Goodfellow Reports Its Results for the Fifteen Months Ended November 30, 2014
(firmenpresse) - DELSON, QUEBEC -- (Marketwired) -- 02/11/15 -- Goodfellow Inc. (TSX: GDL) announced today its financial results for the fifth quarter ended November 30, 2014. The Company reported net earnings of $1.5 million or $0.18 per share compared to net earnings of $1.2 million or $0.14 per share a year ago. Consolidated sales for the fifth quarter were $124.5 million compared to $110.4 million last year. Sales in the Canada and the US were particularly active throughout the fifth quarter due to strong demand from the retailer's customer group and strong US housing starts. Export sales increased due to increasing demand for value added products in Asia and Europe. On the operating side, variable costs increased slightly due to increased labor expenses resulting from ramping up of value-added product inventory and non-recurring corporate expenses. As a result, direct, selling, and administrative expenses increased to $20.5 million ($19.2 million last year).
For the fifteen months ended November 30, 2014, the Company generated net earnings of $8.1 million or $0.96 per share compared to net earnings of $5.3 million or $0.62 per share for the twelve months ended August 31, 2013. Consolidated sales for the fifteen months of fiscal 2014 were $610.6 million compared to $483.5 million for the twelve months ended August 31, 2013.
"Although our profitability level remains unsatisfactory, we posted an EBT improvement of 20% over the last twelve months. Gross margin remained essentially at the same level; gains on value added products were offset by continued softness on commodity products. The construction industry continues to post little to no growth across the country and deflationary pressures on many of our products are a reality we must overcome." said Denis Fraser, President and Chief Executive Officer. ''Modernization, growth and excellence are the 3 themes which best capture the essence of our priorities in 2015. We are now embarking on a journey that will result in large improvements of productivity leading to a leaner cost structure".
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: 11.02.2015 - 21:30 Uhr
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News-ID 371013
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DELSON, QUEBEC
Kategorie:
Construction
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