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Jewett Cameron Trading Company

Jewett Cameron Trading Company (JCTCF)

5.30
-0.0378
( -0.71% )
Updated: 09:30:13

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swampboots swampboots 4 years ago
Nobody home?
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Drmicrocap Drmicrocap 7 years ago
IN THE NEWS: JCTCF "WHISPER NUMBER" .07
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Drmicrocap Drmicrocap 7 years ago
IN THE NEWS: JCTCF
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Drmicrocap Drmicrocap 7 years ago
JCTCF: Reports EPS .21
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Drmicrocap Drmicrocap 7 years ago
In The News: JCTCF
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Drmicrocap Drmicrocap 7 years ago
IN THE NEWS
👍️0
Drmicrocap Drmicrocap 8 years ago
Jewett-Cameron Announces 1st Quarter Financial Results

.

PR Newswire
Jewett-Cameron Trading Company Ltd.
January 14, 2016 4:20 PM


NORTH PLAINS, Ore., Jan. 14, 2016 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the first quarter of fiscal 2016 ended November 30, 2015.

Sales were $11.94 million for the first quarter of fiscal 2016 compared to sales of $7.98 million for the first quarter of fiscal 2015. Income from operations for the quarter was $885,204 compared to $529,899 in the year-ago quarter. Net income was $532,245, or $0.21 per share, for the current quarter compared to net income of $327,787, or $0.12 per share, for the first quarter of fiscal 2015.

"The increase in sales for the quarter was due to our efforts to expand our customer base to new smaller and mid-sized customers, as well as the continued acceptance of our new products introduced during fiscal 2015," said CEO Don Boone. "The new products have been particularly well-received by our established customer base, which has led to sales increases with our largest customers."

As of November 30, the Company's cash position was $4.36 million, and currently there is no borrowing against its $3.0 million line of credit. The Company has historically utilized its cash position by implementing share repurchase programs as an effective method of enhancing shareholder value. The Company's most recent share repurchase plan was terminated on July 17, 2015. The Board of Directors will consider implementing new share repurchase plans in the future as an effective use of the Company's cash position.

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 specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.





JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)





November 30,
2015


August 31,
2015







ASSETS










Current assets





Cash

$ 4,360,625


$ 4,416,297


Accounts receivable, net of allowance of $Nil (August 31, 2015 - $Nil)

4,319,826


3,688,247


Inventory, net of allowance of $72,730 (August 31, 2015 - $120,824)

8,162,241


8,351,575


Note receivable

360


1,310


Prepaid expenses

1,052,468


719,459


Prepaid income taxes

-


26,570







Total current assets

17,895,520


17,203,458







Property, plant and equipment, net

2,184,901


2,231,711







Intangible assets, net

205,073


223,250







Total assets

$ 20,285,494


$ 19,658,419







LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities










Accounts payable

$ 955,516


$ 984,955


Litigation reserve

84,010


90,671


Accrued liabilities

1,142,483


1,024,358







Total current liabilities

2,182,009


2,099,984







Deferred tax liability

47,105


34,300







Total liabilities

2,229,114


2,134,284







Contingent liabilities and commitments










Stockholders' equity





Capital stock





Authorized





21,567,564 common shares, without par value





10,000,000 preferred shares, without par value





Issued





2,476,832 common shares (August 31, 2015 – 2,476,832)

1,168,712


1,168,712


Additional paid-in capital

600,804


600,804


Retained earnings

16,286,864


15,754,619







Total stockholders' equity

18,056,380


17,524,135







Total liabilities and stockholders' equity

$ 20,285,494


$ 19,658,419






JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)





Three Months Ended
November 30,



2015


2014







SALES

$ 11,941,508


$ 7,982,617







COST OF SALES

9,561,653


6,112,594







GROSS PROFIT

2,379,855


1,870,023







OPERATING EXPENSES





Selling, general and administrative expenses

542,793


461,448


Depreciation and amortization

75,513


69,083


Wages and employee benefits

876,345


809,593








1,494,651


1,340,124







Income from operations

885,204


529,899







OTHER ITEMS





Interest and other income

8,734


6,895



8,734


6,895







Income before income taxes

893,938


536,794







Income tax expense

(361,693)


(209,007)







