The
Keweenaw Land Association announced its first-quarter earnings for 2012, showing one of the best years they've had in the last few.
"Keweenaw Land Association, Limited announces a first quarter 2012 net income of $0.16 per share compared to a net loss of $0.05 for the same period in 2011. This is the first time since the housing market collapse that Keweenaw has realized a net operating income in the first quarter," reads the report.
The land group reported timber sales of $2,895,168 in the first quarter, up just over 12 percent from the first quarter of 2011. The report says mild winter weather helped create ideal winter logging conditions, so Keweenaw was able to keep harvest numbers up, and at the same time, demand for lumber was high enough that the company was able to sell all they cut.
Keweenaw Land Association is based in Ironwood, and has about 162,000 acres of land holdings in the western U.P. and northern Wisconsin, along with more than 400,000 acres of mineral rights.
Writer: Sam Eggleston
Source: Keweenaw Land Association
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.