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Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, May 17, 2000

Isle water company records bigger loss

Hawaiian Natural Water Co. said today it had a first-quarter net loss of $515,545, or 9 cents a share, 23.8 percent more than $416,548, or 10 cents a share, loss in the year-earlier quarter.

The company said, however, that its losses from operations alone are declining and will continue to lessen through the year. Sales of $1.03 million in the latest three months were more than double the year-earlier quarter's $485,805, the company said. The Honolulu-based company bottles and sells pure spring water from the Big Island, purified water from the Big Island and Oahu public water supply systems, and juice drinks.

Continental leads hike in air fares

HOUSTON -- The on-again, off-again Continental-led airline fare hike is back on again, and analysts expect this one to stick.

After raising business and leisure fares up to $30 a round trip last week, then rolling them back, Houston-based Continental Airlines said yesterday that the higher prices are back in effect. Travelers and travel agents, meanwhile, remain confounded from trying to make sense of the constantly changing rates as the busy summer season begins.

In other news . . .

EL SEGUNDO, Calif. -- Mattel Inc. named Kraft Foods Inc.'s head Robert Eckert as chairman and CEO, hoping he will stem two years of share declines and management departures at the money-losing maker of Barbie dolls. Eckert, 45, replaces Jill Barad, who quit in February under pressure from investors.
SANTA CLARA, Calif. -- Intel Corp., the world's largest computer-chip maker, said it is splitting its shares 2-for-1 and boosting its quarterly dividend by a third. Intel is raising its dividend to 2 cents from 1.5 cents on a post-split basis. The split will occur July 30.
MOUNTAIN VIEW, Calif. -- Handspring Inc., the handheld computer maker started by the people who developed the PalmPilot, plans to raise as much as $220 million, selling stock for $19 to $22 a share in its initial public offering. Handspring applied to trade on Nasdaq under the symbol "HAND."