Ckx Lands, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 06, 2020 at 11:57 pm IST
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CKX Lands, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was USD 188,697 compared to USD 216,808 a year ago. Operating income was USD 204,092 compared to operating loss of USD 1,625 a year ago. Net income was USD 211,790 compared to USD 23,271 a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.01 a year ago. For the half year, total revenue was USD 369,088 compared to USD 370,283 a year ago. Operating income was USD 260,047 compared to USD 87,735 a year ago. Net income was USD 270,172 compared to USD 128,992 a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.07 a year ago.
CKX Lands, Inc. is engaged in the business of ownership and management of land. Its activities consist of leasing its properties for minerals (oil and gas), raising and harvesting timber and surface use (agriculture, right of ways, hunting). Its segments include oil and gas, surface and timber. It leases its property to oil and gas operators and collects income through its land ownership in the form of oil and gas royalties and lease rentals and geophysical revenues. It receives income from royalty interests and mineral leases related to oil and gas production, timber sales, land sales and surface rents. Oil and Gas segment provides the customer access to a designated tract of land upon which the customer performs exploration, extraction, production and ultimate sale of the oil and gas. It receives royalties on all oil and gas produced by the customer. Timber income is derived from sales of timber on its lands. Surface income is earned from various recurring and non-recurring sources.
CKX LANDS, INC. 