Net income

$ 532,245


$ 327,787







Basic earnings per common share

$ 0.21


$ 0.12







Diluted earnings per common share

$ 0.21


$ 0.12







Weighted average number of common shares outstanding:





Basic

2,476,832


2,688,942


Diluted

2,476,832


2,688,942






JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)





Three Month Periods
Ended November 30,



2015


2014







CASH FLOWS FROM OPERATING ACTIVITIES





Net income

$ 532,245


$ 327,787


Items not involving an outlay of cash:





Depreciation and amortization

75,513


69,083


Deferred income taxes

12,805


3,717


Interest income on litigation

(6,661)


(6,661)







Changes in non-cash working capital items:





Increase in accounts receivable

(631,579)


(277,686)


(Increase) decrease in inventory

189,334


(1,590,622)


Decrease in note receivable

950


15,000


Decrease in prepaid income taxes

26,570


205,171


(Increase) decrease in prepaid expenses

(333,009)


192,557


Increase in accounts payable and accrued liabilities

88,686


12,848







Net cash used by operating activities

(45,146)


(1,048,806)







CASH FLOWS FROM INVESTING ACTIVITIES





Purchase of property, plant and equipment

(10,526)


(1,280)







Net cash used in investing activities

(10,526)


(1,280)







CASH FLOWS FROM FINANCING ACTIVITIES





Redemption of common stock

-


(1,292,477)







Net cash used in financing activities

-


(1,292,477)







Net decrease in cash

(55,672)


(2,342,563)







Cash, beginning of period

4,416,297


4,327,540







Cash, end of period

$ 4,360,625


$ 1,984,977




Contact: Don Boone, President & CEO, (503) 647-0110


👍️0
Drmicrocap Drmicrocap 8 years ago
Jewett-Cameron Announces Fiscal 2015 Financial Results

.PR Newswire
Jewett-Cameron Trading Company Ltd.
November 6, 2015 4:20 PM

NORTH PLAINS, Ore., Nov. 6, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for its fourth quarter and fiscal year ended August 31, 2015.

For the fiscal year ended August 31, 2015 Jewett-Cameron reported net income of $1,773,971, or $0.69 per share, on sales of $42.24 million, compared to net income of $1,858,453, or $0.63 per diluted share, on sales of $42.34 million, reported for fiscal 2014.

Sales for the fourth quarter of fiscal 2015 totaled $11.5 million compared to sales of $9.3 million for the fourth quarter of fiscal 2014. Net income was $701,524, or $0.27 per diluted share, compared to net income of $352,147, or $0.12 per diluted share, in the fourth quarter of fiscal 2014.

"The extended winter weather across much of the US in 2015 slowed the buying of lawn and garden products and adversely affected our results. The West Coast port slowdowns also delayed the delivery of our products from manufacturers and resulted in sales order delays and higher freight costs" said CEO Don Boone. "However, we launched several new products beginning in the 3rd quarter which were well received by the marketplace, particularly by our established customer base".

As of August 31, 2015, the Company's cash position was $4.4 million, and currently there is no borrowing against its $3.0 million line of credit. During fiscal 2015, the Company repurchased and cancelled a total of 227,798 common shares at a total cost of $2,448,542, which represents an average price of $10.75. The Company's most recent share repurchase plan was terminated by the Board of Directors on July 17, 2015. The Board of Directors will consider implementing new share repurchase plans in the future as an effective use of the Company's cash position.

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 specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.





JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES


CONSOLIDATED BALANCE SHEETS


(Expressed in U.S. Dollars)


AS OF AUGUST 31





2015


2014







ASSETS










Current assets





Cash

$ 4,416,297


$ 4,327,540


Accounts receivable, net of allowance of $Nil (August 31, 2014 - $Nil)

3,688,247


2,442,928


Inventory, net of allowance of $120,824 (August 31, 2014 - $111,756)

