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Stock impact report

Maui Land & Pineapple Reports 2018 Net Income of $0.6 Million

Maui Land & Pineapple Company, Inc. (MLP) 
US:NYSE Investor Relations: zillow.com/maui-county-hi/land
Company Research Source: GlobeNewswire
KAPALUA RESORT, Hawaii, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE: MLP) reported net income of $0.6 million, or $0.03 per share, for 2018. This compares to net income of $10.9 million, or $0.57 per share, for 2017. The Company reported revenues of $11.0 million and $24.4 million for 2018 and 2017, respectively. For the fourth quarter of 2018, the Company recognized net income of $3.7 million or $0.19 per share. For the fourth quarter of 2017, the Company recognized a net loss of $0.9 million or $(0.05) per share. Operating revenues totaled $2.7 million and $2.5 million during the fourth quarters of 2018 and 2017, respectively. The Company did not have any real estate asset sales during the fourth quarters of 2018 and 2017. During the fourth quarter of 2018, the Company recorded an income tax benefit of $5.0 million for unused Alternative Minimum Tax credit carryforwards which will be refunded under the Tax Cuts and Jobs Act of 2017. Additional Show less Read more
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