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NORTH PLAINS, Ore., July 15, 2024 /PRNewswire/ — Jewett-Cameron Buying and selling Corporate Ltd. (NASDAQ: JCTCF) as of late reported monetary effects for the 3rd quarter and nine-month sessions of fiscal 2024 ended Might 31, 2024.
Gross sales for the 3rd quarter of fiscal 2024 totaled roughly $15.9 million in comparison to gross sales of $18.9 million for the 3rd quarter of fiscal 2023. Source of revenue from operations was once $55,595 in comparison to $1,251,019 for the 3rd quarter ended Might 31, 2023. Web source of revenue then alternative pieces and source of revenue taxes for the wave quarter was once $154,862, or $0.04 in step with percentage, in comparison to internet source of revenue of $734,951, or $0.21 in step with percentage, within the 3rd quarter of 2023.
For the 9 months ended Might 31, 2024, Jewett-Cameron reported gross sales of roughly $33.9 million in comparison to gross sales of $39.7 million for the 9 months ended Might 31, 2023. Nearest a one-time acquire from a good arbitration agreement, internet source of revenue was once $912,257, or $0.26 in step with percentage, in comparison to a internet lack of ($310,847), or ($0.09) in step with percentage, for the primary 9 months of fiscal 2023.
“Economic factors and restrained consumer spending, particularly in the home improvement and pet categories, continue to challenge our sales and margins” mentioned CEO Chad Summers. “In response, we are continuing to focus on our core products and increase our visibility and brand recognition with consumers. This includes the expansion of our successful in-store product placement campaign for several of our core fence products into more stores in the 4th quarter and into fiscal 2025″.
As of Might 31, 2024, the Corporate’s coins place was once roughly $1.05 million. Next to the tip of the threerd quarter, we established a unused asset-based sequence with Northrim Investment Products and services for non permanent running capital as wanted. Despite the fact that the rate of interest at the unused sequence is upper than we have been up to now paying, it does lend us with spare monetary flexibility. We these days haven’t any borrowing in contrast unused sequence.
About Jewett-Cameron Buying and selling Corporate Ltd.
Jewett-Cameron Buying and selling Corporate is a retaining corporate that, via its subsidiaries, operates out of amenities positioned in North Plains, Oregon. Jewett-Cameron Corporate’s industry is composed of the producing and distribution of patented and patent pending strong point steel and sustainable bag merchandise, and wholesale distribution of timber merchandise. The Corporate’s manufacturers come with Fortunate Canine®, for puppy merchandise; Regulate-A-Gate™, Are compatible-Proper®, Perimeter Patrol®, Infinity Euro Fence, and Lifetime Submit™ for gates and fencing; MyEcoWorld® for sustainable bag merchandise; and Early Get started, Spring Gardner™, Greenline®, and Weatherguard for greenhouses. Spare details about the Corporate and its merchandise may also be discovered the Corporate’s web site at www.jewettcameron.com.
Ahead-looking Statements
The tips on this let fall comprises sure forward-looking statements that wait for month tendencies and occasions. Those statements are in keeping with sure guesses that can end up to be faulty and are topic to sure dangers, together with however no longer restricted to, the uncertainties of the Corporate’s unused product introductions, the dangers of larger festival and technological trade within the Corporate’s business, and alternative elements impressive within the Corporate’s SEC filings. Accordingly, latest effects would possibly fluctuate, in all probability materially, from predictions contained herein.
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JEWETT-CAMERON TRADING COMPANY LTD. CONSOLIDATED BALANCE SHEETS (Expressed in U.S. Bucks) (Ready via Control) (Unaudited) |
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Might 31, 2024 |
August 31, 2023 |
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|
ASSETS |
|||||
|
Stream property |
|||||
|
Money and coins equivalents |
$ |
1,054,704 |
$ |
83,696 |
|
|
Accounts receivable, internet of allowance of $0 (August 31, 2023 – $0) |
7,408,344 |
5,634,924 |
|||
|
Stock, internet of allowance of $90,536 (August 31, 2023 – $497,884) |
13,470,934 |
18,339,048 |
|||
|
Pay as you go bills |
1,402,472 |
630,788 |
|||
|
General wave property |
23,336,454 |
24,688,456 |
|||
|
Attribute, plant and kit, internet |
4,482,130 |
4,655,427 |
|||
|
Intangible property, internet |
112,431 |
134,845 |
|||
|
Deferred tax property |
396,788 |
319,875 |
|||
|
General property |
$ |
28,327,803 |
$ |
29,798,603 |
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|||||
|
Stream liabilities |
|||||
|
Accounts payable |
$ |
787,563 |
$ |
2,181,194 |
|
|
Cupboard indebtedness |
– |
1,259,259 |
|||
|
Source of revenue taxes payable |
244,108 |
147,629 |
|||
|
Collected liabilities |
2,254,484 |
2,113,194 |
|||
|
General liabilities |
3,286,155 |
5,701,276 |
|||
|
