Keweenaw Land Association, Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 14, 2021
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Keweenaw Land Association, Limited reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 0.140315 million compared to USD 0.160796 million a year ago. Revenue was USD 6.38 million compared to USD 5.45 million a year ago. Net income was USD 1.45 million compared to USD 0.931086 million a year ago. Basic earnings per share from continuing operations was USD 1.12 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 1.12 compared to USD 0.72 a year ago.
For the nine months, sales was USD 0.463512 million compared to USD 0.36152 million a year ago. Revenue was USD 17.61 million compared to USD 13.83 million a year ago. Net income was USD 4.03 million compared to USD 1.42 million a year ago. Basic earnings per share from continuing operations was USD 3.11 compared to USD 1.09 a year ago. Diluted earnings per share from continuing operations was USD 3.11 compared to USD 1.09 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.