Goodfellow Reports Its Results for the Fiscal Year Ended August 31, 2011
(firmenpresse) - DELSON, QUEBEC -- (Marketwire) -- 11/09/11 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the fiscal year ended August 31, 2011. The Company generated net earnings of $3.0 million or $0.35 per share compared to a net earnings of $12.7 million or $1.48 per share a year ago. Consolidated sales for the fiscal year 2011 were $466.8 million compared to $504.5 million for the same period a year ago. Cash flow from operations (excluding non-cash working capital items) for fiscal 2011 decreased to $4.7 million from $13.8 million for the same period last year. The sales decline was in big part due to the lower demand for flooring products linked with the absence of the Home Renovation Tax Credit which was in full effect during the first six months last year and the slowing business conditions overall in the lumber distribution. The Canadian housing market declined slightly during fiscal 2011 compared to last year.
The Company generated net income of $2.5 million or $0.29 per share during the fourth quarter of fiscal 2011 compared to a net income of $4.9 million or $0.57 per share a year ago. Consolidated sales for the fourth quarter of fiscal 2011 were $135.0 million compared to $147.4 million for the same period a year ago. Cash flow from operations (excluding non-cash working capital) for the fourth quarter of fiscal 2011 decreased to $2.8 million from $5.6 million for the same period last year.
"As warned in last year's annual report, fiscal 2011 was a slowing situation" said Richard Goodfellow, President and Chief Executive Officer. "Despite these declines, we continued to grow our market share in most areas of activity while attempting to operate at a lower cost level with reduced inventories."
Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.
Contacts:
Goodfellow Inc.
Richard Goodfellow
President and CEO
(450) 635-6511
(450) 635-3730 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2011 - 15:36 Uhr
Sprache: Deutsch
News-ID 1055507
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
DELSON, QUEBEC
Phone:
Kategorie:
Construction
Anmerkungen:
Diese Pressemitteilung wurde bisher 146 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Goodfellow Reports Its Results for the Fiscal Year Ended August 31, 2011
"
steht unter der journalistisch-redaktionellen Verantwortung von
Goodfellow Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
