Royal Hawaiian Orchards (NNUTU) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 10, 2017
Document Information [Line Items]
Entity Registrant Name	ROYAL HAWAIIAN ORCHARDS, L.P.
Entity Central Index Key	792,161
Trading Symbol	nnutu
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		22,200,000
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 10,777	$ 1,132
Accounts receivable, net	2,817	3,215
Inventories, net	7,610	10,293
Other current assets	393	418
Total current assets	21,597	15,058
Land, orchards and equipment, net	47,478	48,490
Other non-current assets	227	308
Total assets	69,302	63,856
Liabilities and partners’ capital
Current portion of long-term debt, net	988	13,155
Accounts payable	828	781
Accrued payroll and benefits	1,211	760
Other current liabilities	83	208
Total current liabilities	3,110	14,904
Non-current benefits	654	732
Long-term debt, net of current portion	8,433	10,164
Deferred income tax liability	1,014	1,014
Total liabilities	13,211	26,814
Commitments and contingencies
Statement of Partners' Capital [Abstract]
General and limited partners	56,319	37,270
Accumulated other comprehensive loss	(228)	(228)
Total partners’ capital	56,091	37,042
Total liabilities and partners’ capital	$ 69,302	$ 63,856

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues
Revenues	[1]	$ 6,009	$ 7,566	$ 21,932	$ 19,420
Cost of revenues
Cost of orchards revenue		1,998	774	4,775	2,655
Cost of branded product sales		2,943	5,000	13,707	12,108
Total cost of revenues		4,941	5,774	18,482	14,763
Gross profit		1,068	1,792	3,450	4,657
General and administrative expenses		611	720	2,330	2,084
Selling expenses		452	947	1,467	3,069
Operating income (loss)		5	125	(347)	(496)
Net loss on sale of property and equipment				(10)	(4)
Other income		290	189	261	374
Interest expense		(121)	(313)	(696)	(898)
Net income (loss) before income taxes		174	1	(792)	(1,024)
Income tax expense		13	18	15	119
Net income (loss)		161	(17)	(807)	(1,143)
Other comprehensive income (loss), net of tax
Pension costs			1		5
Other comprehensive income, net of tax			1		5
Comprehensive income (loss)		$ 161	$ (16)	$ (807)	$ (1,138)
Net income (loss) per Class A Unit (in dollars per share)		$ 0.01	$ 0	$ (0.05)	$ (0.10)
Cash distributions per Class A Unit (in dollars per share)
Weighted average Class A Units outstanding (in shares)		22,200	11,100	16,711	11,100
Orchards [Member]
Revenues
Revenues	[1]	$ 2,168	$ 727	$ 5,357	$ 3,398
Cost of revenues
Operating income (loss)		(104)	(518)	(655)	1,541
Branded Products [Member]
Revenues
Revenues	[1],[2]	3,841	6,839	16,575	16,022
Cost of revenues
Operating income (loss)		$ 70	$ (150)	$ 407	$ (1,558)
[1]	All revenues are from sources within the United States of America, Canada and Asia.
[2]	Branded products revenue is reported net of slotting fees, trade discounts and promotional allowances.

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Partners' Capital (Unaudited) - USD ($) $ in Thousands	Total	AOCI Attributable to Parent [Member]	General Partner [Member]	Limited Partner [Member]
Partners' capital at Dec. 31, 2015	$ 38,721	$ (321)	$ 39,042
Proceeds from sale of general partner interest	224		224
Partner's capital issued for cash
Allocation of net income (loss):
Allocation of net loss	(1,143)		(1,143)
Accumulated other comprehensive income
Change in pension and severance	5	5
Partners' capital at Sep. 30, 2016	37,807	(316)	38,123
Partners' capital at Jun. 30, 2016	37,823	(317)	38,140
Proceeds from sale of general partner interest
Partner's capital issued for cash
Allocation of net income (loss):
Allocation of net loss	(17)		(17)
Accumulated other comprehensive income
Change in pension and severance	1	1
Partners' capital at Sep. 30, 2016	37,807	(316)	38,123
Partners' capital at Dec. 31, 2016	37,042	(228)	37,270
Proceeds from sale of general partner interest
Partner's capital issued for cash	19,856		201	19,655
Allocation of net income (loss):
Allocation of net loss	(807)		(807)
Accumulated other comprehensive income
Change in pension and severance
Partners' capital at Sep. 30, 2017	56,091	(228)	56,319
Partners' capital at Jun. 30, 2017	55,930	(228)	56,158
Proceeds from sale of general partner interest
Partner's capital issued for cash
Allocation of net income (loss):
Allocation of net loss	161		161
Accumulated other comprehensive income
Change in pension and severance
Partners' capital at Sep. 30, 2017	$ 56,091	$ (228)	$ 56,319

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Partners' Capital (Unaudited) (Parentheticals) - Limited Partner [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Class A limited partner units, outstanding (in shares)	11,100,000		11,100,000
Class A limited partner units, fees	$ 214		$ 214

