IRONWOOD, Mich., July 25, 2017 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC Pink:KEWL) today announced second quarter earnings for the period ending June 30, 2017. The company reported a Net Loss of $273,960, or $0.21 per share, versus Net Loss of $13,053, or $0.01 per share, in the second quarter of 2016. Keweenaw also reported timber sales of $1,671,018 for quarter, down $106,977, or 6%, from the $1,777,995 that the company reported in the comparable period in 2016.
Keweenaw also reported EBITDA Timber Operations Income of $14,648 for the second quarter, down $125,718 or 90%, compared to $140,366 in the same period in 2016. 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 182,500 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 1,300,174 shares outstanding.