A&B reports 3Q net income of $25.7M

HONOLULU (AP) - Alexander & Baldwin Inc. is reporting it had net third quarter income of $25.7 million, compared to $8.5 million in the same quarter last year.

The Honolulu-based company says revenue in the latest quarter amounted to $444.3 million, up from $371 million in the third quarter of 2009.

For the first nine months of 2010, A&B had a net income of $71.9 million, compared to a net income of $24.1 million over the first nine months of last year.

A&B President and CEO Stanley M. Kuriyama attributed the year-over-year performance to subsidiary Matson Navigation Co.'s strong performance in China and improved agribusiness results.

Matson's shipping service linking China and Long Beach, Calif., was expanded in September.

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