Keweenaw Land Association, Limited Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020
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Keweenaw Land Association, Limited announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 5.447 million compared to USD 9.572 million a year ago. Operating income was USD 1.298 million compared to USD 775,950 a year ago. Net income was USD 931,086 compared to USD 464,204 a year ago. Basic earnings per share from continuing operations was USD 0.72 compared to USD 0.36 a year ago. For the nine months, total revenue was USD 13.831 million compared to USD 16.870 million a year ago. Operating income was USD 2.134 million compared to USD 1.273 million a year ago. Net income was USD 1.415 million compared to USD 1.706 million a year ago. Basic earnings per share from continuing operations was USD 1.09 compared to USD 1.31 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 
