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Keweenaw Land Association, Limited Announces 2017 Third Quarter Earnings

IRONWOOD, Mich., Oct. 31, 2017 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC Pink:KEWL) today announced third quarter earnings for the period ending September 30, 2017. The company reported Net Income of $79,693, or $0.06 per share, versus Net Income of $231,618, or $0.18 per share, in the third quarter of 2016. Keweenaw also reported timber sales of $3,496,250 for the quarter, up $729,010 or 26%, from the $2,767,240 that the company reported in the comparable period in 2016.

Keweenaw also reported EBITDA Timber Operations Income of $551,960 for the third quarter, up $93,458 or 20%, compared to $458,502 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.

Contact: James J. Simmons, Jr., Controller/Treasurer, Keweenaw Land Association, Limited, 1-906-932-3410

Source:Keweenaw Land Association Ltd.