Royal Hawaiian Orchards (NNUTU) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 11, 2018
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	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 12,061	$ 9,355
Marketable securities	2,803
Accounts receivable, net	3,141	5,659
Inventories, net	5,581	5,335
Other current assets	557	376
Current assets of discontinued operations	97	1,564
Total current assets	24,240	22,289
Land, orchards and equipment, net	47,972	46,926
Other non-current assets	177	192
Noncurrent assets of discontinued operations		65
Total assets	72,389	69,472
Liabilities and partners’ capital
Current portion of long-term debt, net	1,015	1,015
Accounts payable	743	948
Accrued payroll and benefits	821	690
Other current liabilities	396	187
Current liabilities of discontinued operations	516	367
Total current liabilities	3,491	3,207
Non-current benefits	739	739
Long-Term Debt, net of associated unamortized loan fees	6,142	6,430
Deferred income tax liability	960	1,014
Total liabilities	11,332	11,390
Commitments and contingencies
Partners’ capital
General and limited partners	61,288	58,313
Accumulated other comprehensive loss	(231)	(231)
Total partners’ capital	61,057	58,082
Total liabilities and partners’ capital	$ 72,389	$ 69,472

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Revenue	$ 5,035	$ 7,116
Cost of revenues
Cost of orchards revenue	1,456	1,878
Cost of branded product sales	2,333	4,147
Total cost of revenues	3,789	6,025
Gross profit	1,246	1,091
General and administrative expenses	536	443
Selling expenses	39	162
Operating income	671	486
Net Gain (loss) on sale of property and equipment	380
Other income	18	126
Unrealized loss - marketable securities	(380)
Interest expense, net	(68)	(262)
Net income before income taxes	621	350
Income tax expense	34	5
Net income from continuing operations	587	345
Income (loss) from discontinued operations, net of tax	2,388	(728)
Net income (loss)	2,975	(383)
Other comprehensive income (loss), net of tax
Pension costs
Other comprehensive income, net of tax
Comprehensive income (loss)	$ 2,975	$ (383)
Net income per Class A Unit - Continuing Operations (in dollars per share)	$ 0.03	$ 0.03
Net income (loss) per Class A Unit - Discontinued Operations (in dollars per share)	0.11	(0.07)
Net income (loss) per Class A Unit (in dollars per share)	0.13	(0.03)
Cash distributions per Class A Unit (in dollars per share)
Weighted average Class A Units outstanding (in shares)	22.2	11.1
Orchards [Member]
Revenues
Revenue	$ 1,908	$ 2,170
Cost of revenues
Operating income	204	(109)
Branded Products [Member]
Revenues
Revenue	3,127	4,946
Cost of revenues
Operating income	$ 455	$ 625

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Partners' Capital (Unaudited) - USD ($) $ in Thousands	Total	AOCI Attributable to Parent [Member]	General Partner [Member]
Partners' capital at Dec. 31, 2016	$ 37,042	$ (228)	$ 37,270
Allocation of net income (loss):
Allocation of net loss	(383)		(383)
Partners' capital at Mar. 31, 2017	36,659	(228)	36,887
Partners' capital at Dec. 31, 2017	58,082	(231)	58,313
Allocation of net income (loss):
Allocation of net loss	2,975		2,975
Partners' capital at Mar. 31, 2018	$ 61,057	$ (231)	$ 61,288