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (807)	$ (1,143)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,351	2,307
Amortization of debt issance costs	47	31
Net loss on sale of property and equipment	10	4
Change in pension and severance		6
Accounts receivable	398	398
Inventories	2,683	(357)
Other current assets	25	(535)
Non-current assets
Accounts payable	47	(573)
Accrued payroll and benefits	451	147
Other current liabilities	(205)	(335)
Total adjustments	5,807	1,093
Net cash provided by (used in) operating activities	5,000	(50)
Cash flows from investing activities:
Capital expenditures	(1,266)	(167)
Net cash used in investing activities	(1,266)	(167)
Cash flows from financing activities:
Proceeds from sale of general partner interest		224
Proceeds from rights offering	19,869
Payment of rights offering fees	(214)
Proceeds from issuance of general partner interest	201
Proceeds from drawings on line of credit	400	4,000
Repayment of line of credit	(6,750)	(2,000)
Repayment of long-term debt	(7,595)	(1,652)
Net cash provided by financing activities	5,911	572
Net increase in cash	9,645	355
Cash and cash equivalents at beginning of period	1,132	404
Cash and cash equivalents at end of period	10,777	759
Supplemental disclosure of cash flow information:
Cash paid for interest for the periods ended September 30, 2017 and 2016 was $827,000 and $885,000, respectively.	827	885
Cash paid for income taxes for the periods ended September 30, 2017 and 2016 was $11,000 and $94,000, respectively.	$ 11	$ 94

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	( 1 BASIS OF PRESENTATION Royal Hawaiian Orchards, L.P. (the “Partnership”) is a master limited partnership organized in 1986 Inc. (the “Managing Partner” or “RHR”). The accompanying unaudited condensed consolidated financial statements of the Partnership and its subsidiaries RHR (through June 2016), September 30, 2017, December 31, 2016, three nine September 30, 2017 2016, nine September 30, 2017 2016. three nine September 30, 2017 not The December 31, 2016 ’s Annual Report on Form 10 December 31, 2016 ( “2016 not 2016 The Partnership ’s business has historically been highly seasonal, reflecting the general pattern of peak harvest and sales of macadamia nuts during the fourth January 2015, 70%

Note 2 - Consolidation

Note 2 - Consolidation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 2 CONSOLIDATION The consolidated financial statements include the accounts of the Partnership and its subsidiaries. All significant intercompany balances and transactions have been eliminated. On June 30, 2016, June 30, 2016, not

Note 3 - New Accounting Standar

Note 3 - New Accounting Standards	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	( 3 NEW ACCOUNTING STANDARDS In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016 13, 326 . December 15, 2019, In February 2016, 2016 02, 842 12 December 15, 2018, In November 2015, 2015 17, 740 2015 17 first 2017, not ’s financial condition, results of operations or cash flows. In July 2015, 2015 11, 330 2015 11 2015 11 first 2017, not ’s financial condition, results of operations or cash flows. In May 2014, 2014 09, 606 August 2015, 2015 14, 606 one 2014 09 December 15, 2017, The Partnership will adopt this guidance in the first 2018 not

Note 4 - Segment Information

Note 4 - Segment Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 4 SEGMENT INFORMATION The Partnership ’s two Management evaluates the performance of each segment on the basis of operating income and revenue growth. The Partnership accounts for intersegment sales and transfers at a predetermined rate that includes cost plus a margin, and such transactions are eliminated in consolidation. The following tables summarize each reportable segment ’s revenues, operating income or loss, assets and other information as of and for the three nine September 30, 2017 2016. not Three Months Ended September 30, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 2,168 $ 3,841 (2) $ - $ 6,009 Intersegment revenue 2,836 - (2,836 ) - Total revenue $ 5,004 $ 3,841 $ (2,836 ) $ 6,009 Operating (loss) income $ (104 ) $ 70 $ 39 $ 5 Depreciation and amortization $ 772 $ 24 $ - $ 796 Capital expenditures $ 747 $ - $ - $ 747 Segment assets $ 78,165 $ 4,689 $ (13,552 ) $ 69,302 Three Months Ended September 30, 2016 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 727 $ 6,839 (2) $ - $ 7,566 Intersegment revenue 389 - (389 ) - Total revenue $ 1,116 $ 6,839 $ (389 ) $ 7,566 Operating (loss) income $ (518 ) $ (150 ) $ 793 $ 125 Depreciation and amortization $ 745 $ 23 $ - $ 768 Capital expenditures $ 31 $ - $ - $ 31 Segment assets $ 73,439 $ 8,257 $ (17,669 ) $ 64,027 Nine Months Ended September 30, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 5,357 $ 16,575 (2) $ - $ 21,932 Intersegment revenue 11,572 - (11,572 ) - Total revenue $ 16,929 $ 16,575 $ (11,572 ) $ 21,932 Operating (loss) income $ (655 ) $ 407 $ (99 ) $ (347 ) Depreciation and amortization $ 2,285 $ 66 $ - $ 2,351 Capital expenditures $ 1,261 $ 5 $ - $ 1,266 Segment assets $ 78,165 $ 4,689 $ (13,552 ) $ 69,302 Nine Months Ended September 30, 2016 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 3,398 $ 16,022 (2) $ - $ 19,420 Intersegment revenue 10,658 - (10,658 ) - Total revenue $ 14,056 $ 16,022 $ (10,658 ) $ 19,420 Operating income (loss) $ 1,541 $ (1,558 ) $ (479 ) $ (496 ) Depreciation and amortization $ 2,239 $ 68 $ - $ 2,307 Capital expenditures $ 108 $ 59 $ - $ 167 Segment assets $ 73,439 $ 8,257 $ (17,669 ) $ 64,027 ( 1 ( 2

