ML Macadamia posts 1Q loss
Written on May 10, 2008
ML Macadamia Orchards reported a net loss of $264,000, or 4 cents per share, for the first quarter of 2008.
The Hilo-based company said the loss was a result of lower production, lower nut prices and higher cost of sales. In the same period last year, the company reported a net income of $346,000, or 5 cents per share.
Revenues for the quarter were $3.6 million, compared with revenues of $3.4 million freecreditscore.
The average nut price paid in the first quarter was 67 cents compared with 70 cents per pound in 2007.
Shares of ML Macadamia (NYSE: NUT) closed down nearly 1 percent to $3.50 on Friday.
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