Keweenaw Land Association, Limited Announces 2012 Fourth Quarter Earnings
IRONWOOD, Mich.--(BUSINESS WIRE)-- Keweenaw Land Association, Limited (Pink Sheets: KEWL) today reported timber sales of $2,716,919 for the fourth quarter ended December 31, 2012, compared to $3,250,697 from the same period in 2011. Income from other sources during the quarter totaled $360,611, compared to $196,922 in the fourth quarter of 2011. Net income for the quarter totaled $411,093, or $0.32 per share, versus $234,517, or $0.18 per share, in the fourth quarter of 2011. Keweenaw recognized year-to-date net income of $1,041,096, or $0.81 per share, versus $520,820 year-to-date in 2011, or $0.40 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 162,000 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 1,292,858 shares outstanding.
Keweenaw Land Association, Limited
James J. Simmons, Jr., Controller/Treasurer, 1-906-932-3410
KEYWORDS: United States North America Michigan
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