 KAPALUA RESORT, Hawaii, Aug. 11, 2020 GLOBE NEWSWIRE -- Maui Land Pineapple Company, Inc. NYSE: MLP reported a net loss of 157,000, or 0.01 per share, for the second quarter of 2020, compared to a net loss of 181,000 million, or 0.01 per share, for the second quarter of 2019. The Company reported total operating revenues of 1.7 million and 2.5 million during the three months ended June 30, 2020 and 2019, respectively.For the six months ended June 30, 2020, the Company reported a net loss of 1.2 million, or 0.06 per share, compared to a net loss of 1.3 million, or 0.07 per share, for the six months ended June 30, 2019. The Company reported total operating revenues of 3.7 million and 4.8 million during the six months ended June 30, 2020 and 2019, respectively.The Company did not have any real estate asset sales during the first two quarters of 2020 or 2019.Additional InformationAdditional information with respect to Maui Land Pineapple Company, Inc. and our operating results will be available on our Form 10-Q filed with the Securities and Exchange Commission and our website Maui Land Pineapple Company, Inc.Maui Land Pineapple Company, Inc. develops, sells, and manages residential, resort, commercial, agricultural 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 SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2020 2019 unaudited audited in thousands except share data ASSETS CURRENT ASSETS Cash340 683 Accounts receivable, less allowance for doubtful accounts of 114 and 35, respectively 1,726 1,173 Prepaid expenses and other assets 146 101 Assets held for sale 7,615 7,597 Total current assets 9,827 9,554 PROPERTY 52,215 52,164 Accumulated depreciation 33,091 32,445 Property, net 19,124 19,719 OTHER ASSETS Deferred development costs 8,504 8,504 Other noncurrent assets 1,253 1,342 Total other assets 9,757 9,846 TOTAL ASSETS38,708 39,119 LIABILITIES STOCKHOLDERS EQUITY CURRENT LIABILITIES Accounts payable521 1,356 Payroll and employee benefits 559 928 Current portion of accrued retirement benefits 165 165 Deferred club membership revenue 312 35 Other current liabilities 633 468 Total current liabilities 2,190 2,952 LONG-TERM LIABILITIES Long-term debt - 1,035 Accrued retirement benefits, net of current portion 9,453 9,702 Deferred license fee revenue 1,834 - Deposits 2,649 2,674 Other noncurrent liabilities 64 64 Total long-term liabilities 14,000 13,475 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS EQUITY Common stock--no par value, 43,000,000 shares authorized, 19,291,102 and 19,238,081 shares issued and outstanding 81,251 80,606 Additional paid-in-capital 9,184 9,184 Accumulated deficit 47,531 46,300 Accumulated other comprehensive loss 20,386 20,798 Total stockholders equity 22,518 22,692 TOTAL LIABILITIES STOCKHOLDERS EQUITY38,708 39,119 MAUI LAND PINEAPPLE COMPANY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOMEUNAUDITED Three Months Ended June 30, 2020 2019 in thousands except per share amounts OPERATING REVENUES Real estate90 209 Leasing1,436 2,038 Resort amenities and other184 248 Total operating revenues1,710 2,495 OPERATING COSTS AND EXPENSES Real estate192 255 Leasing827 714 Resort amenities and other169 208 General and administrative559 510 Share-based compensation402 374 Depreciation323 360 Total operating costs and expenses2,472 2,421 OPERATING INCOME LOSS762 74 Gain on investment894 - Pension and other post-retirement expenses117 256 Interest expense30 63 LOSS FROM CONTINUING OPERATIONS15 245 Income Loss from discontinued operations, net142 64 NET LOSS157 181 Pension, net206 211 COMPREHENSIVE INCOME49 30 EARNINGS LOSS PER COMMON SHARE-BASIC AND DILUTED Loss from Continuing Operations- 0.01 Income Loss from Discontinued Operations0.01 - Net Loss0.01 0.01 MAUI LAND PINEAPPLE COMPANY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSSUNAUDITED Six Months Ended June 30, 2020 2019 in thousands except per share amounts OPERATING REVENUES Real estate158 366 Leasing3,172 3,954 Resort amenities and other414 509 Total operating revenues3,744 4,829 OPERATING COSTS AND EXPENSES Real estate367 521 Leasing1,603 1,439 Resort amenities and other740 533 General and administrative1,318 1,350 Share-based compensation827 972 Depreciation645 722 Total operating costs and expenses5,500 5,537 OPERATING LOSS1,756 708 Gain on investment894 - Pension and other post-retirement expenses234 509 Interest expense76 110 LOSS FROM CONTINUING OPERATIONS1,172 1,327 Income Loss from discontinued operations, net59 52 NET LOSS1,231 1,275 Pension, net412 423 COMPREHENSIVE LOSS819 852 EARNINGS LOSS PER COMMON SHARE-BASIC AND DILUTED Loss from Continuing Operations0.06 0.07 Income Loss from Discontinued Operations- - Net Loss0.06 0.07 Contact: Michael S. Hotta 