Mike, earnings out, they blew away my revenue target (86.6M vrs 64M for last Q up approx 35%, however earnings lagging a bit 0.34 vrs 0.36 for the 4th Q, still very decent) Scott
Canadian Company Press Releaseÿ
GDLÿÿ1997-10-16 ÿÿ(provided courtesy of Canadian Corporate News)
Goodfellow Inc. Announces Record Performance for the Year Ended August 31, 1997
DELSON, QUEBEC--Goodfellow Inc. announced record net earnings
today of $5.2 million or $1.30 per share on sales of $288.6
million for the year ended August 31, 1997. This compares with
net earnings of $3.3 million or $0.85 per share on sales of $216.6
million last year. Goodfellow President, Mr. Richard Goodlfellow
said the outlook for the current fiscal year is bright.
The Company's strong performance in all regions, its focus on
specialty products and rising lumber prices during the year
contributed to the record results.
Mr. Goodfellow said the Company is projecting continued growth in
sales due in part to increased market share in Ontario and the
Western provinces which should continue to have a significant
impact on earnings. "In addition, the domestic economy is
expected to remain strong in most business sectors. This combined
with increased housing starts augers well for the year. We will
continue to place increased emphasis on specialty products which
have been a profitable strategy in the past. It is expected that
many of the market initiatives taken in the past two years will
provide additional benefits in 1997/98."
The Board of Directors of Goodfellow today also declared a
dividend of $0.13 per share payable November 28, 1997 to all
shareholders of record November 13, 1997.
Goodfellow Inc. is entering into its one hundredth year of
business, a milestone few have achieved. It is Eastern CanadaOs
largest independent remanufacturer and distributor of lumber
products and the largest distributor of hardwood flooring products
in Canada. The Company's shares are listed on the Montreal
Exchange under the symbol GDL.
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