Note 5 - Inventories

Note 5 - Inventories	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 5 INVENTORIES Inventories consisted of the following (in thousands): September 30, 2017 December 31, 2016 Orchard Branded Product Total Orchard Branded Product Total Wet-in-shell $ 360 $ - $ 360 $ 919 $ - $ 919 Dry-in-shell 3,143 - 3,143 4,527 - 4,527 Macadamia nut kernel - 1,433 1,433 - 2,362 2,362 Finished goods - 1,391 1,391 - 1,902 1,902 Farming supplies 114 - 114 135 - 135 Packaging, supplies and ingredients - 510 510 - 584 584 Allowance for shrink and obsolescence - (77 ) (77 ) - (136 ) (136 ) Total inventory, net $ 3,617 $ 3,257 $ 6,874 $ 5,581 $ 4,712 $ 10,293 Deferred farming cost $ 736 $ - $ 736 $ - $ - $ - Total inventory and deferred farming costs, net $ 4,353 $ 3,257 $ 7,610 $ 5,581 $ 4,712 $ 10,293 Orchard costs (e.g., irrigation, fertilizer, pruning and depreciation) related to nuts sold under nut purchase contracts and services provided under farming contracts were expensed to cost of revenues based on management ’s estimate of the costs expected to be incurred to produce macadamia nuts sold during the interim reporting period, with the difference between costs incurred-to-date and costs expensed-to-date included in inventory as deferred farming costs. Deferred farming costs historically accumulate during the first second December 31, 2016, not

Note 6 - Land, Orchards, and Eq

Note 6 - Land, Orchards, and Equipment	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 6 LAND, ORCHARDS AND EQUIPMENT Land, orchards and equipment, stated at cost, consisted of the following (in thousands): September 30, December 31, 2017 2016 Land $ 10,808 $ 10,745 Improvements 2,440 2,016 Machinery and equipment 11,911 11,891 Irrigation well and equipment 2,613 2,615 Producing orchards 76,073 76,073 Construction work-in-progress 642 - Land, orchards and equipment (gross) 104,487 103,340 Less accumulated depreciation and amortization (57,009 ) (54,850 ) Land, orchards and equipment (net) $ 47,478 $ 48,490

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 7 INCOME TAXES The Partnership is subject to a gross income tax as a result of its election to continue to be taxed as a partnership rather than as a corporation, as allowed by the Taxpayer Relief Act of 1997. 3.5% Royal is subject to taxation as a C corporation at the current federal tax rate of 35% 6.9% ’s taxable income (loss). As a result of the cumulative tax losses of Royal, the balance of the Partnership’s deferred tax asset at September 30, 2017, $3.5 100%

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 DEBT As of the indicated dates, the Partnership had the following long-term debt outstanding (in thousands): September 30, December 31, 2017 2016 Long-Term Debt Revolving Credit Facility (due 2020) (1) $ 1,800 $ 8,150 2015 Bridge Loan - 2,835 2010 Term Loan (due 2020) - 3,762 2015 6-Year Term Loan (due 2021) 3,062 3,792 2015 20-Year Term Loan (due 2035) 4,673 4,936 Other - 7 Total principal amount of long-term debt 9,535 23,482 Less: unamortized debt issuance costs (114 ) (163 ) Total long-term debt, net of unamortized loan fees 9,421 23,319 Less: current portion of long-term debt, net (988 ) (13,155 ) Long-Term Debt, net of associated unamortized loan fees $ 8,433 $ 10,164 ________________________ ( 1 On July 13, 2017, July 15, 2020. The following table summarizes the Partnership ’s principal maturities of its debt (in thousands): Payments Due by Period Total 2017 (1) 2018 2019 2020 2021 Remaining Debt $ 9,535 $ 146 $ 1,138 $ 1,138 $ 2,938 $ 555 $ 3,620 _________________________ ( 1 For remainder of 2017 Credit Agreement with AgCredit PCA On March 27, 2015, June 2016), may may On July 13, 2017, result, the PCA Credit Agreement was amended to (i) delete references to certain loans that were paid in full in May 2017, ( three three 8 July 17, 2017, 10 June 30, 2017. Set forth below is a summary of the borrowings provided for by the PCA Credit Agreement: Revolving Credit Facility. The PCA Credit Agreement provides for a $9 July 15, 2017 July 15, 2020. one one 0.50% The Wall Street Journal 0.375% September 30, 2017, 5.25% As of September 30, 2017 December 31, 2016, $1.8 $8.15 2010 The PCA Credit Agreement governed a 2010 $10.5 July 1, 2020 “2010 2010 6.5% March 27, 2015. 6.0% 2010 May 2017. December 31, 2016, 2010 $3.762 2015 6 The PCA Credit Agreement provides for a six $5.25 March 27, 2021 “2015 6 2015 6 4.01% 2015 6 1 2 September 30, 2017 December 31, 2016, 2015 6 $3.062 $3.792 2015 In connection with the June 2015 736 641 $2.835 “2015 July 15, 2017, 2015 three one 0.75% one one 0.5% The Wall Street Journal September 1, 2016, 2015 1.00%. April 15, 2017, 2015 1.25%. 2015 June 16, 2015, 2015 May 2017. The borrowings pursuant to the PCA Credit Agreement are collateralized by all of the personal and real property assets of the Borrowers, including a second Credit Agreement with AgCredit FLCA A lso in connection with the Becker Property Acquisition, the Partnership entered into a Credit Agreement, effective June 15, 2015 ( may $5.265 20 July 1, 2035 “2015 20 2015 20 5.29% not 4.0 1.0 September 30, 2017. 2015 20 2015 20 September 30, 2017 December 31, 2016, 2015 20 $4.673 $4.936

