating segment were $2.0 million for the first quarter of 2009 compared to $4.6 million for the first quarter of 2008. The Company recorded a loss from Kapalua Bay Holdings, LLC of $1.1 million in the first quarter of 2009 compared to income of $9.4 million in the first quarter of 2008. Lower results in 2009 from the Kapalua Bay equity investment reflect reduced sales for the first quarter of 2009 compared to the first quarter of 2008. Lower results from the Community Development segment in the first quarter of 2009 were also due to no land sales in the first quarter of 2009, compared to the sale of two non-core land parcels in the first quarter of 2008.

The Resort segment reported an operating loss of $4.2 million for the first quarter of 2009 compared to an operating loss of $2.3 million for the first quarter of 2008. Resort segment revenues decreased from $11.7 million in the first quarter of 2008 to $8.6 million for the first quarter of 2009 or 26%, reflecting lower revenues from the primary Resort operations, golf, retail and villas. A reduction in visitor arrivals and occupancy at the Resort was primarily responsible for the lower results in the first quarter of 2009.

The Agriculture segment produced an operating loss of $3.5 million for the first quarter of 2009 compared to an operating loss of $5.1 million for the first quarter of 2008. Revenues from the Agriculture segment decreased by 42% from $8.5 million in the first quarter of 2008 to $4.9 million in the first quarter of 2009 due to lower case volume of fresh pineapple sales. The lower loss in the first quarter of 2009 reflects higher average prices for fresh pineapple and lower operating costs in the Agriculture segment. In addition, the operating loss for the first quarter of 2008 included approximately $0.9 million in equipment write-offs and a provision of $0.9 million for potentially uncollectible accounts receivable.

MAUI LAND & PINEAPPLE COMPANY, INC.
Report of Consolidated Operations
(Unaudited)
(in thousands except per share amounts)
mlploss1
NOTES:
The Company’s reports for interim periods utilize numerous estimates of production, general and administrative expenses, and other costs for the full year. In addition, revenues from land sales are sporadic. Consequently, amounts in the interim reports are not necessarily indicative of results for the full year.
Contacts:
For Maui Land & Pineapple Company, Inc.
Robert I. Webber, 808-877-1674
Fax: 808-877-1614

January 28, 2008 Ag Tourism, General Ag News and Notes

Hawaii Ag-Tourism

Here is the PDF file for the *Hawaii Ag-Tourism* Report.

agtour012808.pdf

Please visit the website for more information: http://www.nass.usda.gov/hi/

————————————————————-
Contact Information:
Mark E. Hudson, Director
USDA NASS Hawaii Field Office
1421 South King Street
Honolulu, HI 96814-2512

Office: (808) 973-9588 / (800) 804-9514
Fax: (808) 973-2909
————————————————————-

Hawaii?s ag-tourism valued at $38.8 million in 2006

The value of Hawaii?s ag-tourism related activities (see definition below) is pegged at $38.8 million for 2006, up 14 percent from the $33.9 million generated in 2003. There were 112 farms statewide that had ag-tourism related income during 2006, a 40 percent decrease from 2003 as fewer agricultural producers in Hawaii have opened-up their operations to visitors to the farm experience through ag-tourism activities. Interest in ag-tourism continues to be strong as 84 farms either are involved in agtourism activities in 2006, or planned to be in the future. The distribution of ag-tourism throughout Hawaii has become more concentrated during the past three years as Hawaii County now accounts for half of the farms with ag-tourism and 34 percent of the total value. Honolulu County had 12 percent of the farms and 37 percent of the total value. Kauai County accounted for 13 percent of the farms and the value was 16 percent of the total. Maui County accounted for 25 percent of the farms and was the only county showing a decline from 2003 with 13 percent of the total value.

Ag-tourism is a commercial enterprise on a working farm conducted for the enjoyment, education, and/or active involvement of the visitor, generating supplemental income for the farm. Activities such as producing and selling products directly from the farm, operating a bed and breakfast, conducting educational farm tours, offering horseback riding, festivals, concerts, and many other on-farm activities qualify as agtourism.

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