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 2,975	$ (383)
Income (loss) from discontinued operations, net of tax	2,388	(728)
Net income from continuing operations	587	345
Adjustments to reconcile net income from continuing operations to net cash used in operating activities:
Depreciation and amortization	786	771
Amortization of debt issance costs	3	6
Net gain on sale of property and equipment	(380)
Unrealized loss on marketable securities	380
Changes in assets and liabilities:
Accounts receivable	2,518	(1,074)
Inventories	(246)	831
Other current assets	(181)	(260)
Non-current assets	(4)
Accounts payable	(205)	200
Accrued payroll and benefits	131	236
Accrued expenses & other	155	71
Total adjustments	2,957	781
Net cash provided by operating activities - continuing operations	3,544	1,126
Net cash provided by operating activities - discontinued operations	945	52
Net cash provided by operating activities	4,489	1,178
Cash flows from investing activities:
Capital expenditures	(301)	(16)
Purchase of orchard	(1,135)
Net cash used in investing activities - continuing operations	(1,436)	(16)
Net cash used in investing activities - discontinued operations	(56)	(4)
Net cash used in investing activities	(1,492)	(20)
Cash flows from financing activities:
Proceeds from drawings on line of credit	750
Repayment of line of credit	(750)	(500)
Repayment of long-term debt	(291)	(777)
Net cash provided by financing activities	(291)	(1,277)
Net increase (decrease) in cash	2,706	(119)
Cash and cash equivalents at beginning of period	9,355	1,132
Cash and cash equivalents at end of period	$ 12,061	$ 1,013

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash paid for interest	$ 101	$ 291
Cash paid for income taxes	$ 22	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018, December 31, 2017, three March 31, 2018 2017, three March 31, 2018 2017. three March 31, 2018 not The December 31, 2017 10 December 31, 2017 ( “2017 not 2017 The Partnership’s business has historically been highly seasonal, reflecting the general pattern of peak harvest during the fourth Divestiture of Brands and Snack Business On March 14, 2018, not 11,220,242 13%

Note 2 - Consolidation

Note 2 - Consolidation	3 Months Ended
	Mar. 31, 2018
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.

Note 3 - Discontinued Operation

Note 3 - Discontinued Operations	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	( 3 DISCONTINUED OPERATIONS On March 14, 2018, The assets and liabilities, operating results, and cash flows related to the brands and snack business are presented as discontinued operations, separate from our continuing operations, for all periods presented in these condensed consolidated financial statements and footnotes. The major components of assets and liabilities of our discontinued operations were as follows: March 31, December 31, (in thousands) 2018 2017 Current assets Accounts receivable, net 97 461 Inventories, net - 1,084 Other current assets - 19 Total current assets of discontinued operations $ 97 $ 1,564 Equipment, net - 52 Other non-current assets - 13 Total noncurrent assets of discontinued operations $ - $ 65 Current liabilities Accounts payable 482 225 Accrued payroll and benefits 34 139 Other current liabilities - 3 Total current liabilities of discontinued operations $ 516 $ 367 The income from discontinued operations as reported on our condensed consolidated statements of operations were comprised of the following amounts: Three months ended March 31, (in thousands) 2018 2017 Net revenue $ 2,407 $ 988 Cost of branded product sales 1,445 954 Gross profit 962 34 General and administrative expenses 134 258 Selling expenses 323 428 Operating income (loss) 505 (652 ) Loss on disposal of equipment - (5 ) Other expense (2 ) (36 ) Interest expense, net (8 ) (35 ) Net income (loss) before income taxes 495 (728 ) Income tax expense - - Net income (loss) from discontinued operations 495 (728 ) Gain on disposal of discontinued operations: Gain on sale of brands and snack business 1,893 - Income (loss) from discontinued operations, net of tax $ 2,388 $ (728 )

Note 4 - New Accounting Standar

Note 4 - New Accounting Standards	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	( 4 NEW ACCOUNTING STANDARDS The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017 01, Business Combinations (Topic 805 December 15, 2017, not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, In February 2016, No. 2016 02, Leases 12 December 15, 2018, In January 2016, No. 2016 01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825 No. 2016 01 No. 2016 01 No. 2016 01 first 2018 No. 2016 01 not In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 August 2015, No. 2015 14, Revenue from Contracts with Customers (Topic 606 one No. 2014 09 December 15, 2017, first 2018 not

