Jewett-Cameron Announces 1st Quarter Financial Results
Jewett-Cameron Trading Company - Common Shares (JCTCF)
US:NASDAQ Investor Relations:
jewettcameron.com/store/investor-relations
Company Research
Source: PR Newswire
NORTH PLAINS, Ore., Jan. 14, 2020 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (NASDAQ: JCTCF) today reported financial results for the first quarter of fiscal 2020 ended November 30, 2019.Sales for the first quarter of fiscal 2020 totaled $7.1 million compared to sales of $9.1 million for the first quarter of fiscal 2019. Net loss for the current quarter was ($6,621), or ($0.00) per share, compared to net income of $349,694, or $0.08 per share, in the year-ago quarter."Several of our major accounts postponed their expected purchases during the quarter," said CEO Charlie Hopewell. "The delay may be related to the timing of reduced tariffs on some of our products, as we received notice during the quarter that a number of our metal products imported from China have been reclassified and are no longer subject to the 25% tariff. During the quarter, we also continued to invest in our infrastructure while rationalizing our product offerings by deciding to discontinue our involvement
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