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.