Tejon Ranch Co. shares gained after the agribusiness and real estate company reported a net loss of $22,000 (0 cents per share) for the third quarter ended Sept. 30, compared to net income of $324,000 (2 cents) for the same period last year.
Revenue for the quarter decreased $1.8 million, or -12 percent, compared to the previous year. The company attributed the decline to the “alternate bearing nature of pistachios” and a warm winter, which reduced the pistachio crop by $4.4 million.
Other farming operations and water sales also declined, but were partially offset by increases in the company’s real estate side, including land sales and grazing rights, the company said.
The company reported results on Thursday. Shares of Tejon Ranch (TRC) closed Friday up $1.14, or 5.8 percent at $20.86 on the New York Stock Exchange.
Losses widened during the third quarter at power supply manufacturer Qualstar Inc. in Simi Valley.
The company reported a net loss of $148,000 (-7 cents a share) for the period ended Sept. 30, compared to a loss of $53,000 (-3 cents) for the same quarter a year ago. Revenue increased 3.3 percent to $2.76 million.
The company reported results on Wednesday. Shares of Qualstar (QBAK) closed Friday up 75 cents, or 8.5 percent, at $9.54 on the Nasdaq.
Trio-Tech International Inc. achieved double-digit gains in earnings and revenue for the third quarter.
The Van Nuys semiconductor testing service reported net income gain of nearly 90 percent to $575,000 (16 cents a share) for the quarter ended Sept. 30, compared to $303,000 (8 cents) for the same period a year ago. Revenue climbed 29.8 percent to $4.77 million.
The company reported results on Thursday. Shares of Trio-Tech (TRT) closed Friday up 30 cents, or 4.7 percent, at $6.70 on the New York Stock Exchange.