Jewett-Cameron earnings strong in the third quarter
Jewett-Cameron, a distributor of wood and metal products as well as other specialty items, reported earnings rose 26 percent in the third quarter to $960,376 from $756,897 in the same period last year.
Sales in the third quarter fell 15.3 percent to $17.7 million from $20.9 million in the same period last year.
The decline in sales was due to lower demand for industrial wood products, the company said. Those lower sales were partially offset by stronger demand in the lawn, garden and pet segments, the company said.
In a statement, the distributor predicted the industrial wood segment would continue to struggle, while demand for specialty metal products – such as fencing and gate support systems – will remain strong.
Jewett-Cameron Trading Co. operates through several subsidiaries, including Jewett-Cameron Lumber Corp., whose business consists of warehouse distribution and direct sales of wood products and specialty metal products to home centers and other retailers. Greenwood Products, another subsidiary, distributes industrial wood and other specialty building products to customers in the marine and transportation industries. MSI-PRO is an importer and distributor of pneumatic air tools, industrial clamps and saw blades, among other products.