Note 5 - Segment Information

Note 5 - Segment Information	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 5 SEGMENT INFORMATION The Partnership’s two Management evaluates the performance of each segment on the basis of operating income and top line 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 March 31, 2018 2017. not Three Months Ended March 31, 2018 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues External customers $ 1,908 $ 3,127 $ - $ 5,035 Intersegment revenue 3,377 - (3,377 ) - Total revenue $ 5,285 $ 3,127 $ (3,377 ) $ 5,035 Operating income $ 204 $ 455 $ 12 $ 671 Depreciation and amortization $ 780 $ 6 $ - $ 786 Capital expenditures $ 1,436 $ - $ - $ 1,436 Segment assets $ 81,481 $ 5,512 $ (14,604 ) $ 72,389 Three Months Ended March 31, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues External customers $ 2,170 $ 4,946 $ - $ 7,116 Intersegment revenue 3,620 - (3,620 ) - Total revenue $ 5,790 $ 4,946 $ (3,620 ) $ 7,116 Operating (loss) income $ (109 ) $ 625 $ (30 ) $ 486 Depreciation and amortization $ 761 $ 10 $ - $ 771 Capital expenditures $ 16 $ - $ - $ 16 Segment assets $ 71,432 $ 6,488 $ (15,504 ) $ 62,416

Note 6 - Revenue Recognition

Note 6 - Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 6 REVENUE RECOGNITION The Partnership revenues result from the sale of products or services and reflect the consideration to which the Partnership expects to be entitled. Revenue is recorded based on a five 606, Revenue from Contracts with Customers 606” 60 not not The Partnership evaluates its business using the Segment information and does not 5,

Note 7 - Inventories

Note 7 - Inventories	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 7 INVENTORIES Inventories consisted of the following (in thousands): March 31, 2018 December 31, 2017 Orchard Branded Product Total Orchard Branded Product Total Wet-in-shell $ 123 $ - $ 123 $ - $ - $ - Dry-in-shell 3,299 - 3,299 3,355 - 3,355 Macadamia nut kernel - 1,736 1,736 - 1,849 1,849 Farming supplies 177 - 177 131 - 131 Inventory Reserve (100 ) - (100 ) - - - Total inventory, net $ 3,499 $ 1,736 $ 5,235 $ 3,486 $ 1,849 $ 5,335 Deferred farming cost $ 346 $ - $ 346 $ - $ - $ - Total inventory and deferred farming costs, net $ 3,845 $ 1,736 $ 5,581 $ 3,486 $ 1,849 $ 5,335 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 March 31, 2018, not

Note 8 - Land, Orchards and Equ

Note 8 - Land, Orchards and Equipment	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 8 LAND, ORCHARDS AND EQUIPMENT Land, orchards and equipment, stated at cost, consisted of the following (in thousands): March 31, December 31, 2018 2017 Land $ 13,076 $ 10,808 Improvements 2,711 2,456 Machinery and equipment 12,497 12,397 Irrigation well and equipment 2,613 2,613 Producing orchards 72,665 76,073 Construction work-in-progress 302 263 Land, orchards and equipment (gross) 103,864 104,610 Less accumulated depreciation and amortization (55,892 ) (57,684 ) Land, orchards and equipment (net) $ 47,972 $ 46,926

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 9 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% HMNC is subject to taxation as a C corporation at the current federal tax rate of 21% 6.0% March 31, 2018, $1.3 100%

Note 10 - Debt

Note 10 - Debt	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 DEBT As of the indicated dates, the Partnership had the following long-term debt outstanding (in thousands): March 31, December 31, 2018 2017 Long-Term Debt Revolving Credit Facility (due 2020) (1) $ - $ - 2015 6-Year Term Loan (due 2021) 2,625 2,844 2015 20-Year Term Loan (due 2035) 4,541 4,607 Other 98 105 Total principal amount of long-term debt 7,264 7,556 Less: unamortized debt issuance costs (107 ) (111 ) Total long-term debt, net of unamortized loan fees 7,157 7,445 Less: current portion of long-term debt, net (1,015 ) (1,015 ) Long-Term Debt, net of associated unamortized loan fees $ 6,142 $ 6,430 ( 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 2018 (1) 2019 2020 2021 2022 Remaining Debt $ 7,264 $ 735 $ 1,167 $ 1,169 $ 564 $ 272 $ 3,357 _________________________ ( 1 2018 Credit Agreement with AgCredit PCA On March 27, 2015, June 2016), may may On July 13, 2017, 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. $9 July 15, 2017 July 15, 2020. one one 0.50% The Wall Street Journal 0.375% March 31, 2018, 5.25% As of March 31, 2018 December 31, 2017, no 2015 6 six $5.25 March 27, 2021 “2015 6 2015 6 4.01% 2015 6 1 2 March 31, 2018 December 31, 2017, 2015 6 $2.625 $2.844 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 June 2015 736 641 Credit Agreement with AgCredit FLCA Also 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 March 31, 2018 December 31, 2017, 2015 20 $4.541 $4.607

