Goodfellow Reports its Results for the Fiscal Year Ended August 31, 2012 and Declares an Eligible Dividend
(firmenpresse) - DELSON, QUEBEC -- (Marketwire) -- 11/07/12 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the fiscal year ended August 31, 2012. The Company generated net earnings of $4.4 million or $0.51 per share compared to net earnings of $3.0 million or $0.35 per share a year ago. Consolidated sales for the fiscal year 2012 were $500.7 million compared to $466.8 million for the same period a year ago. Cash flow from operations (excluding non-cash working capital, income tax paid and interest paid) for fiscal 2012 increased to $8.3 million from $7.1 million for the same period last year. Fiscal 2011-2012 called for caution and Management responded with a focus on cost reduction during the first 3 quarters while maintaining its market share presence in an extremely competitive environment across all our regional markets. As such, consolidated sales grew 7% during fiscal 2012. Our focus on introducing profitable value-added product lines continued throughout the year with the development and expansion of our product offering. On the operating side, Management maintained its focus on controlling its variable costs within sales growth rates without affecting its customer service levels. As such, direct, selling and administrative expenses were reduced by 2% or $1.7 million.
The Company generated net income of $2.5 million or $0.29 per share during the fourth quarter of fiscal 2012 (same as the fourth quarter last year). Consolidated sales for the fourth quarter of fiscal 2012 were $152.3 million compared to $135.0 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 fourth quarter of fiscal 2012 decreased to $4.0 million from $4.2 million for the same period last year.
"Our 2011/2012 fiscal year was one that showed a slight improvement over last year. Our sales (up 7%) recovered to the $500 million mark but margins continued to be squeezed in most areas." said Richard Goodfellow, President and Chief Executive Officer. "Our market share has continued to grow with consolidation of many in each business sector and this should help us continue to grow both our sales and improve profitability."
The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.15 per share payable November 30, 2012, to all shareholders of record as of November 16, 2012.
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: 07.11.2012 - 19:27 Uhr
Sprache: Deutsch
News-ID 200717
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Town:
DELSON, QUEBEC
Kategorie:
Construction
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