Mixed results for Jewett-Cameron in fourth quarter
Jewett-Cameron Trading Company reported fourth-quarter sales of $10.8 million, down 3.6% from the same quarter a year ago.
Net income for the distributor increased to $771,034, up 19% from the year ago period.
"We have continued to focus on our strengths of being a reliable and valuable supplier of quality products to our customers. Our successful efforts are reflected in our higher sales and income from operations for the year," said CEO Don Boone. "We also began shipping several new products to complement our existing product lines. However, higher material and transportation costs continue to have a negative effect on our margins."
For the fiscal year ended Aug. 31, Jewett-Cameron reported net income after other items and income taxes of $3,059,931, on sales of $45.95 million, compared with net income of $902,394 on sales of $42.06 million, reported for fiscal 2011.
The net income in the current year was positively affected by litigation income and related interest of $1,457,096. The prior years’ results were negatively affected by a litigation loss and related interest expenses of $1,402,863.
Sales for the fourth quarter of fiscal 2012 totaled $10.8 million compared with sales of $11.2 million for the fourth quarter of fiscal 2011. The company reported net income of $771,034, or $0.45 per diluted share, compared with net income of $647,456, or $0.31 per diluted share, in the fourth quarter of fiscal 2011.
As of August 31, 2012, the company’s cash position was $7.3 million, and currently there is no borrowing against its $5.0 million line of credit.
Jewett-Cameron Trading Co. is a holding company that operates through subsidiary companies. Jewett-Cameron Lumber Corp. is a wholesaler of wood products and a manufacturer and distributor of specialty metal products, sold principally to home centers and other retailers. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries. MSI-PRO is an importer and distributor of pneumatic air tools, industrial clamps, and the Avenger Products line of sawblades and other products. Jewett-Cameron Seed Company is a processor and distributor of agricultural seeds.
GAF hits 300 mark with Green Roofer program
GAF, one of North America’s largest roofing manufacturers, now has more than 300 professional roofing contractors who have qualified as members of the Certified Green Roofer program. Launched in 2010 and developed with partners like the U.S. Green Building Council (USGBC) and the Construction Materials Recycling Association (CMRA), the Certified Green Roofer program has paid more than $60,000 in incentive dollars to contractors for recycling.
Certified Green Roofers must pass a written test and complete a sustainability assessment before being admitted to the program. As a condition of membership, they commit to recycling shingles if they live in a state where recycling is available, and to joining their local chapter of the USGBC.
To help contractors find local recyclers, GAF sponsors the CMRA’s Web portal, and has helped it grow to a listing of almost 200 locations where contractors can recycle shingles.
“We found that our factory-certified contractors wanted a rigorous program where they could learn all aspects of sustainability and apply them to their businesses,” said Martin Grohman, GAF’s director of sustainability. “They also wanted to have a meaningful designation that they could use to demonstrate their commitment to sustainability. The rapid growth of the program shows the commitment that professional roofing contractors have to running their businesses in a sustainable way.”
TW Perry wins ‘Exceptional Business’ award
Pro dealer TW Perry was ranked in 9th place among the “Top 53 Businesses and Organizations in the State of Maryland” by The Gazette of Politics and Business. The publication honors businesses and organizations based on criteria that included the recipient company’s noteworthy product or service innovations, community service efforts, and how the companies portrayed themselves as good places to work.
TW Perry was recognized for its exceptional stability and growth, as well as its support of community service programs. Since ranking 16th in 2010, the company has grown from 280 to 320 employees. In the spring of 2012, TW Perry opened an upscale Design Center in Gaithersburg, Md., and acquired Crown Stairs, an established and respected company based in Gaithersburg.
Named the 2011 Pro Dealer of the Year by Home Channel News, TW Perry supports Rebuilding Together, Yellow Ribbon Fund, local youth groups and schools; and helping out on national programs, such as the Breast Cancer Foundation.