Jewett-Cameron Announces Fiscal 2020 Financial Results
Jewett-Cameron Trading Company Ltd. (“Jewett-Cameron” or “Company”) reported financial results for its fourth quarter and fiscal year ended August 31, 2020.
For the fiscal year ended August 31, 2020, Jewett-Cameron had sales of $44.9 million and net income of $2,784,525, or $0.77 per share, compared to sales of $45.4 million and net income of $2,100,452, or $0.50 per share, for fiscal 2019.
Sales for the fourth quarter of fiscal 2020 totaled $14.0 million compared to sales of $11.8 million in Q4 2019. Net income was $1,568,436, or $0.43 per share, compared to net income of $532,918, or $0.13 per share, in the fourth quarter of fiscal 2019.
“2020 has been a year to further invest in our core businesses by adding to our facilities, staff, products and brand awareness,” said CEO Charlie Hopewell. “However, the COVID-19 pandemic presented tremendous challenges beginning in January. Due to our strict safety protocols, we have had no cases of COVID-19 among our personnel and we have been able to operate effectively throughout calendar 2020 to date. This allowed us to meet the increased demand for certain of our products during the second half of fiscal 2020, particularly in our DIY and pet lines.”
As of August 31, 2020, the Company’s cash position was $3.8 million, and currently there is no borrowing against its $3.0 million line of credit. During fiscal 2020, the Company privately repurchased for cancelation a total of 490,120 common shares from two large shareholders, including an officer and director of the Company, at a price of $7.89 per share. The total cost of the share repurchases was $3,867,046.
For the full fourth quarter & fiscal year results, click here.
About Jewett-Cameron Trading Company Ltd.
Jewett-Cameron Trading Company is a holding company that, through its subsidiaries, operates out of facilities located in North Plains, Oregon. Jewett-Cameron Company’s business consists of the manufacturing and distribution of patented and patent pending specialty metal products, wholesale distribution of wood products, and seed processing and sales. The Company’s brands include Lucky Dog, Animal House and AKC licensed products in the expanding pet market; fencing products under the Adjust-A-Gates, Fit-Right, Perimeter Patrol, and INFINITY Euro fence systems brands; Early Start, Spring Gardner, and Weatherguard for greenhouses; and TrueShade for patio umbrellas, furniture covers and canopies. Additional information about the Company and its products can be found the Company’s website at www.jewettcameron.com.
Charlie Hopewell – President & CEO – (503) 647-0110
Source: Jewett-Cameron Trading Company Ltd.