Posted October 19, 2018
Goodfellow Inc. announced its financial results for the 3Q ended August 31, 2018. For the three months ended August 31, 2018, the Company reported a net income of $2 million, or $0.24 per share compared to a net income of $1.6 million, or $0.19 per share a year ago. Consolidated sales for the three months ended August 31, 2018 were $132.5 million compared to $143 million last year, as the company said in the press release received by Lesprom Network.
For the nine months ended August 31, 2018, the Company reported a net income of $2.4 million, or $0.28 per share compared to a net loss of $4.3 million, or $0.51 per share a year ago.
Consolidated sales for the nine months ended August 31, 2018 were $362.5 million compared to $396.1 million last year.
“Cost control initiatives continue to be at the forefront in a downward margin pressure business landscape. Moving forward in its 120th anniversary, the Company is focused on sales volume increases in its core lumber categories through opportune asset acquisitions,” said Patrick Goodfellow, President and CEO. “The Company intends to invest in the upgrade of its operational setups to re-establish its dominant position in value added custom orders”.
Goodfellow Inc. is a distributor of lumber products, building materials and floor coverings.