Keweenaw also reported timber sales of $1.5 million for quarter, up $511,846, or 49%, from the $1 million that the company reported in the comparable period in 2014.
Timber operations income for the 2Q, restated in an EBITDA (a non-GAAP measure of operating performance) format beginning this quarter, was $232,793, compared to a loss of $69,853 in the same period in 2014.
Keweenaw Land Association, Limited 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.