Stockholders’ fairness |
|||||
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Capital conserve Licensed 21,567,564 regular stocks, refuse par worth 10,000,000 most well-liked stocks, refuse par worth Issued 3,504,802 regular stocks (August 31, 2023 – 3,498,899) |
826,861 |
825,468 |
|||
|
Spare paid-in capital |
795,726 |
765,055 |
|||
|
Retained income |
23,419,061 |
22,506,804 |
|||
|
General stockholders’ fairness |
25,041,648 |
24,097,327 |
|||
|
General liabilities and stockholders’ fairness |
$ |
28,327,803 |
$ |
29,798,603 |
|
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JEWETT-CAMERON TRADING COMPANY LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (Expressed in U.S. Bucks) (Ready via Control) (Unaudited) |
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3 Life Length Ended Might 31, |
9 Life Length Ended Might 31, |
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|
2024 |
2023 |
2024 |
2023 |
|||||
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SALES |
$ |
15,896,017 |
$ |
18,945,738 |
$ |
33,931,050 |
$ |
39,666,658 |
|
COST OF SALES |
12,944,941 |
14,532,366 |
26,959,377 |
30,473,044 |
||||
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GROSS PROFIT |
2,951,076 |
4,413,372 |
6,971,673 |
9,193,614 |
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OPERATING EXPENSES |
||||||||
|
Promoting, basic and administrative bills |
1,026,071 |
961,566 |
2,941,978 |
2,884,463 |
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Depreciation and amortization |
79,406 |
99,962 |
268,349 |
299,577 |
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|
Wages and worker advantages |
1,790,004 |
2,100,825 |
5,221,662 |
5,975,438 |
||||
|
2,895,481 |
3,162,353 |
8,431,989 |
9,159,478 |
|||||
|
Source of revenue (loss) from operations |
55,595 |
1,251,019 |
(1,460,316) |
34,136 |
||||
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OTHER ITEMS |
||||||||
|
Alternative source of revenue |
– |
– |
2,450,000 |
– |
||||
|
Acquire on sale of property |
1,450 |
– |
90,537 |
– |
||||
|
Passion (expense) source of revenue |
(1,437) |
(152,905) |
11,527 |
(353,987) |
||||
|
13 |
(152,905) |
2,552,064 |
(353,987) |
|||||
|
Source of revenue (loss) prior to source of revenue taxes |
55,608 |
1,098,114 |
1,091,748 |
(319,851) |
||||
|
Source of revenue tax expense (cure) |
(99,254) |
363,163 |
179,491 |
(9,004) |
||||
|
Web source of revenue (loss) |
$ |
154,862 |
$ |
734,951 |
$ |
912,257 |
$ |
(310,847) |
|
Plain income (loss) in step with regular percentage |
$ |
0.04 |
$ |
0.21 |
$ |
0.26 |
$ |
(0.09) |
|
Diluted income (loss) in step with regular percentage |
$ |
0.04 |
$ |
0.21 |
$ |
0.26 |
$ |
(0.09) |
|
Weighted reasonable choice of regular stocks exceptional: |
||||||||
|
Plain |
3,504,802 |
3,498,899 |
3,502,399 |
3,498,000 |
||||
|
Diluted |
3,504,802 |
3,498,899 |
3,502,399 |
3,498,000 |
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JEWETT-CAMERON TRADING COMPANY LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in U.S. Bucks) (Ready via Control) (Unaudited) |
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9 Life Length Ended Might 31, |
|||||
|
2024 |
2023 |
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CASH FLOWS FROM OPERATING ACTIVITIES |
|||||
|
Web source of revenue (loss) |
$ |
912,257 |
$ |
(310,847) |
|
|
Pieces no longer involving an outlay of money: |
|||||
|
Depreciation and amortization |
268,349 |
299,577 |
|||
|
Retain-based repayment expense |
32,064 |
23,303 |
|||
|
Acquire on sale of quality, plant and kit |
(90,537) |
– |
|||
|
Scribble-down of intangible property |
21,790 |
– |
|||
|
Deferred source of revenue tax expense |
(76,913) |
(366,566) |
|||
|
Adjustments in non-cash running capital pieces: |
|||||
|
Build up in accounts receivable |
(1,773,420) |
(338,489) |
|||
|
Short in stock |
4,868,114 |
103,083 |
|||
|
(Build up) scale down in pay as you go bills |
(771,684) |
242,427 |
|||
|
Short in pay as you go source of revenue taxes |
– |
208,963 |
|||
|
(Short) building up in accounts payable and accumulated liabilities |
(1,252,341) |
1,541,107 |
|||
|
Build up in source of revenue taxes payable |
96,479 |
147,215 |
|||
|
Web coins supplied via running actions |
2,234,158 |
1,549,773 |
|||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|||||
|
Build up in intangible property |
– |
(102,500) |
|||
|
Proceeds on sale of quality, plant and kit |
106,649 |
||||
|
Acquire of quality, plant and kit |
(110,540) |
(215,685) |
|||
|
Web coins old in making an investment actions |
(3,891) |
(318,185) |
|||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|||||
|
(Compensation to) proceeds from warehouse indebtedness |
(1,259,259) |
a million |
|||
|
Web coins (old in) supplied via financing actions |
(1,259,259) |
a million |
|||
|
Web building up in coins |
971,008 |
2,231,588 |
|||
|
Money, starting of duration |
83,696 |
484,463 |
|||
|
Money, finish of duration |
$ |
1,054,704 |
$ |
2,716,051 |
|
Touch: Chad Summers, President & CEO, (503) 647-0110
SOURCE Jewett-Cameron Buying and selling Corporate Ltd.
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