Goodfellow Inc. announced its financial results for the 2Q ended May 31, 2021. The Company reported a net income of $14.0 million or $1.63 per share compared to a net income of $3.4 million or $0.40 per share a year ago. Sales for the three months ended May 31, 2021 were $185.5 million compared to $103.8 million last year.
For the six months ended May 31, 2021, the Company reported a net income of $17.7 million or $2.07 per share compared to a net income of $1.3 million or $0.16 per share a year ago. Sales were $305.0 million compared to $192.6 million last year.
The 2Q results of fiscal 2021 were uncharacteristically greater than past years and demonstrate the unpredictability of conditions within all sectors. The Company was able to capitalize on surging demand, while at the same time mitigating ongoing supply disruptions. The Company remains well-positioned to adapt swiftly to changing circumstances, while still pursuing core success drivers including value-added specialty products, a commitment to maintaining inventory levels and ensuring superior customer service from coast to coast.
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings.