Hines Horticulture Inc.
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The Irvine owner and operator of nurseries lost $1.4 million, or 6 cents a share, for the first quarter, compared with a profit of $2.3 million, or 11 cents a share, for last year’s first quarter. The loss includes a one-time charge to cover the impact of a new accounting rule. Excluding the charge, the company earned $2.4 million, or 11 cents a share. Quarterly revenue rose 14% to $100.8 million.
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