Kaanapali Land, LLC Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 02:21 pm EST
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Kaanapali Land, LLC announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was USD 770,000 compared to USD 650,000 a year ago. Operating loss was USD 1.966 million compared to USD 756,000 a year ago. Net loss was USD 1.380 million compared to USD 719,000 a year ago. Basic loss per share was USD 0.75 compared to USD 0.39 a year ago. For the nine months, total revenue was USD 3.463 million compared to USD 4.996 million a year ago. Operating loss was USD 3.063 million compared to USD 1.810 million a year ago. Net loss was USD 2.386 million compared to USD 1.972 million a year ago. Basic loss per share was USD 1.29 compared to USD 1.07 a year ago.
Kaanapali Land, LLC operates through two segments: Property and Agriculture. The Agriculture segment is primarily engaged in farming, harvesting and milling operations relating to coffee orchards pursuant to farming agreements with the LOA and a related entity. The Company also cultivates, harvests and sells bananas and citrus fruits and engages in certain ranching operations. The Property segment primarily develops land for sale and negotiates bulk sales of undeveloped land. The Property and Agriculture segments operate exclusively in the State of Hawaii. The Company's developable lands are located on the west side of the Island of Maui in the State of Hawaii. The majority of the developable lands are located near to the Kaanapali resort area. Its agricultural operations consist primarily of cultivation, milling and sale of coffee. The Company sells milled green coffee under the brand name Mauigrown Coffee mainly to interisland Hawaii customers.
KAANAPALI LAND, LLC 
