Barnwell Industries Inc. swung to a loss in its fourth quarter and fiscal year due to lower results from its three operating segments and from the year-earlier sale of an oil and natural gas field that had propped up those earnings.

The Honolulu-based company said in a financial report released Wednesday that results for its land investment, contract drilling, and oil and natural gas segments all declined in fiscal 2016 compared with the prior year due to fewer lot sales, decreased water well drilling activity and decreased oil and natural gas prices. Barnwell also recognized a $6.2 million pretax gain a year ago of the sale of the company’s principal oil and natural gas properties in Alberta. Barnwell had no such sales in the just-concluded fiscal year.

Barnwell posted a loss of $1.4 million, or 17 cents a share, in the quarter ended Sept. 30, compared with a profit of $2.8 million, or 34 cents a share, in the year-earlier period.

For the year, Barnwell lost $3.6 million, or 15 cents a share, versus a profit of $1.3 million, or 15 cents, a share in fiscal 2015.

The company said that in fiscal 2016 it also incurred a $1.2 million impairment because of reduced value for its oil and natural gas properties due to low oil and natural gas prices. There was no oil and natural impairment in the prior year.

Barnwell said two significant transactions occurred for the company in fiscal 2016. It said income from affiliates increased more than $1 million in fiscal 2016 compared with the year-earlier period primarily due to the sale for $20 million of one of the two larger lots developed by the Kukio Resort land development partnerships. Barnwell has a 19.6 percent noncontrolling ownership interest in these partnerships. The Kukio Resort sale enabled the partnerships to make a $5.4 million cash distribution to Barnwell during the year.

The other key transaction was that Barnwell’s 80 percent-owned Kaupulehu 2007 LLLP venture realized a $190,000 gain in April after selling the remaining home built by the venture.

Barnwell said it reduced its general and administrative expenses in fiscal 2016 by $2.2 million from the year-earlier period due to cuts in executive pay, a decrease in foreign currency transaction losses, a decrease in professional service fees, a decrease in director fees and a decrease in holding costs related to the Kaupulehu house that was sold in April.

The company also said it closed its New York office in October and has listed it for sale, which should reduce general and administrative expenses and raise working capital.

Barnwell reported last week it will undergo a change of leadership at the end of the month when President Alex Kinzler, 58, replaces his father, Morton, as CEO effective Dec. 31. Morton Kinzler, 91, founded the company in 1956 and has been CEO since 1971. He owns 25 percent of the company and will remain board chairman.

Barnwell’s thinly traded stock closed Thursday down 6 cents at $1.70.