Note 9 - Fair Value Measurement

Note 9 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 9 FAIR VALUE MEASUREMENTS Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Accounting guidance requires disclosures about how fair value is determined for assets and liabilities and establishes a hierarchy by which these assets and liabilities must be grouped based on the types of inputs in measuring fair value as follows: Level 1: Quoted prices in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or Level 3: Unobservable inputs in which there is little or no There were no Level 3 – Debt The inputs used in determining the fair value of the bridge and term loans and Revolving Credit Facility are classified as Level 3 The carrying value of the Revolving Credit Facility approximates its fair value due to the variability of the interest rate and frequency that the interest rate resets on the line of credit. The estimated fair value of the Partnership ’s bridge loan and term loans was determined using a discounted cash flow model with similar terms and remaining maturities to that of the current financial instruments. The Partnership has not The estimated fair values of the Partnership ’s debt instruments are as follows (in thousands): September 30, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 7,735 $ 7,718 $ 15,332 $ 15,123 Revolving credit facility 1,800 1,800 8,150 8,150 $ 9,535 $ 9,518 $ 23,482 $ 23,273

Note 10 - Partners' Capital

Note 10 - Partners' Capital	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Partners' Capital Notes Disclosure [Text Block]	( 10 PARTNERS’ CAPITAL Net losses are allocated 1% 99% The Partnership successfully concluded its rights offering on May 9, 2017. 11.1 $1.79 $19.869 May 15, 2017, 22.2 $201,000 1%

Note 11 - Pension Plan

Note 11 - Pension Plan	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	( 11 PENSION PLAN The Partnership sponsors a defined benefit pension plan covering employees who are members of a union bargaining unit. The Partnership ’s funding policy is to contribute an amount to the plan sufficient to meet the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974. The components of net periodic pension cost consisted of the following (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Service cost $ 15 $ 16 $ 46 $ 49 Interest cost 18 17 54 50 Expected return on plan assets (18 ) (16 ) (53 ) (49 ) Amortization of net actuarial loss and prior service cost - 1 - 5 Net periodic pension cost $ 15 $ 18 $ 47 $ 55

Note 12 - Intermittent Severanc

Note 12 - Intermittent Severance Plan	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	( 12 INTERMITTENT SEVERANCE PLAN The Partnership sponsors a defined intermittent severance benefit plan covering employees who are members of a union bargaining unit and not The components of net periodic intermittent severance cost consisted of the following (in thousands): Intermittent Severance Plan Cost Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Service cost $ 4 $ 4 $ 12 $ 12 Interest Cost 3 4 10 10 Net periodic intermittent severance cost $ 7 $ 8 $ 22 $ 22

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 13 COMMITMENTS AND CONTINGENCIES The Partnership is involved in various commercial claims, litigation and other legal proceedings that arise in the ordinary course of its business. The Partnership assesses these claims in an effort to determine the degree of probability and loss for potential accrual in its financial statements. In accordance with ASC 450, may Edmund C. Olson, as Trustee of The Edmund C. Olson Trust No. 2 On February 14, 2017, No. 2 August 21, 1985 ( January 22, 2015, 609 February 15, 2017, July 1, 2017, 16 Subsequent Events 8 2016 The settlement will be reflected in the financial statements beginning in the quarter when the exchange of land and orchards has been completed. The Partnership is currently evaluating the net impact of this transaction.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016 13, 326 . December 15, 2019, In February 2016, 2016 02, 842 12 December 15, 2018, In November 2015, 2015 17, 740 2015 17 first 2017, not ’s financial condition, results of operations or cash flows. In July 2015, 2015 11, 330 2015 11 2015 11 first 2017, not ’s financial condition, results of operations or cash flows. In May 2014, 2014 09, 606 August 2015, 2015 14, 606 one 2014 09 December 15, 2017, The Partnership will adopt this guidance in the first 2018 not

