Goodfellow Reports Its Results for the First Quarter of Fiscal 2013
(firmenpresse) - DELSON, QUEBEC -- (Marketwire) -- 12/19/12 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the first quarter ended November 30, 2012. The Company generated net earnings of $0.7 million or $0.09 per share compared to net earnings of $0.9 million or $0.10 per share a year ago. Consolidated sales for the first quarter were $112.0 million compared to $106.0 million for the same period a year ago. Cash flow from operations (excluding non-cash working capital, income tax paid and interest paid) for the first quarter decreased to $1.4 million from $1.7 million for the same period last year. Management's focus on growing sales growth was maintained and as such, consolidated sales grew 6% during the first quarter. Sales grew in most regions except BC and Ontario where demand from retailers and industrial projects declined compared to the first quarter a year ago. Our sales team focused its efforts on value-added lumber products in order to diversify our product mix in many areas of our business. On the operating side, direct, selling and administrative expenses increased 4.4% or $0.8 million due to increased production throughput and lease and rental increases.
"Our first quarter results although minimal in profit met expectations." said Richard Goodfellow, President and Chief Executive Officer. "Business conditions remain sluggish and very competitive. All efforts are being made to improve margins and control costs.
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)
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Datum: 19.12.2012 - 08:23 Uhr
Sprache: Deutsch
News-ID 1181933
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Construction
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