Goodfellow Reports its Results for the First Quarter Ended November 30, 2011
(firmenpresse) - DELSON, QUEBEC -- (Marketwire) -- 02/10/12 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the first quarter ended November 30, 2011. The accompanying Interim Financial Statements for the first three months ended November 30, 2011 have been prepared in accordance with IFRS. The Company generated net earnings of $0.9 million or $0.10 per share compared to net earnings of $1.0 million or $0.11 per share a year ago. Consolidated sales for the first three months ended November 30, 2011 were $106.0 million compared to $109.4 million in the previous year. Cash flow from operations (excluding non-cash working capital items) for the first quarter of Fiscal 2012 decreased to $1.7 million from $2.1 million for the same period last year. The sales decline was mainly due to the decline from retail customer sales and a reduction of Industrial and Governmental project deliveries in the first quarter of Fiscal 2012. The Canadian housing market remained relatively active increasing 8.4% to 199,500 units on average (Source: CMHC) for the three months ended November 30, 2011 compared to 184,100 units in the first quarter a year ago. The sales decline was mitigated by our focused attention on cost reduction in all areas of our business in order to align our cost structure with expected lower business ahead.
"This result is a continuation of the last 5 quarters - sales declines with sluggish markets and efforts to reduce costs " said Richard Goodfellow, President and Chief Executive Officer. "Many parts of our business continue to show growth and profit while others struggle and are the focus of our efforts. Our clear objective is to maintain and improve overall profitability while growing market share in these most turbulent times."
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: 10.02.2012 - 11:08 Uhr
Sprache: Deutsch
News-ID 1081834
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
DELSON, QUEBEC
Phone:
Kategorie:
Construction
Anmerkungen:
Diese Pressemitteilung wurde bisher 102 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Goodfellow Reports its Results for the First Quarter Ended November 30, 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).
