BUSINESS BRIEFS
Honua Kai sales net $425 million
Advertiser Staff and News Services
Ka'anapali condo developer Intrawest Corp. said it generated $425 million in sales from the first phase of 318 units at its 700-unit Maui project called Honua Kai.
More than 400 people attended a sales event Friday, paying between $500,000 and $4.5 million for units.
Construction is expected to begin in early next year and be complete in late 2008.
PASSENGER TOTALS UP FOR HAWAIIAN
Hawaiian Airlines flew 488,113 passengers in November, up 11.2 percent from the same month a year earlier, the company announced.
Hawaiian also said it had 565 million revenue passenger miles in November, up 9.3 percent from a year earlier. Available seat miles totaled 632 million for the month, up 6.8 percent from the previous year. Planes flew 89.4 percent full, up from 87.4 percent a year earlier.
BARNWELL POSTS HIGHER EARNINGS
Honolulu-based Barnwell Industries Inc. reported net earnings of $1.8 million, or 21 cents a share, in the quarter ending Sept. 30, compared to net earnings of $870,000, or 10 cents a share, for the same period a year earlier.
For the full fiscal year, Barnwell reported net earnings of $6 million, or 70 cents a share, compared to net earnings of $8.8 million, or $1.03 a share a year earlier. All per share prices are diluted and adjusted for Barnwell's recent three-for-one stock split.
$35.6 BILLION OIL DEAL ANNOUNCED
ConocoPhillips agreed to buy U.S. natural-gas producer Burlington Resources Inc. for $35.6 billion in cash and stock as Chairman James Mulva seeks to bolster reserves and challenge the world's largest oil companies.
ConocoPhillips, the third-biggest U.S. oil and gas producer, is using acquisitions to catch up with Chevron, the No. 2 U.S. oil company, as oil and gas fields become harder to find and more expensive to tap. ConocoPhillips pumped more from reserves last year than it replaced through exploration.
A combined ConocoPhillips and Burlington would be the second-largest U.S. gas producer. ConocoPhillips said it will pay $46.50 in cash and 0.7214 shares for each Burlington share.
