JewettCameron Trading Company (JCTCF, Financial) filed Quarterly Report for the period ended 2008-11-30.
Jewett-Cameron Trading Company Ltd. is a supplier of `Value-added` building materials to major home improvement center chains in the western United States. The Company concentrates on the residential repair and remodeling segment of the building materials industry. JewettCameron Trading Company has a market cap of $12.05 million; its shares were traded at around $5.1 with a P/E ratio of 4.2 and P/S ratio of 0.19. JewettCameron Trading Company had an annual average earning growth of 41.9% over the past 5 years.
Sales at JCLC were $5,526,956 for the three months ended November 30, 2008, which was an increase of $2,024,586 or 58% compared to sales of $3,502,370 for the three months ended November 30, 2007. This reflects higher sales for both specialty metal products and wood products in the current year vs. the prior year. Operating income was $513,329, which was up $368,079 from the same period a year ago. Going forward the sale of specialty metal products are likely to increase significantly compared to the prior year in spite of a depressed economy. Overall the operating results of JCLC are seasonal with the first two quarters of the fiscal year being much slower than the final two quarters of the fiscal year.
Sales at JCSC were $1,710,648 for the three months ended November 30, 2008, which was decrease of $407,060 or 19% compared to $2,117,708 for the three months ended November 30, 2006. However, operating income increased by $16,664.
Operating expenses decreased by $133,092 from $1,828,502 for the three month period ended November 30, 2007 to $1,695,410 for the three month period ended November 30, 2008. Selling, general, and administrative expenses decreased by $76,950, depreciation and amortization increased by $395, and wages and benefits decreased by $56,537.
Net income for the three month period ended November 30, 2008 was $293,475 or $.12 per diluted share compared to $373,915 or $.16 per diluted share for the three month period ended November 30, 2007.
As of November 30, 2008 the Company had working capital of $16,517,668, which represented an increase of $331,139 compared to working capital of $16,186,529 as of August 31, 2007. The largest changes effecting this change in working capital were a $1,519,053 increase in cash, a $2,112,327 decrease in accounts receivable, and a $917,688 decrease in accounts payable and accrued liabilities.
Read the The complete ReportMore on JCTCF:
Gurus buys and sells of JCTCF
10-year financial history of JCTCF.
Insider buys/sells of JCTCF.
Jewett-Cameron Trading Company Ltd. is a supplier of `Value-added` building materials to major home improvement center chains in the western United States. The Company concentrates on the residential repair and remodeling segment of the building materials industry. JewettCameron Trading Company has a market cap of $12.05 million; its shares were traded at around $5.1 with a P/E ratio of 4.2 and P/S ratio of 0.19. JewettCameron Trading Company had an annual average earning growth of 41.9% over the past 5 years.
Highlight of Business Operations:
Sales at Greenwood were $3,281,558 for the three months ended November 30, 2008, which was a decrease of $4,836,743 or 60% compared to sales of $8,118,301 for the three months ended November 30, 2007. Sales to boat manufacturers represented approximately 59% of Greenwoods total sales for the year ended August 31, 2008, and demand from these kinds of customers has been severely affected by weak economic conditions. Furthermore, Greenwood lost a major group of boat manufacturing customers, when a two year contract came up for renewal at June 30, 2008. Also contributing to the decline in sales was the departure of some traders earlier in calendar 2008. New traders have been hired, but the net effect has been a reduction in sales. Operating income was a negative $101,707 for the three months ended November 30, 2008 and was down $521,783 from the same period a year ago. This primarily reflects the effect of fixed costs at the relatively low level of sales during the period. In the near future depressed conditions in the overall economy and in the boating industry in particular will likely be a significant challenge for all suppliers in the industry including Greenwood.Sales at JCLC were $5,526,956 for the three months ended November 30, 2008, which was an increase of $2,024,586 or 58% compared to sales of $3,502,370 for the three months ended November 30, 2007. This reflects higher sales for both specialty metal products and wood products in the current year vs. the prior year. Operating income was $513,329, which was up $368,079 from the same period a year ago. Going forward the sale of specialty metal products are likely to increase significantly compared to the prior year in spite of a depressed economy. Overall the operating results of JCLC are seasonal with the first two quarters of the fiscal year being much slower than the final two quarters of the fiscal year.
Sales at JCSC were $1,710,648 for the three months ended November 30, 2008, which was decrease of $407,060 or 19% compared to $2,117,708 for the three months ended November 30, 2006. However, operating income increased by $16,664.
Operating expenses decreased by $133,092 from $1,828,502 for the three month period ended November 30, 2007 to $1,695,410 for the three month period ended November 30, 2008. Selling, general, and administrative expenses decreased by $76,950, depreciation and amortization increased by $395, and wages and benefits decreased by $56,537.
Net income for the three month period ended November 30, 2008 was $293,475 or $.12 per diluted share compared to $373,915 or $.16 per diluted share for the three month period ended November 30, 2007.
As of November 30, 2008 the Company had working capital of $16,517,668, which represented an increase of $331,139 compared to working capital of $16,186,529 as of August 31, 2007. The largest changes effecting this change in working capital were a $1,519,053 increase in cash, a $2,112,327 decrease in accounts receivable, and a $917,688 decrease in accounts payable and accrued liabilities.
Read the The complete ReportMore on JCTCF:
Gurus buys and sells of JCTCF
10-year financial history of JCTCF.
Insider buys/sells of JCTCF.
