Tue, Jan 14, 9:16 PM (31 days ago)
For the quarter ending November 30, 2024, Jewett-Cameron Trading Company Ltd. (JCTC) reported a revenue decline of 5% to $9,267,000 compared to $9,805,841 in the same period last year. The company faced challenges from inflationary pressures and increased logistics costs, which negatively impacted profit margins, resulting in a gross margin of 18.3%, down from 19.9%. Operating expenses decreased to $2,552,047, but the company still posted a loss from operations of $858,145, compared to a loss of $789,224 in the prior year. Net loss for the quarter was $658,717, or $0.19 per share, a significant drop from a net income of $1,291,541 in the previous year, which was bolstered by a one-time arbitration settlement. Cash and cash equivalents decreased to $3,039,391 from $4,853,367, while working capital fell to $19,726,137. The company maintains a strong current ratio of 8.79 but may need to draw from its line of credit to fund inventory ahead of the busy spring season. Overall, JCTC's strategic focus remains on enhancing product offerings and managing operational efficiencies amid a challenging economic environment.