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Hawaiian Natural Water
Star-Bulletin staff
lost $2 million in ’99Hawaiian Natural Water Co., which has lost money since going public in May 1997, reported a loss of $2 million, or 45 cents a share, for its fiscal year that ended Dec. 31. However, that was an improvement from the loss of $3.3 million, or 83 cents a share, reported for the previous year.
The Honolulu-based packer and seller of drinking water and flavored-water beverages said the 1999 loss included a noncash item of $416,000 for preferred stock dividends.
Annual sales were up 69.4 percent at $3.05 million for 1999 compared with $1.8 million for 1998, the company said. The company did not report figures for the fourth quarter only. The company's over-the-counter shares rose 15 cents, or 16 percent, to $1.06 today. During 1999, the company bought a Kona-based bottler and retailer of purified water, Ali'i Water Bottling Co. Last month, Hawaiian Natural bought a similar business on Oahu, Aloha Water Co. Hawaiian Natural began commercial production in 1995 of its main line of business, pure water taken from a spring deep below Mauna Loa on the Big Island.
