Alexander & Baldwin, Inc. has reported second quarter 2002 net income of $13,197,000, or $0.32 per share. Net income in the second quarter of 2001 was $24,514,000, or $0.61 per share, including a one-time gain of $0.23 per share on the sale of marketable bank securities. Revenue in the second quarter of 2002 was $279,185,000, compared with revenue of $293,012,000 in the second quarter of 2001. Net income for the first half of 2002 was $23,004,000, or $0.56 per share. For the first half of 2001, the Company reported net income of $46,948,000, or $1.16 per share. Revenue in the first half of 2002 was $512,972,000, compared with $567,793,000 in the first half of 2001.