Keweenaw Land Association, Limited Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 13, 2021 at 08:45 am EDT
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Keweenaw Land Association, Limited announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 3.531 million compared to USD 2.277 million a year ago. Operating income was USD 462,053 compared to operating loss of USD 30,974 a year ago. Net income was USD 288,613 compared to net loss of USD 80,291 a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to basic loss per share from continuing operations of USD 0.06 a year ago. For the half year, total revenue was USD 11.230 million compared to USD 8.384 million a year ago. Operating income was USD 3.593 million compared to USD 835,866 a year ago. Net income was USD 2.571 million compared to USD 484,111 a year ago. Basic earnings per share from continuing operations was USD 1.99 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 1.98 compared to USD 0.37 a year ago.
Keweenaw Land Association, Limited is a subsurface mineral mining company. The Company operates as a forest products and land management company owning substantial subsurface mineral rights. It is focused on its mineral assets. It owns approximately 428,909 acres of mineral rights located predominantly in Michiganâs Upper Peninsula. It is involved in mineral exploration and mineral asset management. The Company acts as a mineral lessor, mineral royalty holder, and commercial property lessor. Its subsidiaries include Keweenaw Properties LLC and Keweenaw Minerals LLC.
KEWEENAW LAND ASSOCIATION, LIMITED 
