Goodfellow Reports its Results for the Fourth Quarter Ended August 31, 2014 and Declares an Eligible Dividend
(firmenpresse) - DELSON, QUEBEC -- (Marketwired) -- 10/09/14 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the fourth quarter ended August 31, 2014. The Company reported net earnings of $3.7 million or $0.43 per share compared to net earnings of $3.0 million or $0.35 per share a year ago. Consolidated sales for the fourth quarter were $146.3 million compared to $137.8 million last year. Sales in the Canada and the US were particularly active throughout the fourth quarter due to stronger housing starts both sides of the Border. Export sales slipped during the same period as shipments to the Asian market slowed down. On the operating side, variable costs increased slightly with the higher volume of sales and increased production output during the fourth quarter. As a result, direct, selling, and administrative expenses increased to $21.2 million ($20.9 million last year).
For the twelve months ended August 31, 2014, the Company generated net earnings of $6.6 million or $0.78 per share compared to net earnings of $5.3 million or $0.62 per share a year ago. Consolidated sales for the twelve months of fiscal 2014 were $486.0 million compared to $483.5 million for the same period a year ago.
"The 4th quarter showed considerable improvement in all market areas and products. Helped by record hardwood lumber sales and a strong performance in our Toronto branch, this made up for what was a most difficult preceding winter." said Richard Goodfellow, President and Chief Executive Officer.
Dividend
The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.25 per share payable October 30, 2014, to all shareholders of record as of October 17, 2014.
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: 09.10.2014 - 14:01 Uhr
Sprache: Deutsch
News-ID 1308842
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Construction
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