8,351,575


9,154,129


Note receivable

1,310


15,000


Prepaid expenses

719,459


762,533


Prepaid income taxes

26,570


546,347







Total current assets

17,203,458


17,248,477







Property, plant and equipment, net

2,231,711


2,147,387







Intangible assets, net

223,250


295,956







Total assets

$ 19,658,419


$ 19,691,820












LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities










Accounts payable

$ 984,955


$ 240,825


Litigation reserve

90,671


117,387


Accrued liabilities

1,024,358


1,073,930







Total current liabilities

2,099,984


1,432,142







Deferred tax liability

34,300


60,972







Total liabilities

2,134,284


1,493,114







Contingent liabilities and commitments










Stockholders' equity





Capital stock





Authorized





21,567,564 common shares, without par value





10,000,000 preferred shares, without par value





Issued





2,476,832 common shares (August 31, 2014 – 2,704,630)

1,168,712


1,276,201


Additional paid-in capital

600,804


600,804


Retained earnings

15,754,619


16,321,701







Total stockholders' equity

17,524,135


18,198,706







Total liabilities and stockholders' equity

$ 19,658,419


$ 19,691,820






JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF OPERATIONS


(Expressed in U.S. Dollars)


YEARS ENDED AUGUST 31





2015


2014












SALES

$ 42,238,151


$ 42,339,563







COST OF SALES

33,821,114


33,961,367







GROSS PROFIT

8,417,037


8,378,196







OPERATING EXPENSES





Selling, general and administrative

1,814,899


1,700,030


Depreciation and amortization

281,762


276,340


Wages and employee benefits

3,396,793


3,317,228



5,493,454


5,293,598












Income from operations

2,923,583


3,084,598







OTHER ITEMS





Gain on sale of property, plant and equipment

-


3,546


Interest and other income

31,993


27,086



31,993


30,632







Income before income taxes

2,955,576


3,115,230







Income taxes





Current

1,208,277


1,246,198


Deferred

(26,672)


10,579







Net income for the year

1,773,971


1,858,453







Basic earnings per common share

$ 0.69


$ 0.63







Diluted earnings per common share

$ 0.69


$ 0.63







Weighted average number of common shares outstanding:





Basic

2,581,850


2,968,220


Diluted

2,581,850


2,968,220






JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF CASH FLOWS


(Expressed in U.S. Dollars)


YEARS ENDED AUGUST 31



2015


2014







CASH FLOWS FROM OPERATING ACTIVITIES





Net income for the year

$ 1,773,971


$ 1,858,453


Items not affecting cash:





Depreciation and amortization

281,762


276,340


Gain on sale of property, plant and equipment

-


(3,546)


Deferred income taxes

(26,672)


10,579


Interest income on litigation

(26,716)


(26,716)







Changes in non-cash working capital items:





Decrease (increase) in accounts receivable

(1,245,319)


901,849


Decrease in note receivable

13,690


-


Decrease (increase) in inventory

802,554


(633,138)


Decrease (increase) in prepaid expenses

43,074


(174,924)


Decrease (increase) in prepaid income taxes

519,777


(275,924)


Increase (decrease) in accounts payable and accrued liabilities

694,558


(1,550,585)







Net cash provided by operating activities

2,830,679


382,388







CASH FLOWS FROM INVESTING ACTIVITIES





Proceeds on sale of property, plant and equipment

-


4,800


Purchase of property, plant and equipment

(293,380)


(110,325)







Net cash used in investing activities

(293,380)


(105,525)







CASH FLOWS FROM FINANCING ACTIVITIES





Redemption of common stock

(2,448,542)


(4,257,768)







Net cash used in financing activities

(2,448,542)


(4,257,768)







Net increase (decrease) in cash

88,757


(3,980,905)







Cash, beginning of year

4,327,540


8,308,445







Cash, end of year

4,416,297


$ 4,327,540




Contact: Don Boone, President & CEO, (503) 647-0110
👍️0
Drmicrocap Drmicrocap 9 years ago
Jewett-Cameron Announces 3rd Quarter Financial Results

PR Newswire
Jewett-Cameron Trading Company Ltd.
July 20, 2015 4:35 PM

NORTH PLAINS, Ore., July 20, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the third quarter and nine month periods of fiscal 2015 ended May 31, 2015.

Sales for the third quarter of fiscal 2015 totaled $13.3 million compared to sales of $15.3 million for the third quarter of fiscal 2014. Income from operations was $779,340 compared to $1,552,537 for the third quarter ended May 31, 2014. Net income after other items and income taxes for the current quarter was $461,100, or $0.18 per share, compared to net income of $936,329, or $0.33 per share, in the year-ago quarter.

