Goodfellow Inc. reports 3Q sales of $159.1 million

Market: Lumber / Flooring
30 November, 21:14
Goodfellow Inc. announced its financial results for the 3Q ended August 31, 2016. For the three months ended August 31, 2016, the Company reported a net loss of $(2.5) million, compared to net income of $3.7 million a year ago.

Consolidated sales for the three months ended August 31, 2016 were $159.1 million, compared to $151.7 million last year.

For the nine months ended August 31, 2016, the Company reported a net loss of $(0.9) million, compared to $6.6 million or $0.78 per share a year ago.

Consolidated sales for the nine months ended August 31, 2016 were $434.4 million compared to $403.8 million last year. Sales in Canada during the first nine months of fiscal 2016 increased 11% compared to the same period a year ago mainly due to a strong performance in Ontario and strong sales of pressure treated wood.

Sales in the United States for the first nine months ended August 31, 2016 decreased 6% on a Canadian dollar basis compared to the same period last year due to lower demand of flooring products and lower industrial projects deliveries. On a US dollar basis, US denominated sales decreased 13% compared to last year.

Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products.



Topics: Finance

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