For the three months ended May 31, 2016, Goodfellow Inc. reported net income of $3.4 million or $0.40 per share compared to $3.2 million, or $0.38 per share a year ago.
Consolidated sales for the three months ended May 31, 2016 were $166.7 million compared to $154 million last year.
For the six months ended May 31, 2016, the Company reported a net income of $2.5 million, or $0.29 per share compared to $2.9 million, or $0.34 per share a year ago.
Consolidated sales for the six months ended May 31, 2016 were $275.3 million compared to $252.1 million last year.
"We are happy with our sales growth during the second quarter as we continue to leverage our recent transactions," said Denis Fraser, President and CEO. "Nevertheless, our profitability remains less than expected mainly due to the implementation cost of our ERP system. Our results are expected to improve in the coming months as we continue to make progress with our efficiency."
Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products.
