Keweenaw Land Association, Limited Announces 2013 Fourth Quarter Earnings
IRONWOOD, Mich.--(BUSINESS WIRE)--Keweenaw Land Association, Limited (KEWL: OTC Pink) today reported timber sales of $2,339,020 for the fourth quarter ended December 31, 2013, compared to $2,716,919 from the same period in 2012. Income from other sources during the quarter totaled $287,812, compared to $360,611 in the fourth quarter of 2012. Net income for the quarter totaled $292,453, or $0.23 per share, versus $411,093, or $0.32 per share, in the fourth quarter of 2012. Keweenaw recognized year-to-date net income of $706,142, or $0.55 per share, versus $1,041,096 year-to-date in 2012, or $0.81 a share. A comprehensive 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 167,000 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 1,295,333 shares outstanding.