Last $5.98 USD
Change Today -0.049 / -0.81%
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As of 3:12 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

maui land & pineapple co (MLP) Key Developments

Maui Land & Pineapple Company, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Maui Land & Pineapple Company, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the fourth quarter of 2014, the company recognized net income of $18.8 million or $1.00 per share compared to $1.4 million or $0.07 per share a year ago. Operating Revenue was $22.8 million compared to $7.2 million a year ago. For the year, the company reported total operating revenues of $33,007,000 compared to $15,212,000 a year ago. Operating income was $19,905,000 compared to operating loss of $540,000 a year ago. Income from continuing operations net of income taxes was $17,635,000 or $0.94 per basic and diluted share compared to loss from continuing operations net of income taxes of $3,031,000 or $0.16 per basic and diluted share a year ago. Net income was $17,635,000 or $0.94 per basic and diluted share compared to operating loss of $1,164,000 or $0.06 per basic and diluted share a year ago.

Maui Land & Pineapple Company, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Maui Land & Pineapple Company, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net loss of $0.7 million, or $0.04 per basic and diluted share compared to a net loss of $1.6 million, or $0.08 per basic and diluted share for the third quarter of 2013. Revenues were $2.7 million against $2.8 million a year ago. Operating loss was $0.123 million against $0.849 million a year ago. Loss from continuing operations, net of income taxes of was $0.721 million against $1.490 million a year ago. For the nine months, the company reported net loss of $1.2 million, or $0.07 per basic and diluted share, compared to a net loss of $2.5 million, or $0.14 per basic and diluted share, for the nine months ended September 30, 2013. Revenues of $10.2 million against $8.0 million a year ago. Operating income was $595 million against Operating loss of $2.529 million a year ago. Loss from continuing operations, net of income taxes of was $1.072 million against $4.370 million a year ago.

Maui Land & Pineapple Company, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Maui Land & Pineapple Company, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported a net income of $0.477 million or $0.03 per basic and diluted share compared to $0.831 million or $0.04 per basic and diluted share a year ago. Total operating revenues were $5.009 million against $2.556 million a year ago. Operating income was $1.094 million against loss of $0.768 million a year ago. Income from continuing operations, net of income taxes was $0.502 million, or $0.03 per basic and diluted share compared to loss of $1.274 million or $0.07 per basic and diluted share a year ago. For the six months, the company reported a net loss of $0.432 million or $0.02 per basic and diluted share compared to $0.984 million or $0.05 per basic and diluted share a year ago. Total operating revenues were $7.478 million against $5.185 million a year ago. Operating income was $0.718 million against loss of $1.680 million a year ago. Loss from continuing operations, net of income taxes was $0.351 million, or $0.02 per basic and diluted share compared to $2.880 million or $0.15 per basic and diluted share a year ago.

Maui Land & Pineapple Company, Inc. Enters into Loan Agreement with First Hawaiian Bank

On June 6, 2014, Maui Land & Pineapple Company, Inc. entered into a loan agreement with First Hawaiian Bank providing the company with a $3.5 million revolving line of credit for general working capital and corporate purposes. The loan agreement matures on June 5, 2015. Borrowings under the revolving line of credit bear interest at the bank’s prime rate and the credit facility is secured by an approximately 1.1 acre property and building in the Kapalua Resort commonly known as the Honolua Store. In connection with entering into the loan agreement, the company made a $1.9 million pay down to release the Honolua Store from the collateral held under its Wells Fargo Bank credit facility.

Maui Land & Pineapple Company, Inc. Extends Maturity Dates of its Credit Facilities from May 1, 2014 to August 1, 2016

Maui Land & Pineapple Company, Inc. announced that it has extended the maturity dates of its credit facilities with both of its banks from May 1, 2014 to August 1, 2016.

 

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