Keweenaw Land Association, Limited Announces 2013 First Quarter Earnings
IRONWOOD, Mich.--(BUSINESS WIRE)-- Keweenaw Land Association, Limited (KEWL: OTC Pink) today reported timber sales of $2,669,995 for the first quarter ended March 31, 2013, down $225,173, or 7.8%, from the $2,895,168 that the company reported in the comparable period in 2012. Net Income from the quarter totaled $124,946, or $0.10 per share, versus net income of $202,970, or $0.16 per share, in the first quarter of 2012. A comprehensive quarterly newsletter detailing operating results, along with a letter to the shareholders by the Chairman, Mr. David Ayer, 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 1,294,118 shares outstanding.
Keweenaw Land Association, Limited
James J. Simmons, Jr., Controller/Treasurer
KEYWORDS: United States North America Michigan
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