Kaanapali Land, Llc Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 12, 2020 at 10:32 am EST
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Kaanapali Land, LLC announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 534,000 compared to USD 770,000 a year ago. Net loss was USD 711,000 compared to USD 1.380 million a year ago. For the nine months, total revenue was USD 2.305 million compared to USD 3.463 million a year ago. Net loss was USD 2.428 million compared to USD 2.386 million 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.