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 2,168 $ 3,841 (2) $ - $ 6,009 Intersegment revenue 2,836 - (2,836 ) - Total revenue $ 5,004 $ 3,841 $ (2,836 ) $ 6,009 Operating (loss) income $ (104 ) $ 70 $ 39 $ 5 Depreciation and amortization $ 772 $ 24 $ - $ 796 Capital expenditures $ 747 $ - $ - $ 747 Segment assets $ 78,165 $ 4,689 $ (13,552 ) $ 69,302 Three Months Ended September 30, 2016 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 727 $ 6,839 (2) $ - $ 7,566 Intersegment revenue 389 - (389 ) - Total revenue $ 1,116 $ 6,839 $ (389 ) $ 7,566 Operating (loss) income $ (518 ) $ (150 ) $ 793 $ 125 Depreciation and amortization $ 745 $ 23 $ - $ 768 Capital expenditures $ 31 $ - $ - $ 31 Segment assets $ 73,439 $ 8,257 $ (17,669 ) $ 64,027 Nine Months Ended September 30, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 5,357 $ 16,575 (2) $ - $ 21,932 Intersegment revenue 11,572 - (11,572 ) - Total revenue $ 16,929 $ 16,575 $ (11,572 ) $ 21,932 Operating (loss) income $ (655 ) $ 407 $ (99 ) $ (347 ) Depreciation and amortization $ 2,285 $ 66 $ - $ 2,351 Capital expenditures $ 1,261 $ 5 $ - $ 1,266 Segment assets $ 78,165 $ 4,689 $ (13,552 ) $ 69,302 Nine Months Ended September 30, 2016 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues (1) External customers $ 3,398 $ 16,022 (2) $ - $ 19,420 Intersegment revenue 10,658 - (10,658 ) - Total revenue $ 14,056 $ 16,022 $ (10,658 ) $ 19,420 Operating income (loss) $ 1,541 $ (1,558 ) $ (479 ) $ (496 ) Depreciation and amortization $ 2,239 $ 68 $ - $ 2,307 Capital expenditures $ 108 $ 59 $ - $ 167 Segment assets $ 73,439 $ 8,257 $ (17,669 ) $ 64,027

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2017 December 31, 2016 Orchard Branded Product Total Orchard Branded Product Total Wet-in-shell $ 360 $ - $ 360 $ 919 $ - $ 919 Dry-in-shell 3,143 - 3,143 4,527 - 4,527 Macadamia nut kernel - 1,433 1,433 - 2,362 2,362 Finished goods - 1,391 1,391 - 1,902 1,902 Farming supplies 114 - 114 135 - 135 Packaging, supplies and ingredients - 510 510 - 584 584 Allowance for shrink and obsolescence - (77 ) (77 ) - (136 ) (136 ) Total inventory, net $ 3,617 $ 3,257 $ 6,874 $ 5,581 $ 4,712 $ 10,293 Deferred farming cost $ 736 $ - $ 736 $ - $ - $ - Total inventory and deferred farming costs, net $ 4,353 $ 3,257 $ 7,610 $ 5,581 $ 4,712 $ 10,293

Note 6 - Land, Orchards, and 23

Note 6 - Land, Orchards, and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2017 2016 Land $ 10,808 $ 10,745 Improvements 2,440 2,016 Machinery and equipment 11,911 11,891 Irrigation well and equipment 2,613 2,615 Producing orchards 76,073 76,073 Construction work-in-progress 642 - Land, orchards and equipment (gross) 104,487 103,340 Less accumulated depreciation and amortization (57,009 ) (54,850 ) Land, orchards and equipment (net) $ 47,478 $ 48,490

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	September 30, December 31, 2017 2016 Long-Term Debt Revolving Credit Facility (due 2020) (1) $ 1,800 $ 8,150 2015 Bridge Loan - 2,835 2010 Term Loan (due 2020) - 3,762 2015 6-Year Term Loan (due 2021) 3,062 3,792 2015 20-Year Term Loan (due 2035) 4,673 4,936 Other - 7 Total principal amount of long-term debt 9,535 23,482 Less: unamortized debt issuance costs (114 ) (163 ) Total long-term debt, net of unamortized loan fees 9,421 23,319 Less: current portion of long-term debt, net (988 ) (13,155 ) Long-Term Debt, net of associated unamortized loan fees $ 8,433 $ 10,164
Schedule of Maturities of Long-term Debt [Table Text Block]	Payments Due by Period Total 2017 (1) 2018 2019 2020 2021 Remaining Debt $ 9,535 $ 146 $ 1,138 $ 1,138 $ 2,938 $ 555 $ 3,620

