Goodfellow Inc. reported net income of $6.6 million for the nine months ended August 31, 2015, compared to $5.5 million in 2014. For the three months ended August 31, 2015, the Company reported net income of $3.7 million, compared to $3.7 million a year ago.

Goodfellow reports 3Q net income of $3.7 million

12:09 / 十月 14, 2015

Oct 14, 2015. /Lesprom Network/. Goodfellow Inc. reported net income of $6.6 million for the nine months ended August 31, 2015, compared to $5.5 million in 2014. For the three months ended August 31, 2015, the Company reported net income of $3.7 million, compared to $3.7 million 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 3Q were $151.7 million, compared to $146.3 million last year.

"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 CEO. "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 4Q."

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

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Goodfellow reports 3Q net income of $3.7 million

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