Note 11 - Fair Value Measuremen

Note 11 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 11 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 1 Management determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations each reporting period. Debt securities that the Partnership does not The following table provides information on the assets measured at fair value on a recurring basis as of March 31, 2018 ( Fair Value Cost / Other Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Marketable Securities $ 2,803 $ 3,182 $ 2,803 $ - $ - $ 2,803 $ 3,182 $ 2,803 $ - $ - There were no March 31, 2017. Level 3 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): March 31, December 31, 2018 2017 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 7,264 $ 7,157 $ 7,556 $ 7,542 Revolving credit facility - - - - $ 7,264 $ 7,157 $ 7,556 $ 7,542

Note 12 - Partners' Capital

Note 12 - Partners' Capital	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Partners' Capital Notes Disclosure [Text Block]	( 12 ’ CAPITAL Net income and losses are allocated 1% 99%

Note 13 - Pension Plan

Note 13 - Pension Plan	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	( 13 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 March 31, 2018 2017 Service cost $ 21 $ 15 Interest cost 18 18 Expected return on plan assets (21 ) (18 ) Net periodic pension cost $ 18 $ 15

Note 14 - Intermittent Severanc

Note 14 - Intermittent Severance Plan	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	( 14 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 March 31, 2018 2017 Service cost $ 5 $ 4 Interest Cost 3 3 Net periodic intermittent severance cost $ 8 $ 7

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 15 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, Contingencies may Edmund C. Olson, as Trustee of The Edmund C. Olson Trust No. 2 February 22, 2018, 653 382 515 423 2034 92 2045 348 30 24 $380,000

Note 16 - Recent Developments

Note 16 - Recent Developments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Partners' Capital, Unit Split [Text Block]	( 16 On March 19, 2018, 14C 85% one 2000 13E 3 13e 3

Note 3 - Discontinued Operati23

Note 3 - Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Snack Business [Member]
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	March 31, December 31, (in thousands) 2018 2017 Current assets Accounts receivable, net 97 461 Inventories, net - 1,084 Other current assets - 19 Total current assets of discontinued operations $ 97 $ 1,564 Equipment, net - 52 Other non-current assets - 13 Total noncurrent assets of discontinued operations $ - $ 65 Current liabilities Accounts payable 482 225 Accrued payroll and benefits 34 139 Other current liabilities - 3 Total current liabilities of discontinued operations $ 516 $ 367 Three months ended March 31, (in thousands) 2018 2017 Net revenue $ 2,407 $ 988 Cost of branded product sales 1,445 954 Gross profit 962 34 General and administrative expenses 134 258 Selling expenses 323 428 Operating income (loss) 505 (652 ) Loss on disposal of equipment - (5 ) Other expense (2 ) (36 ) Interest expense, net (8 ) (35 ) Net income (loss) before income taxes 495 (728 ) Income tax expense - - Net income (loss) from discontinued operations 495 (728 ) Gain on disposal of discontinued operations: Gain on sale of brands and snack business 1,893 - Income (loss) from discontinued operations, net of tax $ 2,388 $ (728 )

