Royal Hawaiian Orchards, L.P. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2012. For the fourth quarter of 2012, the Partnership had a net income of $10,000 on revenues of $9.6 million compared to a net income of $559,000 on revenues of $9.1 million for the fourth quarter of 2011. The lower net income in the fourth quarter of 2012 was mainly attributable to higher general and administrative expenses relating to selling, marketing and administrative costs for Royal. Operating income was $0.199 million against $0.808 million a year ago. Income before tax was $0.058 million against $0.609 million a year ago.

For the year, the company reported a net loss of $499,000 as compared to net income of $712,000 for the year ended December 31, 2011. The net loss in 2012 is primarily the result of $1.0 million in start-up costs related to the development and launch of the Royal Hawaiian Orchards(R) retail brand through its wholly-owned subsidiary, Royal Hawaiian Macadamia Nut Inc. (Royal). The Partnership's farming operations remained profitable, generating net income of $521,000 for the year as compared with $712,000 in 2011. Total 2012 revenue was $20.1 million, an increase of 12% as compared to $18.0 million reported in 2011, with nut sales up 12% and contract farming revenues up 6%. Operating income was $0.046 million against $1.006 million a year ago. Loss before tax was $0.373 million against income of $0.811 million a year ago.

The Partnership announced that the Board of Directors of its general partner, Royal Hawaiian Resources Inc. has declared a cash distribution of two cents ($0.02) per Class A Unit. The distribution will be paid on April 12, 2013 to the unit holders of record as of March 29, 2013.