Royal Hawaiian Orchards (NNUTU) 10-Q 2004 Q3 Quarterly report

Exhibit 11.1

ML MACADAMIA ORCHARDS, L.P.

Computation of Net Income (loss) per Class A Unit (unaudited)

(in thousands, except per unit data)

	Three months ended September 30,						Nine months ended September 30,
	2004			2003			2004			2003
Net income (loss)	$	(817	)	$	(9	)	$	(1,073	)	$	(337	)
Class A Unitholders (ownership percentage)	x99		%	x99		%	x99		%	x99		%
Net income (loss) allocable to Class A Unitholders	$	(808	)	$	(9	)	$	(1,062	)	$	(333	)
Class A Units outstanding	7,500			7,500			7,500			7,500
Net income (loss) per Class A Unit	$	(0.11	)	$	(0.00	)	$	(0.14	)	$	(0.04	)

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