Note 5 - Segment Information (T

Note 5 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2018 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues External customers $ 1,908 $ 3,127 $ - $ 5,035 Intersegment revenue 3,377 - (3,377 ) - Total revenue $ 5,285 $ 3,127 $ (3,377 ) $ 5,035 Operating income $ 204 $ 455 $ 12 $ 671 Depreciation and amortization $ 780 $ 6 $ - $ 786 Capital expenditures $ 1,436 $ - $ - $ 1,436 Segment assets $ 81,481 $ 5,512 $ (14,604 ) $ 72,389 Three Months Ended March 31, 2017 (in thousands) Orchards Branded Products Eliminations/ Reconciliation Total Revenues External customers $ 2,170 $ 4,946 $ - $ 7,116 Intersegment revenue 3,620 - (3,620 ) - Total revenue $ 5,790 $ 4,946 $ (3,620 ) $ 7,116 Operating (loss) income $ (109 ) $ 625 $ (30 ) $ 486 Depreciation and amortization $ 761 $ 10 $ - $ 771 Capital expenditures $ 16 $ - $ - $ 16 Segment assets $ 71,432 $ 6,488 $ (15,504 ) $ 62,416

Note 7 - Inventories (Tables)

Note 7 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2018 December 31, 2017 Orchard Branded Product Total Orchard Branded Product Total Wet-in-shell $ 123 $ - $ 123 $ - $ - $ - Dry-in-shell 3,299 - 3,299 3,355 - 3,355 Macadamia nut kernel - 1,736 1,736 - 1,849 1,849 Farming supplies 177 - 177 131 - 131 Inventory Reserve (100 ) - (100 ) - - - Total inventory, net $ 3,499 $ 1,736 $ 5,235 $ 3,486 $ 1,849 $ 5,335 Deferred farming cost $ 346 $ - $ 346 $ - $ - $ - Total inventory and deferred farming costs, net $ 3,845 $ 1,736 $ 5,581 $ 3,486 $ 1,849 $ 5,335

Note 8 - Land, Orchards and E26

Note 8 - Land, Orchards and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2018 2017 Land $ 13,076 $ 10,808 Improvements 2,711 2,456 Machinery and equipment 12,497 12,397 Irrigation well and equipment 2,613 2,613 Producing orchards 72,665 76,073 Construction work-in-progress 302 263 Land, orchards and equipment (gross) 103,864 104,610 Less accumulated depreciation and amortization (55,892 ) (57,684 ) Land, orchards and equipment (net) $ 47,972 $ 46,926

Note 10 - Debt (Tables)

Note 10 - Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Debt [Table Text Block]	March 31, December 31, 2018 2017 Long-Term Debt Revolving Credit Facility (due 2020) (1) $ - $ - 2015 6-Year Term Loan (due 2021) 2,625 2,844 2015 20-Year Term Loan (due 2035) 4,541 4,607 Other 98 105 Total principal amount of long-term debt 7,264 7,556 Less: unamortized debt issuance costs (107 ) (111 ) Total long-term debt, net of unamortized loan fees 7,157 7,445 Less: current portion of long-term debt, net (1,015 ) (1,015 ) Long-Term Debt, net of associated unamortized loan fees $ 6,142 $ 6,430
Schedule of Maturities of Long-term Debt [Table Text Block]	Payments Due by Period Total 2018 (1) 2019 2020 2021 2022 Remaining Debt $ 7,264 $ 735 $ 1,167 $ 1,169 $ 564 $ 272 $ 3,357

Note 11 - Fair Value Measurem28

Note 11 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Cost / Other Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Marketable Securities $ 2,803 $ 3,182 $ 2,803 $ - $ - $ 2,803 $ 3,182 $ 2,803 $ - $ -
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	March 31, December 31, 2018 2017 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 7,264 $ 7,157 $ 7,556 $ 7,542 Revolving credit facility - - - - $ 7,264 $ 7,157 $ 7,556 $ 7,542

Note 13 - Pension Plan (Tables)

Note 13 - Pension Plan (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended March 31, 2018 2017 Service cost $ 21 $ 15 Interest cost 18 18 Expected return on plan assets (21 ) (18 ) Net periodic pension cost $ 18 $ 15

Note 14 - Intermittent Severa30

Note 14 - Intermittent Severance Plan (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended March 31, 2018 2017 Service cost $ 21 $ 15 Interest cost 18 18 Expected return on plan assets (21 ) (18 ) Net periodic pension cost $ 18 $ 15
Intermittent Severance Plan [Member]
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Intermittent Severance Plan Cost Three Months Ended March 31, 2018 2017 Service cost $ 5 $ 4 Interest Cost 3 3 Net periodic intermittent severance cost $ 8 $ 7

