Goodfellow Reports its Results for the Fiscal Year Ended August 31, 2013 and Declares an Eligible Dividend
(firmenpresse) - DELSON, QUEBEC -- (Marketwired) -- 11/06/13 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the fiscal year ended August 31, 2013. The Company generated net earnings of $5.3 million or $0.62 per share compared to net earnings of $4.4 million or $0.51 per share a year ago. Consolidated sales for the fiscal year 2013 were $483.5 million compared to $500.7 million for the same period a year ago. Fiscal 2012-2013 main focus was on maintaining sales levels and restoring margin discipline. Our core lumber business performed well and was a major component of our gross margin improvements. During Fiscal 2013, lumber sales were positively impacted by the demand for hardwood lumber and our efforts to widen our distribution network in all of our traditional lumber markets.
For the fourth quarter of Fiscal 2013, the Company generated net income of $3.0 million or $0.35 per share compared to $2.5 million or $0.29 per share in the same quarter last year. Consolidated sales declined 10% to $137.8 million compared to $152.3 million for the same period a year ago.
"The 2012-2013 fiscal year was one that again yielded a slight improvement over the previous year but was far from our objectives and again overall not acceptable." said Richard Goodfellow, President and Chief Executive Officer. "We continue however to look for opportunities across the board and draw strength from our diverse product and geographic coverage".
The Board of Directors of Goodfellow Inc. declared an eligible dividend of $0.20 per share payable November 29, 2013, to all shareholders of record as of November 15, 2013.
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: 06.11.2013 - 13:46 Uhr
Sprache: Deutsch
News-ID 1280275
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