Keweenaw Land Association, Limited Announces 2015 First Quarter Earnings

IRONWOOD, Mich.--(BUSINESS WIRE)-- Keweenaw Land Association, Limited (OTC Pink: KEWL) today reported timber sales of $3,040,234 for the first quarter ended March 31, 2015, up $326,428, or 12%, from the $2,713,806 that the company reported in the comparable period in 2014. Timber Operations Income from the quarter totaled $454,290, up 110% from the $215,934 realized in the first quarter of 2014. There were no land sales included in pre-tax income for the first quarter of 2015, compared to $198,455 in the same period in 2014. Net Income from the quarter totaled $142,833, or $0.11 per share, versus Net Income of $131,963, or $0.10 per share, in the first quarter of 2014. A comprehensive quarterly newsletter detailing operating results is available on the Company’s website at www.keweenaw.com.

About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings of approximately 168,000 surface acres and over 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan. Keweenaw shares trade in the OTC Markets under the Pink directory with 1,297,206 shares outstanding.

Keweenaw Land Association, Limited
James J. Simmons, Jr., 1-906-932-3410
Controller/Treasurer

Source: Keweenaw Land Association, Limited

You May Also Be Interested In

• Intel (INTC) PT Lowered to $92 at Mizuho
• Ambarella (AMBA) Tops Q2 EPS by 1c; offers guidance
• Samsara Inc (IOT) Tops Q2 EPS by 4c, Beats on Revenue; Offers Q3 Guidance