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	Mar. 14, 2018shares
Snack Business [Member]
Disposal Group Including Discontinued Operation Consideration, Shares	11,220,242
Buderim Group Limited [Member]
Disposal Group Including Discontinued Operation Consideration Shares, Percentage	13.00%

Note 3 - Discontinued Operati32

Note 3 - Discontinued Operations - Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Current assets
Total current assets of discontinued operations	$ 97		$ 1,564
Total noncurrent assets of discontinued operations			65
Current liabilities
Total current liabilities of discontinued operations	516		367
Gain on disposal of discontinued operations:
Income (loss) from discontinued operations, net of tax	2,388	$ (728)
Snack Business [Member]
Current assets
Accounts receivable, net	97		461
Inventories, net			1,084
Other current assets			19
Total current assets of discontinued operations	97		1,564
Equipment, net			52
Other non-current assets			13
Total noncurrent assets of discontinued operations			65
Current liabilities
Accounts payable	482		225
Accrued payroll and benefits	34		139
Other current liabilities			3
Total current liabilities of discontinued operations	516		$ 367
Net revenue	2,407	988
Cost of branded product sales	1,445	954
Gross profit	962	34
General and administrative expenses	134	258
Selling expenses	323	428
Operating income (loss)	505	(652)
Loss on disposal of equipment		(5)
Other expense	(2)	(36)
Interest expense, net	(8)	(35)
Net income (loss) before income taxes	495	(728)
Income tax expense
Net income (loss) from discontinued operations	495	(728)
Gain on disposal of discontinued operations:
Gain on sale of brands and snack business	1,893
Income (loss) from discontinued operations, net of tax	$ 2,388	$ (728)

Note 5 - Segment Information (D

Note 5 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2018
Number of Reportable Segments	2

Note 5 - Segment Information -

Note 5 - Segment Information - Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue	$ 5,035	$ 7,116
Operating income	671	486
Depreciation and amortization	786	771
Capital expenditures	1,436	16
Segment assets	72,389	62,416	$ 69,472
Intersegment Eliminations [Member]
Revenue
Operating Segments [Member]
Revenue	5,035	7,116
Orchards [Member]
Revenue	1,908	2,170
Operating income	204	(109)
Depreciation and amortization	780	761
Capital expenditures	1,436	16
Segment assets	81,481	71,432
Orchards [Member] | Intersegment Eliminations [Member]
Revenue	3,377	3,620
Orchards [Member] | Operating Segments [Member]
Revenue	5,285	5,790
Branded Products [Member]
Revenue	3,127	4,946
Operating income	455	625
Depreciation and amortization	6	10
Capital expenditures
Segment assets	5,512	6,488
Branded Products [Member] | Intersegment Eliminations [Member]
Revenue
Branded Products [Member] | Operating Segments [Member]
Revenue	3,127	4,946
Consolidation Reconciliation [Member]
Revenue
Operating income	12	(30)
Depreciation and amortization
Capital expenditures
Segment assets	(14,604)	(15,504)
Consolidation Reconciliation [Member] | Intersegment Eliminations [Member]
Revenue	(3,377)	(3,620)
Consolidation Reconciliation [Member] | Operating Segments [Member]
Revenue	$ (3,377)	$ (3,620)

Note 6 - Revenue Recognition (D

Note 6 - Revenue Recognition (Details Textual)	3 Months Ended
	Mar. 31, 2018
Contract with Customer, Payment Term	60 days

