Goodfellow Reports Its Results for the Third Quarter Ended August 31, 2015 and Declares an Eligible Dividend
(firmenpresse) - DELSON, QUEBEC -- (Marketwired) -- 10/13/15 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the nine months ended August 31, 2015. The Company reported a net income of $6.6 million or $0.78 per share compared to $5.5 million or $0.64 per share a year ago. For the three months ended August 31, 2015, the Company reported net income of $3.7 million or $0.44 per share compared to $3.7 million or $0.43 per share a year ago. Consolidated sales for the nine months ended August 31, 2015 were $403.8 million compared to $375.7 million last year. Consolidated sales for the three months ended August 31, 2015 were $151.7 million compared to $146.3 million last year. Sales in Canada during the first nine months of fiscal 2015 increased 6% compared to the same period a year ago mainly due to increased market share in Western Canada and Atlantic provinces and increased Pressure Treated wood sales with retailer''s customers group. Sales in the United States for the first nine months ended August 31, 2015 increased 18% on a Canadian dollar basis compared to the same period last year due to the increased foreign exchange conversion factor and increased demand for flooring and hardwood lumber product lines. On a non-converted basis, US denominated sales increased 3% compared to last year. Finally, Export sales increased 10% during the first nine 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 7% 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.
"We were successful with increased sales of treated wood and the introduction of new products. On the other hand a very soft construction market combined with low commodity prices caused us to fall short of our objectives. Sales slowed down significantly in August and this same situation continues in September." said Denis Fraser, President and Chief Executive Officer. "In this context, we are taking measures to contain cost and protect our profitability. Our order book for value added engineered products remains strong and we see some new strengths in the export market. These should support our results for the fourth quarter."
The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.20 per share payable November 20, 2015, to all shareholders of record as of November 6, 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: 13.10.2015 - 16:59 Uhr
Sprache: Deutsch
News-ID 1391957
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Natural Resource Management
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