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Jewett-Cameron Trading Company (NASDAQ: JCTCF) reported robust sales growth for Q2 and H1 of fiscal 2022. Q2 sales reached $14.06 million, up from $10.46 million year-over-year. Operational income soared to $696,740, reversing a loss of ($63,162) from the previous year. However, H1 results show a net loss of ($121,322), influenced by a $300,000 legal claim expense. The company maintains a solid inventory position and expects to reduce its $9.5 million credit line borrowing in Q3, keeping sufficient working capital for fiscal 2022.
Jewett-Cameron Trading Company Ltd. (NASDAQ: JCTCF) reported Q1 fiscal 2022 results, achieving $12.9 million in sales, up 25% from $10.3 million in Q1 fiscal 2021. However, the company posted a net loss of ($391,141), which translates to ($0.11) per share, a decline from the previous year's net income of $488,527 or $0.14 per share. CEO Chad Summers noted that while demand remains strong, increased raw material costs and logistical issues are compressing margins, despite recent price increases. As of November 30, 2021, cash stood at $1.2 million with a $5 million draw on its $10 million credit line.
Jewett-Cameron Trading Company Ltd. (NASDAQ: JCTCF) reported a fiscal year 2021 sales increase to $57.5 million and net income of $3.45 million ($0.99 per share), up from $44.9 million and $2.78 million ($0.77 per share) in fiscal 2020. Q4 sales rose to $15.1 million from $14.0 million in Q4 2020, though net income declined to $605,114 ($0.18 per share) from $1.57 million ($0.43 per share). The company faces ongoing supply chain challenges impacting operations and margins, prompting an increase in its line of credit to $10 million.
Jewett-Cameron Trading Company (NASDAQ: JCTCF) reported strong financial results for Q3 and the nine months ending May 31, 2021. Q3 sales hit $21.6 million, up from $16.2 million in Q3 2020, with net income at $2.4 million, or $0.69 per share, compared to $1.4 million, or $0.40 per share a year earlier. For the nine months, sales rose to $42.4 million from $30.9 million, and net income was $2.8 million, or $0.82 per share. A one-time gain of $687,387 from PPP loan forgiveness boosted results. However, supply chain issues may impact margins going forward.
Jewett-Cameron Trading Company Ltd. (NASDAQ: JCTCF) reported its Q2 fiscal 2021 results, showing a sales increase to $10.46 million from $7.62 million a year earlier. The loss from operations improved to ($63,162) from ($163,020) in Q2 2020. For the six months, sales rose to $20.8 million, with net income at $435,363 or $0.12 per share, compared to a net loss of ($180,884) the previous year. The CEO noted challenges due to COVID-19, including shipping delays and increased costs. The cash position stood at approximately $2.89 million.
Jewett-Cameron Trading Company Ltd. (NASDAQ: JCTCF) announced its first quarter fiscal 2021 results, reporting sales of $10.3 million, up from $7.1 million in Q1 fiscal 2020. The company achieved net income of $488,527 or $0.14 per share, a significant increase from a net loss of ($6,621) or ($0.00 per share) last year. CEO Charlie Hopewell highlighted strong demand, especially in the DIY and pet product sectors, while maintaining a robust cash position of $5.8 million and no debt against its $3.0 million credit line.
Jewett-Cameron Trading Company (NASDAQ: JCTCF) reported its financial results for the fiscal year ending August 31, 2020, demonstrating stable sales of $44.9 million compared to $45.4 million in 2019. The net income increased to $2.78 million or $0.77 per share, up from $2.10 million or $0.50 per share. In Q4, sales rose to $14.0 million from $11.8 million in the previous year, with net income also improving to $1.57 million or $0.43 per share. The company maintained a strong cash position of $3.8 million and conducted share repurchases totaling $3.87 million.
Jewett-Cameron has signed a significant supply agreement with SECOS, a compostable bag manufacturer based in Australia, to supply compostable pet waste bags made from Cardia™ biopolymer resins. This agreement is valued at approximately $3M annually and will help Jewett-Cameron meet growing demand in both North America and internationally. The introduction of their Lucky Dog® ZERO PLASTIC™ poop bags aims to address environmental concerns related to microplastics. Market tests for this product are expected to begin in September 2020.
Jewett-Cameron Trading Company (JCTCF) reported Q3 2020 sales of $16.2 million, down from $16.7 million in Q3 2019, while Q3 income from operations increased to $1.9 million from $1.5 million year-over-year. Net income rose to $1.4 million ($0.40/share) compared to $1.1 million ($0.27/share) in Q3 2019. For the nine months ending May 31, 2020, sales totaled $30.9 million, down from $33.6 million, with net income at $1.2 million ($0.33/share), down from $1.6 million ($0.36/share) in the prior year. The company reports a solid cash position of $3.2 million amid ongoing pandemic challenges.