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Increased expenses and one-time sale cut into Maui Land's profits

By Dave Segal

POSTED: 01:30 a.m. HST, Jul 31, 2014

~~<p>Maui Land &amp; Pineapple Co.'s revenue nearly doubled in the second quarter but net income plunged 42.6 percent due to higher expenses and the $4 million sale of a 7-acre parcel in the year-ago period.</p>
<p>The Kapalua-based company reported late Tuesday that it had earnings of $477,000, or 3 cents a share, compared with $831,000, or 4 cents a share, in the second quarter of 2013. Revenue jumped 96 percent to $5 million from $2.6 million.</p>
~~

Maui Land & Pineapple Co.'s revenue nearly doubled in the second quarter but net income plunged 42.6 percent due to higher expenses and the $4 million sale of a 7-acre parcel in the year-ago period.

The Kapalua-based company reported late Tuesday that it had earnings of $477,000, or 3 cents a share, compared with $831,000, or 4 cents a share, in the second quarter of 2013. Revenue jumped 96 percent to $5 million from $2.6 million. Login for more...



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