Note 9 - Fair Value Measureme25

Note 9 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	September 30, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 7,735 $ 7,718 $ 15,332 $ 15,123 Revolving credit facility 1,800 1,800 8,150 8,150 $ 9,535 $ 9,518 $ 23,482 $ 23,273

Note 11 - Pension Plan (Tables)

Note 11 - Pension Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Service cost $ 15 $ 16 $ 46 $ 49 Interest cost 18 17 54 50 Expected return on plan assets (18 ) (16 ) (53 ) (49 ) Amortization of net actuarial loss and prior service cost - 1 - 5 Net periodic pension cost $ 15 $ 18 $ 47 $ 55

Note 12 - Intermittent Severa27

Note 12 - Intermittent Severance Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Service cost $ 15 $ 16 $ 46 $ 49 Interest cost 18 17 54 50 Expected return on plan assets (18 ) (16 ) (53 ) (49 ) Amortization of net actuarial loss and prior service cost - 1 - 5 Net periodic pension cost $ 15 $ 18 $ 47 $ 55
Intermittent Severance Plan [Member]
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Intermittent Severance Plan Cost Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Service cost $ 4 $ 4 $ 12 $ 12 Interest Cost 3 4 10 10 Net periodic intermittent severance cost $ 7 $ 8 $ 22 $ 22

Note 4 - Segment Information (D

Note 4 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2017
Number of Reportable Segments	2

Note 4 - Segment Information -

Note 4 - Segment Information - Reportable Segments (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Revenues	[1]	$ 6,009	$ 7,566	$ 21,932	$ 19,420
Revenues	[1]	6,009	7,566	21,932	19,420
Operating (loss) income		5	125	(347)	(496)
Depreciation and amortization		796	768	2,351	2,307
Capital expenditures		747	31	1,266	167
Segment assets		69,302	64,027	69,302	64,027	$ 63,856
Revenues1
Revenues	[1]	6,009	7,566	21,932	19,420
Revenues	[1]	6,009	7,566	21,932	19,420
Operating (loss) income		5	125	(347)	(496)
Depreciation and amortization		796	768	2,351	2,307
Capital expenditures		747	31	1,266	167
Segment assets		69,302	64,027	69,302	64,027	$ 63,856
Intersegment Eliminations [Member]
Revenues	[1]
Revenues	[1]
Revenues1
Revenues	[1]
Revenues	[1]
Operating Segments [Member]
Revenues	[1]	6,009	7,566	21,932	19,420
Revenues	[1]	6,009	7,566	21,932	19,420
Revenues1
Revenues	[1]	6,009	7,566	21,932	19,420
Revenues	[1]	6,009	7,566	21,932	19,420
Orchards [Member]
Revenues	[1]	2,168	727	5,357	3,398
Revenues	[1]	2,168	727	5,357	3,398
Operating (loss) income		(104)	(518)	(655)	1,541
Depreciation and amortization		772	745	2,285	2,239
Capital expenditures		747	31	1,261	108
Segment assets		78,165	73,439	78,165	73,439
Revenues1
Revenues	[1]	2,168	727	5,357	3,398
Revenues	[1]	2,168	727	5,357	3,398
Operating (loss) income		(104)	(518)	(655)	1,541
Depreciation and amortization		772	745	2,285	2,239
Capital expenditures		747	31	1,261	108
Segment assets		78,165	73,439	78,165	73,439
Orchards [Member] | Intersegment Eliminations [Member]
Revenues	[1]	2,836	389	11,572	10,658
Revenues	[1]	2,836	389	11,572	10,658
Revenues1
Revenues	[1]	2,836	389	11,572	10,658
Revenues	[1]	2,836	389	11,572	10,658
Orchards [Member] | Operating Segments [Member]
Revenues	[1]	5,004	1,116	16,929	14,056
Revenues	[1]	5,004	1,116	16,929	14,056
Revenues1
Revenues	[1]	5,004	1,116	16,929	14,056
Revenues	[1]	5,004	1,116	16,929	14,056
Branded Products [Member]
Revenues	[1],[2]	3,841	6,839	16,575	16,022
Revenues	[1],[2]	3,841	6,839	16,575	16,022
Operating (loss) income		70	(150)	407	(1,558)
Depreciation and amortization		24	23	66	68
Capital expenditures				5	59
Segment assets		4,689	8,257	4,689	8,257
Revenues1
Revenues	[1],[2]	3,841	6,839	16,575	16,022
Revenues	[1],[2]	3,841	6,839	16,575	16,022
Operating (loss) income		70	(150)	407	(1,558)
Depreciation and amortization		24	23	66	68
Capital expenditures				5	59
Segment assets		4,689	8,257	4,689	8,257
Branded Products [Member] | Intersegment Eliminations [Member]
Revenues	[1]
Revenues	[1]
Revenues1
Revenues	[1]
Revenues	[1]
Branded Products [Member] | Operating Segments [Member]
Revenues	[1]	3,841	6,839	16,575	16,022
Revenues	[1]	3,841	6,839	16,575	16,022
Revenues1
Revenues	[1]	3,841	6,839	16,575	16,022
Revenues	[1]	3,841	6,839	16,575	16,022
Consolidation Reconciliation [Member]
Revenues	[1]
Revenues	[1]
Operating (loss) income		39	793	(99)	(479)
Depreciation and amortization
Capital expenditures
Segment assets		(13,552)	(17,669)	(13,552)	(17,669)
Revenues1
Revenues	[1]
Revenues	[1]
Operating (loss) income		39	793	(99)	(479)
Depreciation and amortization
Capital expenditures
Segment assets		(13,552)	(17,669)	(13,552)	(17,669)
Consolidation Reconciliation [Member] | Intersegment Eliminations [Member]
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues1
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Consolidation Reconciliation [Member] | Operating Segments [Member]
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues1
Revenues	[1]	(2,836)	(389)	(11,572)	(10,658)
Revenues	[1]	$ (2,836)	$ (389)	$ (11,572)	$ (10,658)
[1]	All revenues are from sources within the United States of America, Canada and Asia.
[2]	Branded products revenue is reported net of slotting fees, trade discounts and promotional allowances.

