Goodfellow Reports its Results for the Second Quarter Ended May 31, 2015 and Declares an Eligible Dividend
(firmenpresse) - DELSON, QUEBEC -- (Marketwired) -- 07/08/15 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the six months ended May 31, 2015. The Company reported a net income of $2.9 million or $0.34 per share compared to $1.8 million or $0.21 per share a year ago. For the three months ended May 31, 2015, the Company reported net income of $3.2 million or $0.38 per share compared to $2.1 million or $0.25 per share a year ago. Consolidated sales for the six months ended May 31, 2015 were $252.1 million compared to $229.4 million last year. Consolidated sales for the three months ended May 31, 2015 were $154.0 million compared to $134.0 million last year. Sales in Canada during the first six months of fiscal 2015 increased 8.8% compared to the same period a year ago mainly due to a strong second quarter from all sales groups and regions. Sales in the United States for the first six months ended May 31, 2015 increased 21% on a Canadian dollar basis compared to the same period last year due to the increased market presence and increased demand for our value-added product lines. On a non-converted basis, US denominated sales increased 9% compared to last year. Finally, Export sales increased 8% during the first six months of fiscal 2015 compared to the same period a year ago mainly due to increasing demand for value added products in Asia and Europe mitigated by a decrease in the United Kingdom region. On the operating side, Selling, Administrative and General Expenses increased 6% compared to the corresponding period last year due to increased production output of value-added products, increased selling expenses related to the improved sales performance and increased administration expenses linked with the Saskatoon branch opening.
"With sales up nearly 15% on the quarter and net income up 56% over last year we are happy with our progress so far" said Denis Fraser, President and Chief Executive Officer. "We remain optimistic that we will achieve our sales and financial goals for the year."
The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.15 per share payable August 14, 2015, to all shareholders of record as of July 31, 2015.
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.
Denis Fraser
President and CEO
450 635-6511
450 635-3730 (FAX)
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Datum: 08.07.2015 - 13:47 Uhr
Sprache: Deutsch
News-ID 1371016
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