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IRONWOOD, Mich., May 01, 2018 -- Keweenaw Land Association, Limited (OTC Pink:KEWL) today announced first quarter earnings for the period ending March 31, 2018. The company reported Net Income of $111,866, or $0.09 per share, compared to a Net Loss of $164,537, or $0.13 per share, in the first quarter of 2017. EBITDA for the quarter was $454,272, up $400,987 or 753%, from $53,285 in the same period last year. Company log sales were $4,174,440 for the quarter, up $1,228,831, or 42%, from the $2,945,609 reported in the comparable period in 2017.
Keweenaw also reported EBITDA Timber Operations Income of $610,649 for the first quarter, up $294,918 or 93%, compared to $315,731 in the same period in 2017. 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 185,750 surface acres and over 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Keweenaw shares trade in the OTC Markets under the Pink directory with 1,301,550 shares outstanding.
SOURCE: Keweenaw Land Association, Limited
Contact: James J. Simmons, Jr., Controller/Treasurer, Keweenaw Land Association, Limited, 1-906-932-3410
