IRONWOOD, Mich., July 22, 2016 (GLOBE NEWSWIRE) — Keweenaw Land Association, Limited (OTC Pink:KEWL) today announced second quarter earnings for the period ending June 30, 2016. The company reported a Net Loss of $13,053, or $0.01 per share, versus Net Income of $121,437, or $0.09 per share, in the second quarter of 2015. Keweenaw also reported timber sales of $1,777,995 for quarter, up $230,926, or 15%, from the $1,547,069 that the company reported in the comparable period in 2015.
Keweenaw also reported EBITDA Timber Operations Income of $140,366 for the first quarter, down $96,366 or 41%, compared to $236,732 in the same period in 2015. 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 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 1,298,568 shares outstanding.
CONTACT: Contact: James J. Simmons, Jr., Controller/Treasurer, Keweenaw Land Association, Limited, 1-906-932-3410