Selling real estate assets produced a profit for Maui Land & Pineapple Co. last year, though the gain was smaller than the year before when the company sold more property.

Maui Land announced Tuesday that it earned $6.8 million last year compared with $17.6 million the year before.

The net income last year was primarily from selling Kapalua Golf Academy and related facilities on 25 acres for $12 million in the third quarter. In the fourth quarter Maui Land reported a $900,000 net loss.

In the 2014 fourth quarter, Maui Land had net income of $18.9 million, primarily from selling 244 acres in West Maui commonly known as Lipoa Point to the state for $19.8 million.

Revenue for the Kapalua-based company was $22.8 million last year, down from $33.3 million the year before. Fourth-quarter revenue was $2.7 million and $23 million for the same respective years.

Warren Haruki, Maui Land’s chairman and CEO, said in a statement that the company, which owns 23,000 acres on Maui, is focused on strengthening its business. “Our team remains committed to being good stewards of the lands we’ve been entrusted for the benefit of our stakeholders and future Maui generations,” he said.