Note 7 - Inventories - Summary

Note 7 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Macadamia nut kernel	$ 1,736	$ 1,849
Farming supplies	177	131
Inventory Reserve	(100)
Total inventory, net	5,235	5,335
Deferred farming cost	346
Total inventory and deferred farming costs, net	5,581	5,335
Orchards [Member]
Macadamia nut kernel
Farming supplies	177	131
Inventory Reserve	(100)
Total inventory, net	3,499	3,486
Deferred farming cost	346
Total inventory and deferred farming costs, net	3,845	3,486
Branded Products [Member]
Macadamia nut kernel	1,736	1,849
Farming supplies
Inventory Reserve
Total inventory, net	1,736	1,849
Deferred farming cost
Total inventory and deferred farming costs, net	1,736	1,849
Nut In Shell [Member]
Nut-in-shell	123
Nut In Shell [Member] | Orchards [Member]
Nut-in-shell	123
Nut In Shell [Member] | Branded Products [Member]
Nut-in-shell
Dry In Shell [Member]
Nut-in-shell	3,299	3,355
Dry In Shell [Member] | Orchards [Member]
Nut-in-shell	3,299	3,355
Dry In Shell [Member] | Branded Products [Member]
Nut-in-shell

Note 8 - Land, Orchards and E37

Note 8 - Land, Orchards and Equipment - Land, Orchards, and Equipment, Stated at Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Land, orchards and equipment, gross	$ 103,864	$ 104,610
Less accumulated depreciation and amortization	(55,892)	(57,684)
Land, orchards and equipment (net)	47,972	46,926
Land [Member]
Land, orchards and equipment, gross	13,076	10,808
Land Improvements [Member]
Land, orchards and equipment, gross	2,711	2,456
Machinery and Equipment [Member]
Land, orchards and equipment, gross	12,497	12,397
Irrigation Well And Equipment [Member]
Land, orchards and equipment, gross	2,613	2,613
Producing Orchards [Member]
Land, orchards and equipment, gross	72,665	76,073
Construction in Progress [Member]
Land, orchards and equipment, gross	$ 302	$ 263

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Gross Income Tax Rate For Partnership	3.50%
Deferred Tax Assets, Gross, Total	$ 1.3
Royal Hawaiian Macadamia Nut, Inc. [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	6.00%
Valuation Allowance As Percentage Of Deferred Tax Asset	100.00%

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual) $ in Thousands	Jul. 13, 2017USD ($)	Jun. 15, 2015USD ($)	Mar. 27, 2015USD ($)	Mar. 31, 2018USD ($)	Feb. 22, 2018a	Dec. 31, 2017USD ($)	Jun. 30, 2015a
Long-term Debt, Gross				$ 7,264		$ 7,556
Long-term Debt, Total				7,264		7,556
Area of Land | a					653
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 6-year Term Loan [Member]
Long-term Debt, Gross				4,541		4,607
American AgCredit, PCA [Member] | PCA Credit Agreement [Member] | The 2015 6-year Term Loan [Member]
Debt Instrument, Term			6 years
Long-term Debt, Gross			$ 5,250
Debt Instrument, Interest Rate, Stated Percentage			4.01%
Long-term Debt, Total				2,625		2,844
American AgCredit, FLCA [Member] | FLCA Credit Agreement [Member] | The 2015 20-Year Term Loan [Member]
Debt Instrument, Term		20 years
Debt Instrument, Interest Rate, Stated Percentage		5.29%
Long-term Debt, Total		$ 5,265		$ 4,541		4,607
Maximum Consolidated EBITDA Ratio Required by Credit Agreement		4
Revolving Credit Facility [Member] | American AgCredit, PCA [Member] | PCA Credit Agreement [Member]
Line of Credit Facility, Expiration Period	3 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 9,000
Debt Instrument, Base Rate, Percentage in Excess of Federal Funds Rate	0.50%
Line of Credit Facility, Commitment Fee Percentage	0.375%
Line of Credit Facility, Interest Rate at Period End				5.25%
Long-term Line of Credit, Total				$ 0		$ 0

Note 10 - Debt - Short and Long

Note 10 - Debt - Short and Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Long-Term Debt
Long-term Debt		$ 7,264	$ 7,556
Less: unamortized debt issuance costs		(107)	(111)
Total long-term debt, net of unamortized loan fees		7,157	7,445
Current portion of long-term debt		(1,015)	(1,015)
Long-Term Debt, net of associated unamortized loan fees		6,142	6,430
Line of Credit [Member]
Long-Term Debt
Long-term Debt	[1]
The 2010 Term Loan [Member]
Long-Term Debt
Long-term Debt		2,625	2,844
The 2015 6-year Term Loan [Member]
Long-Term Debt
Long-term Debt		4,541	4,607
Other Long-Term Debt [Member]
Long-Term Debt
Long-term Debt		$ 98	$ 105
[1]	On July 13, 2017, the maturity date was extended to July 15, 2020

