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Maui Land & Pineapple Company Inc. reports fourth quarter results.

KAHULUI, Hawaii--(BUSINESS WIRE)--Feb. 10, 1995--Maui Land & Pineapple Company Inc. reported a $1.5 million (83 cents per share) net loss for the fourth quarter of 1994 compared to a net loss of $5.9 million ($3.26 per share) for the fourth quarter of 1993.

Revenues for the same period declined by $3.8 million.

For the year 1994 the company had a net loss of $3.9 million ($2.18 per share) compared to a net loss of $11 million ($6.15 per share) for the year 1993. Revenues for 1994 were $125.9 million, a decrease of 4% from the prior year.

The improved net results for the fourth quarter and the year 1994 were principally attributable to cost reductions, in particular by pineapple operations.

The company's pineapple operations reported a decline in revenues for the fourth quarter and full year 1994 resulting from a reduction in case volume of sales and from lower sales prices. However, the operating losses reported by pineapple operations were substantially reduced due to cost cutting efforts.

The Kapalua resort revenue contribution increased in the fourth quarter and the year 1994 as compared to 1993. Recreation and retail operations, The Kapalua Villas and the resort membership program were primarily responsible for the increased revenues in 1994. The fourth quarter of 1994 showed a lower operating loss than the same period in 1993; however, the operating loss for the full year exceeded the prior year's loss.

While the resort ongoing operations were profitable, losses from development-related joint venture investments were responsible for the operating losses for the 1994 fourth quarter and the year.

Commercial & Property reported lower revenues and operating profits for the 1994 fourth quarter and the year, primarily because of condemnation proceeds from the State of Hawaii which were included in 1993. Increased revenues from Kaahumanu Center as a result of the completion of the renovation and expansion in November of 1994 and the sale of certain remnant real estate parcels in 1994, partially offset the decreases.

-0-

 Maui Land & Pineapple Company Inc.
 Report of Consolidated Operations
 (Unaudited)


 Three Months Ended Twelve Months Ended
 December December
 1994 1993 1994 1993


Revenues $35,884,000 $39,683,000 $125,882,000 $131,172,000
Net Loss (1,492,000) (5,870,000) (3,909,000) (11,059,000)
Net Loss Per
 Common Share $ (.83) $ (3.26) $ (2.18) $ (6.15)
Average Common
 Shares
 Outstanding 1,797,125 1,797,125 1,797,125 1,797,125




CONTACT: Maui Land & Pineapple Company Inc.

Paul J. Meyer, 808/877-3871

fax, 808/871-0953
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Publication:Business Wire
Date:Feb 10, 1995
Words:429
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