Keweenaw Land Association, Limited announced 4Q 2017 net income of $0.71 per share compared to $0.18 for the same period in 2016. 4Q 2017 earnings were $0.9 million, up from $0.2 million a year ago, as the company said in the press release received by Lesprom Network.
In the final three months of 2017, a total of 26,447 cd-eq were harvested compared to 24,966 cd-eq produced in the same period last year.
Keweenaw realized a 32% gross margin during the quarter, comparable to the 33% realized in the same period in 2016. Gross Margin on a per cd-eq basis (EBITDA) was $40 per cd-eq, a 5% decrease from the $42 per cd-eq realized in the same period last year due in part to longer destinations, which increased freight costs by $2 per cd-eq.
Keweenaw Land Association, Limited is a forest products and land management company located in Ironwood, Michigan.