Note 5 - Inventories - Summary

Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Macadamia nut kernel	$ 1,433	$ 2,362
Finished goods	1,391	1,902
Farming supplies	114	135
Packaging, supplies and ingredients	510	584
Allowance for shrink and obsolescence	(77)	(136)
Total inventory, net	6,874	10,293
Deferred farming cost	736
Inventories, net	7,610	10,293
Orchards [Member]
Macadamia nut kernel
Finished goods
Farming supplies	114	135
Packaging, supplies and ingredients
Allowance for shrink and obsolescence
Total inventory, net	3,617	5,581
Deferred farming cost	736
Inventories, net	4,353	5,581
Branded Products [Member]
Macadamia nut kernel	1,433	2,362
Finished goods	1,391	1,902
Farming supplies
Packaging, supplies and ingredients	510	584
Allowance for shrink and obsolescence	(77)	(136)
Total inventory, net	3,257	4,712
Deferred farming cost
Inventories, net	3,257	4,712
Nut In Shell [Member]
Nut-in-shell	360	919
Nut In Shell [Member] | Orchards [Member]
Nut-in-shell	360	919
Nut In Shell [Member] | Branded Products [Member]
Nut-in-shell
Dry In Shell [Member]
Nut-in-shell	3,143	4,527
Dry In Shell [Member] | Orchards [Member]
Nut-in-shell	3,143	4,527
Dry In Shell [Member] | Branded Products [Member]
Nut-in-shell

Note 6 - Land, Orchards and Equ

Note 6 - Land, Orchards and Equipment - Land, Orchards, and Equipment, Stated at Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Land, orchards and equipment, gross	$ 104,487	$ 103,340
Less accumulated depreciation and amortization	(57,009)	(54,850)
Land, orchards and equipment (net)	47,478	48,490
Land [Member]
Land, orchards and equipment, gross	10,808	10,745
Land Improvements [Member]
Land, orchards and equipment, gross	2,440	2,016
Machinery and Equipment [Member]
Land, orchards and equipment, gross	11,911	11,891
Irrigation Well And Equipment [Member]
Land, orchards and equipment, gross	2,613	2,615
Producing Orchards [Member]
Land, orchards and equipment, gross	76,073	76,073
Construction in Progress [Member]
Land, orchards and equipment, gross	$ 642

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Gross Income Tax Rate For Partnership	3.50%
Deferred Tax Assets, Gross	$ 3.5
Royal Hawaiian Macadamia Nut Inc [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	6.90%
Valuation Allowance As Percentage Of Deferred Tax Asset	100.00%

