Quark Chief's Nuts Yield Poor Return

Macworld UK–Quark chief’s nuts yield poor return

Quark CEO Fred Ebrahimi’s fam­i­ly nut hold­ings dropped in val­ue yes­ter­day after sales slipped.

Ebrahimi and fam­i­ly holds 12 per cent of the shares in Macadamia Orchards–Hawaii’s biggest macadamia nuts grow­er. Macadamia Orchards announced a five per cent drop in its nuts rev­enues for its third quar­ter yesterday.

The com­pa­ny report­ed third quar­ter loss of $9,000 on total rev­enues of $5.2 mil­lion; the com­pa­ny report­ed a net income of $43,000 on $5.1 mil­lion rev­enues in the year-ago quarter.

The val­ue of Ebrahimi’s nuts is expect­ed to rebound in the next quar­ter, despite con­tin­ued dry­ness and a five per cent decline in nut pro­duc­tion, claims the StarBulletin.