A&B Reports 2nd Quarter 2005 Net Income of $29.4 Million; Net Income 2% Lower in 2nd Quarter, 17% Higher in 1st Half.
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A&B Reports 2nd Quarter 2005 Net Income of $29.4 Million; Net Income 2% Lower in 2nd Quarter, 17% Higher in 1st Half.
HONOLULU -- Alexander & Baldwin, Inc. (Nasdaq:ALEX) today reported that net income for the second quarter of 2005 was $29,400,000, or $0.66 per fully diluted share. Net income in the second quarter of 2004 was $30,100,000, or $0.70 per fully diluted share. Revenue in the second quarter of 2005 was $392,100,000, compared with revenue of $374,400,000 in the second quarter of 2004.
Net income for the first half of 2005 was $67,100,000, or $1.52 per fully diluted share. Net income in the first half of 2004 was $57,200,000, or $1.33 per fully diluted share. Revenue in the first half of 2005 was $756,700,000, compared with revenue of $715,600,000 in the first half of 2004. COMMENTS ON QUARTER & OUTLOOK "Although our results for the second quarter are slightly below last year, due principally to timing of real estate sales, our two primary businesses are performing quite well," said Allen Doane, president and chief executive officer of A&B. "The second quarter was a good one, with Transportation's operating profit up 24 percent and this key part of the company on track to have an exceptional year. Operating profit from real estate sales was down about two-thirds from strong quarterly performance in 2004, but the ...See the full content of this document
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