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) $ in Thousands		Jul. 13, 2017	Apr. 15, 2017	Jun. 15, 2015USD ($)	Sep. 30, 2016	Sep. 30, 2017USD ($)a	Dec. 31, 2016USD ($)	May 27, 2016USD ($)	Jun. 29, 2015	Mar. 31, 2015	Mar. 27, 2015USD ($)
Long-term Debt, Gross						$ 9,535	$ 23,482
Long-term Debt						$ 9,535	23,482
Geyser Asset Management Inc [Member] | Keaau Hawaii [Member]
Area of Land | a						736
Land With Macadamia Nut Trees and Windbreak Trees [Member] | Keaau Hawaii [Member]
Area of Land | a						641
The 2015 20-Year Term Loan [Member]
Long-term Debt, Gross						$ 4,673	4,936
The 2010 Term Loan [Member]
Long-term Debt, Gross							3,762
Long-term Debt							3,762
The 2015 6-year Term Loan [Member]
Long-term Debt, Gross						3,062	3,792
Bridge Loan [Member]
Long-term Debt, Gross	[1]						2,835
American Ag Credit [Member] | The 2015 20-Year Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity											$ 9,000
American Ag Credit [Member] | The 2015 6-year Term Loan [Member]
Debt Instrument, Term						6 years
American Ag Credit [Member] | The 2015 6-year Term Loan [Member] | Second Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage						4.01%
Long-term Debt						$ 3,062	3,792
American Ag Credit [Member] | Bridge Loan [Member]
Long-term Debt, Gross				$ 2,835
American Ag Credit [Member] | Bridge Loan [Member] | Base Rate [Member]
Debt Instrument, Base Rate, Percentage in Excess of Federal Funds Rate				0.50%
Debt Instrument, Basis Spread on Variable Rate			1.25%	0.75%	1.00%
American AgCredit, FLCA [Member]
Maximum Consolidated EBITDA Ratio Required by Credit Agreement						4
American AgCredit, FLCA [Member] | The 2015 20-Year Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage				5.29%
Long-term Debt				$ 5,265		$ 4,673	4,936
Revolving Credit Facility [Member]
Line of Credit Facility, Interest Rate at Period End						5.25%
Long-term Line of Credit						$ 1,800	$ 8,150
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Commitment Fee Percentage						0.375%
Revolving Credit Facility [Member] | American AgCredit, PCA [Member]
Line of Credit Facility, Expiration Period		3 years
Revolving Credit Facility [Member] | American Ag Credit [Member]
Debt Instrument, Base Rate, Percentage in Excess of Federal Funds Rate						0.50%
Long-term Debt, Gross								$ 10,500
Debt Instrument, Interest Rate, Stated Percentage									6.00%	6.50%
[1]	On July 13, 2017, the maturity date was extended to July 15, 2020.

Note 8 - Debt - Long-term Debt

Note 8 - Debt - Long-term Debt Outstanding (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Long-term Debt, Gross		$ 9,535	$ 23,482
Less: unamortized debt issuance costs		(114)	(163)
Total long-term debt, net of unamortized loan fees		9,421	23,319
Current portion of long-term debt		(988)	(13,155)
Long-term debt, net of current portion		8,433	10,164
Line of Credit [Member]
Long-term Debt, Gross	[1]	1,800	8,150
Bridge Loan [Member]
Long-term Debt, Gross	[1]		2,835
The 2010 Term Loan [Member]
Long-term Debt, Gross			3,762
The 2015 6-year Term Loan [Member]
Long-term Debt, Gross		3,062	3,792
The 2015 20-Year Term Loan [Member]
Long-term Debt, Gross		4,673	4,936
BOH [Member]
Long-term Debt, Gross			$ 7
[1]	On July 13, 2017, the maturity date was extended to July 15, 2020.

Note 8 - Debt - Maturities of L

Note 8 - Debt - Maturities of Long-term Debt (Details) $ in Thousands	Sep. 30, 2017USD ($)
Total	$ 9,535
2,017	146	[1]
2,018	1,138
2,019	1,138
2,020	2,938
2,021	555
Remaining	$ 3,620
[1]	For remainder of 2017

Note 9 - Fair Value Measureme36

Note 9 - Fair Value Measurements - Estimated Fair Values of Financial Instrument (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Long-term Debt	$ 9,535	$ 23,482
Long-term debt, fair value	9,518	23,273
Long-term Debt Excluding Line of Credit [Member]
Long-term Debt	7,735	15,332
Long-term debt, fair value	7,718	15,123
Line of Credit [Member]
Long-term Debt	1,800	8,150
Long-term debt, fair value	$ 1,800	$ 8,150

Note 10 - Partners' Capital (De

Note 10 - Partners' Capital (Details Textual) - USD ($) $ / shares in Units, shares in Millions	May 15, 2017	May 09, 2017	Sep. 30, 2017	Sep. 30, 2016
Net Loss, Percent Allocated to General Partner			1.00%
Net Loss, Percentage Allocated to Class A Unit Holders			99.00%
Proceeds from Rights Offering			$ 19,869,000
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	1.00%
General Partner [Member]
Partners' Capital Account, Contributions	$ 201,000
Limited Partners Class A Units [Member]
Limited Partners' Capital Account, Units Outstanding	22.2
Rights to Purchase Class A Units [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		11.1
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1.79
Proceeds from Rights Offering		$ 19,869,000

Note 11 - Pension Plan - Compon

Note 11 - Pension Plan - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Amortization of net actuarial loss and prior service cost		$ (1)		$ (5)
Pension Plan [Member]
Service cost	15	16	46	49
Interest cost	18	17	54	50
Expected return on plan assets	(18)	(16)	(53)	(49)
Amortization of net actuarial loss and prior service cost		1		5
Net periodic pension cost	$ 15	$ 18	$ 47	$ 55

Note 12 - Intermittent Severa39

Note 12 - Intermittent Severance Plan - Components of Net Periodic Intermittent Severance Cost (Details) - Intermittent Severance Plan [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Service cost	$ 4	$ 4	$ 12	$ 12
Interest cost	3	4	10	10
Net periodic pension cost	$ 7	$ 8	$ 22	$ 22