Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Goodfellow GDL on MSE -- Ignore unavailable to you. Want to Upgrade?

To: M. Merriam who wrote (84)	6/12/1998 12:57:00 PM
From: Scott Mc	Respond to of 120

Mike,still hanging on, next Q should be out within the next few weeks (june 22-Jul10) and will keep my fingers crossed.. Low lumber prices may hurt their inventory, however should be positive if it keeps up. Company seems well managed, growing, good field to be in and looks cheap with revenue of $500M this year you can buy the company for $40million. Scott

To: M. Merriam who wrote (84)	7/9/1998 1:00:00 PM
From: Scott Mc	Respond to of 120

Mike, looks pretty good.. Scott Third quarter results Goodfellow Inc GDL Shares issued 4,084,627 Jul 7 close $9.50 Thu 9 Jul 98 News Release Mr. Richard Goodfellow reports Results for the third quarter were marked by an improvement over the first half of the year. Ehile year over year earnings were lower, all efforts are now focused on completing the fourth quarter in line with original budget projections. Net earnings for the three months ended May 31, 1998 were $1.4-million or 34 cents per share, compared with $1.7-million or 45 cents per share for the third quarter a year ago. Sales rose to $93-million from $83-million last year. For the nine months, net earnings were $2.5-million or 60 cents per share, compared with $3.8-million or 96 cents per share a year ago. Sales increased to $239.6-million from the $202.1-million posted for the nine months last year. The board of directors has declared a dividend of 13 cents per share payable August 21, 1998 to all shareholders of record July 31, 1998. This compares to the 13 cents paid at this time last year. The higher sales reflect the relatively buoyant market in both the United States and Canada. The problem, is with weaker margins. There is a strong competitive environment throughout the industry; the steep decline in the value of the Canadian dollar has affected wholesale flooring costs and subsequent pricing; lumber and plywood commodity prices have collapsed; and the economic situation in Western Canada, particularly in Vancouver is difficult. All these combined to push margins downwards. While some areas of the business are performing well, other segments are facing more challenges than had been anticipated. Increased costs associated with "just-in-time" deliveries and smaller and more specialized orders have also been a factor. The company's inability to restructure its pricing strategy has hurt it in the short-term. However, a concerted effort is being made to reduce costs at all levels and to restore margins. The company remains optimistic that these initiatives will produce a fourth quarter in line with original budget projections. STATEMENT OF EARNINGS Nine months ended May 31 (thousands of dollars) 1998 1997 Sales $239,596 $202,134 -------- -------- Expenses Cost of goods sold, selling, admin and general expenses 232,165 193,258 Depreciation and amortization 1,321 1,212 Financial 2,149 1,380 -------- -------- 235,635 195,850 -------- -------- Income before income taxes 3,961 6,284 Income taxes 1,485 2,514 -------- -------- Net income 2,476 3,770 ======== ======== Earnings per share (cents) 60 96 STATEMENT OF EARNINGS Three months ended May 31 (thousands of dollars) 1998 1997 Sales $93,159 $82,986 -------- -------- Expenses Cost of goods sold, selling, admin and general expenses 89,533 79,097 Depreciation and amortization 462 414 Financial 921 530 -------- -------- 90,916 80,041 -------- -------- Income before income taxes 2,243 2,945 Income taxes 832 1,178 -------- -------- Net income 1,411 1,767 ======== ======== Earnings per share (cents) 34 45 (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: M. Merriam who wrote (84)	7/28/1998 10:32:00 AM
From: Scott Mc	Read Replies (1) \| Respond to of 120

Mike, you still in GDL? I've been by their warehouse in Campbellville a couple of times this month, once on a Sat afternoon and the other time on a Sunday. Not much happening there, only a few trucks kicking around. Seemed more impressive last year when I drove by. Then the gates were open(about the same time on a Saturday) and there were a number of smaller and more larger(and clearer)trucks around(although it may not have been open, could only see one person there then). Scott