Timber operations income from the quarter totaled $454,290, up 110% from the $215,934 realized in the 1Q 2014. There were no land sales included in pre-tax income for the 1Q 2015, compared to $198,455 in the same period in 2014.
Net income from the quarter totaled $142,833, or $0.11 per share, versus net income of $131,963, or $0.10 per share, in the 1Q2014.
Keweenaw Land Association is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings of approximately 168,000 surface acres and over 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan.