Goodfellow Inc. reported 2Q 2020 net income of $3.4 million or $0.40 per share compared to a net income of $1.9 million or $0.22 per share a year ago. Consolidated sales were $103.8 million compared to $123.7 million last year. Sales in Canada decreased 15% compared to the same period a year ago, while sales in the United States decreased 18% (on a Canadian dollar basis) and export sales decreased 35% compared to the same period a year ago. On the operating side, selling, administrative and general expenses decreased overall by $6.2 million.
For the six months ended May 31, 2020, Goodfellow Inc. reported a net income of $1.3 million or $0.16 per share compared to a net income of $0.3 million or $0.04 per share a year ago. Consolidated sales were $192.6 million compared to $211.9 million last year. Sales in Canada decreased 8% compared to the same period a year ago, while sales in the United States decreased 11% (on a Canadian dollar basis) and export sales decreased 26% compared to the same period a year ago. On the operating side, selling, administrative and general expenses decreased overall by $5 million.
Goodfellow Inc. is a distributor of lumber products, building materials and floor coverings.
