KAPALUA RESORT, Hawaii, April 26, 2016 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE:MLP) reported a net loss of $1.4 million, or $(0.07) per share, for the first quarter of 2016, compared to a net loss of $1.1 million, or $(0.06) per share for the first quarter of 2015.  The Company reported revenues of $3.0 million and $2.8 million during the first quarters of 2016 and 2015, respectively.

The Company had no sales of real estate assets during the first quarters of 2016 or 2015.

Additional Information

Additional information with respect to Maui Land & Pineapple Company, Inc. and our 1 st quarter 2016 operating results will be available on our Form 10-Q filed with the Securities and Exchange Commission and our website www.mauiland.com.

About Maui Land & Pineapple Company, Inc .

Maui Land & Pineapple Company, Inc. develops, sells, and manages residential, resort, commercial, and industrial real estate.  The Company owns approximately 23,000 acres of land on Maui and manages properties, utilities, and a nature preserve at the Kapalua Resort.
MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES  
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS  
(UNAUDITED)  
             
             
  Three Months Ended March 31,      
    2016       2015        
  (in thousands except      
  per share amounts)      
OPERATING REVENUES            
Real estate $   168     $   112        
Leasing     1,615         1,415        
Utilities     847         817        
Resort amenities and other     346         450        
Total operating revenues     2,976         2,794        
             
OPERATING COSTS AND EXPENSES            
Real estate     300         168        
Leasing     712         532        
Utilities     631         612        
Resort amenities and other     197         213        
General and administrative     754         582        
Share-based compensation     380         549        
Depreciation     495         558        
Pension and other postretirement expenses     284         76        
Total operating costs and expenses     3,753         3,290        
             
OPERATING LOSS     (777 )       (496 )      
Interest expense     (581 )       (597 )      
NET LOSS $   (1,358 )   $   (1,093 )      
Pension, net of income taxes of $0     253         211        
COMPREHENSIVE LOSS $   (1,105 )   $   (882 )      
             
NET LOSS PER COMMON SHARE            
--BASIC AND DILUTED $   (0.07 )   $   (0.06 )      

Contact:Tim T. Esaki(808) 665-5480tesaki@kapalua.com