Maui Land &Pineapple Co. finances swung to a loss in the third quarter as income plunged in the absence of real estate sales.

The Kapalua-based company reported a $484,000 loss Wednesday for the three months ended Sept. 30 compared with a $2.5 million profit in the same period last year.

Maui Land said it didn’t sell any real estate in the recent quarter. Property sales have been a strategy in recent years to generate income after ceasing pineapple production and a downfall in resort development almost a decade ago.

In last year’s third quarter, the company generated a $2.8 million gain by selling some workforce housing.

The company owns 23,000 acres on Maui, and also generates revenue from leasing mainly farmland as well as retail, office and industrial property to others. Maui Land also operates utilities and has some resort amenities.

Revenue from leasing slipped to $1.4 million in the recent quarter from $1.7 million a year earlier. Utility revenue rose to $898,000 from $813,000. And resort amenity revenue slipped to $299,000 from $359,000.

Total revenue, including property sales and commissions, fell about 50 percent in the recent quarter to $2.8 million from $6.1 million a year earlier.

Shares of Maui Land stock closed at $15.80 Wednesday before the earnings announcement. Shares over the last 52 weeks have closed between a $6.55 low on Nov. 14 and a $27.35 high on July 12.