Land sales on Hawaii island helped a local company involved in Canadian oil and natural gas production earn a recent quarterly profit.

Honolulu-based Barnwell Industries Inc. announced Wednesday that it earned $584,000 in its fiscal first quarter ended Dec. 31. That compared with a $414,000 loss in the same October-December period the year before.

Barnwell said the turnaround was primarily due to a $1.1 million return on land sales through a joint venture in the Kaupulehu resort area on Hawaii island.

Recent quarter results also reflected increased oil and gas production along with a negative impact from a $630,000 noncash devaluation of Barnwell’s oil and natural gas properties because of a lower 12-month rolling average for oil and natural gas prices.

Shares of Barnwell stock, which are traded on the New York Stock Exchange, closed up 19.5%, or 65 cents, at $3.98 Wednesday after the earnings announcement. Shares over the last 52 weeks have closed between 32 cents and $5.76.