Hi Mike, results are out, pretty good, although I think I'm getting
spoiled by these good results and hoping for more,,Scott
Goodfellow increases six-month sales
Goodfellow Inc GDL
Shares issued 4,192,827 Mar 27 close $10.70
Tue 28 Mar 2000 News Release
Mr. Richard Goodfellow reports
Financial results for the period ended Feb. 29, 2000, were as follows:
The second quarter results reflect an increase in sales of 21 per cent over
last year to $89-million generating a net profit of $478,000 or 11 cents
per share, compared with $57,000 or two cents per share last year on sales
of $73-million.
For the first six months of its fiscal year, the company reported a net
profit of $2-million or 53 cents per share on sales of $186-million, versus
a net profit of $1-million or 28 cents per share on sales of $158-million.
This represents an 18-per-cent increase in sales and a 92-per-cent increase
in profits over the same period last year.
Goodfellow president, Richard Goodfellow, stated: "Results to date reflect
the continued favorable economic conditions in North America; rising prices
in certain products and expansion of new and existing markets. Sales
continue to be strong. The company is showing improved results particularly
in Western Canada and is continuing to focus on developing business in the
U.S.A. Operating costs and improved efficiencies are a constant concern."
"Good business conditions and the relatively mild weather helped during the
traditionally slow winter period," concluded Mr. Goodfellow.
STATEMENT OF INCOME
Six months ended Feb. 29
(thousands of dollars)
2000 1999
Sales $ 186,217 $ 157,715
---------- ----------
Expenses
Cost of goods
sold, selling,
administrative
and general
expenses 180,030 153,414
Depreciation and
amortization 1,050 834
Financial 1,619 1,611
---------- ----------
182,699 155,859
---------- ----------
Income before
income taxes 3,518 1,856
Income taxes 1,302 705
---------- ----------
Net income $ 2,216 $ 1,151
========== ==========
Earnings per
share 0.53 0.28
STATEMENT OF INCOME
Three months ended Feb. 29
(thousands of dollars)
2000 1999
Sales $ 88,803 $ 73,176
---------- ----------
Expenses
Cost of goods
sold, selling,
administrative
and general
expenses 86,658 71,872
Depreciation and
amortization 538 451
Financial 847 762
---------- ----------
88,043 73,085
---------- ----------
Income before
income taxes 760 91
Income taxes 282 34
---------- ----------
Net income $ 478 $ 57
========== ==========
Earnings per
share 0.11 0.02 |