Note 10 - Debt - Maturities of

Note 10 - Debt - Maturities of Long-term Debt (Details) $ in Thousands	Mar. 31, 2018USD ($)
Total	$ 7,264
2,018	735	[1]
2,019	1,167
2,020	1,169
2,021	564
2,022	272
Remaining	$ 3,357
[1]	For remainder of 2018

Note 11 - Fair Value Measurem42

Note 11 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure	$ 2,803	$ 0

Note 11 - Fair Value Measurem43

Note 11 - Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Marketable Securities, Fair Value	$ 2,803
Fair Value, Measurements, Recurring [Member]
Marketable Securities, Fair Value	2,803
Marketable Securities, Cost/Other Value	3,182
Assets, Fair Value	2,803		$ 0
Assets, Cost/Other Value	3,182
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Marketable Securities, Fair Value	2,803
Assets, Fair Value	2,803
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Marketable Securities, Fair Value
Assets, Fair Value
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value

Note11 - Fair Value Measurement

Note11 - Fair Value Measurements - Estimated Fair Values of Financial Instrument (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Long-term Debt, Total	$ 7,264	$ 7,556
Long-term debt, fair value	7,157	7,542
Long-term Debt Excluding Line of Credit [Member]
Long-term Debt, Total	7,264	7,556
Long-term debt, fair value	7,157	7,542
Line of Credit [Member]
Long-term Debt, Total
Long-term debt, fair value

Note 12 - Partners' Capital (De

Note 12 - Partners' Capital (Details Textual)	3 Months Ended
	Mar. 31, 2018
Net Loss, Percent Allocated to General Partner	1.00%
Net Loss, Percentage Allocated to Class A Unit Holders	99.00%

Note 13 - Pension Plan - Compon

Note 13 - Pension Plan - Components of Net Periodic Benefit Cost (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Service cost	$ 21	$ 15
Interest cost	18	18
Expected return on plan assets	(21)	(18)
Net periodic pension cost	$ 18	$ 15

Note 14 - Intermittent Severa47

Note 14 - Intermittent Severance Plan - Components of Net Periodic Intermittent Severance Cost (Details) - Intermittent Severance Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Service cost	$ 5	$ 4
Interest cost	3	3
Net periodic intermittent severance cost	$ 8	$ 7

Note 15 - Commitments and Con48

Note 15 - Commitments and Contingencies (Details Textual)	Feb. 22, 2018USD ($)a	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Area of Land	653
Gain (Loss) on Disposition of Property Plant Equipment, Total | $		$ 380,000
Olson Trust [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total | $	$ 380,000
Olson Trust [Member] | Schedule to Expire in 2034 and 2045 [Member]
Area of Land Relinquished	515
Olson Trust [Member] | Scheduled to Expire in 2034 [Member]
Area of Land Relinquished	423
Olson Trust [Member] | Scheduled to Expire in 2045 [Member]
Area of Land Relinquished	92
Trees and Land Underlying Garage, Husking, Drying and Office Facilities [Member]
Area of Land	382
Acres of Trees Part of Owned Land [Member] | Olson Trust [Member]
Area of Land Relinquished	24
Acres of Trees Part of Owned Land [Member] | Olson Trust [Member] | Schedule to Expire in 2034 and 2045 [Member]
Area of Land Relinquished	348
Acres of Owned Land and Including Acres of Trees [Member] | Olson Trust [Member] | Schedule to Expire in 2034 and 2045 [Member]
Area of Land Relinquished	30

Note 16 - Recent Developments (

Note 16 - Recent Developments (Details Textual)	Mar. 19, 2018
Reverse Unit Split [Member] | Capital Unit, Class A [Member]
Unit Split, Conversion Ratio	2,000