Sales, income jump at Jewett-Cameron
Jewett-Cameron Trading Co. reported first-quarter 2013 sales of $9.30 million, compared with sales of $7.24 million for the first quarter of fiscal 2012.
Net income for the distributor for the quarter, which ended Nov. 30, 2012, was $480,746, compared with net income of $64,033 a year ago.
"The increase in sales for the quarter was due to successful sales efforts to increase market share of our existing products, as well as our recent introduction of new pet containment products," said CEO Don Boone.
As of Nov. 30, the company's cash position was $7.26 million, and currently there is no borrowing against its $5.0 million line of credit.
Jewett-Cameron Trading Co. is a holding company that operates through subsidiary companies. Jewett-Cameron Lumber Corp. is a wholesaler of wood products and a manufacturer and distributor of specialty metal products, sold principally to home centers and other retailers. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries. MSI-PRO is an importer and distributor of pneumatic air tools, industrial clamps, and the Avenger Products line of sawblades and other products. Jewett-Cameron Seed Co. is a processor and distributor of agricultural seeds.