For the nine months ended May 31, 2015, Jewett-Cameron reported sales of $30.7 million compared to sales of $33.1 million for the nine months ended May 31, 2014. Net income was $1,072,447, or $0.41 per share, compared to net income of $1,506,306, or $0.50 per share, in the first nine months of fiscal 2014.

"The extended winter weather and West Coast port slowdowns which adversely affected our results in the second quarter continued in the third quarter," said CEO Don Boone. "These conditions negatively impacted our revenues and margins. However, we launched several new products during the quarter which were well received by the marketplace, particularly by our established customer base."

As of May 31, 2015, the Company's cash position was $1.8 million, and there was no borrowing against its $3.0 million line of credit. The Company has historically utilized its cash position by implementing share repurchase programs as an effective method of enhancing shareholder value. On February 17, 2015, the Company implemented a new share repurchase plan to purchase for cancellation up to 300,000 common shares under Rule 10b5-1 of the U.S. Securities Exchange Act of 1934. During the second quarter, no common shares were repurchased. During the third quarter of fiscal 2015 ended May 31, 2015, the Company repurchased and cancelled 89,051 common shares at a total cost of $1,101,574 which represents an average price of $12.31 per share. Subsequent to the end of the third quarter, the Company re-purchased and is in the process of cancelling a total of 4,778 common shares. The total cost was $54,491 at an average share price of $11.40 per share. Effective July 17, 2015, the Board of Directors terminated the current 10b5-1 share re-purchase plan. The Board of Directors will consider implementing new share repurchase plans in the future as an effective use of the Company's cash position.

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 specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.



JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





May 31,
2015


August 31,
2014







ASSETS










Current assets





Cash

$ 1,836,849


$ 4,327,540


Accounts receivable, net of allowance of $Nil (August 31, 2014 - $Nil)

4,926,096


2,442,928


Inventory, net of allowance of $81,249 (August 31, 2014 - $111,756) (note 3)

8,617,284


9,154,129


Note receivable

1,425


15,000


Prepaid expenses

721,339


762,533


Prepaid income taxes

195,484


546,347







Total current assets

16,298,477


17,248,477







Property, plant and equipment, net (note 4)

2,076,263


2,147,387







Intangible assets, net (note 5)

241,426


295,956







Total assets

$ 18,616,166


$ 19,691,820












LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities










Accounts payable

$ 626,523


$ 240,825


Litigation reserve (note 13(a))

97,404


117,387


Accrued liabilities

959,037


1,073,930







Total current liabilities

1,682,964


1,432,142







Deferred tax liability (note 6)

56,100


60,972







Total liabilities

1,739,064


1,493,114







Contingent liabilities and commitments (note 13)










Stockholders' equity





Capital stock (note 8)





Authorized





21,567,564 common shares, without par value





10,000,000 preferred shares, without par value





Issued





2,496,610 common shares (August 31, 2014 – 2,704,630)

1,178,044


1,276,201


Additional paid-in capital

600,804


600,804


Retained earnings

15,098,254


16,321,701







Total stockholders' equity

16,877,102


18,198,706







Total liabilities and stockholders' equity

$ 18,616,166


$ 19,691,820






JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





Three Month
Period Ended
May 31,


Nine Month
Period Ended
May 31,



2015


2014


2015


2014











SALES

$ 13,289,408


$ 15,335,570


$ 30,755,429


$ 33,074,500











COST OF SALES

11,047,607


12,384,976


24,741,485


26,516,458











GROSS PROFIT

2,241,801


2,950,594


6,013,944


6,558,042











OPERATING EXPENSES









Selling, general and administrative expenses

465,864


402,013


1,438,687


1,240,800


Depreciation and amortization

71,211


73,145


210,894


212,694


Wages and employee benefits

925,386


922,899


2,588,420


2,599,270












(1,462,461)


(1,398,057)


(4,238,001)


(4,052,764)











Income from operations

779,340


1,552,537


1,775,943


2,505,278











OTHER ITEMS









Gain on sale of property, plant and equipment

-


-


-


4,109


Interest and other income

8,534


6,734


22,617


20,008


Interest expense

(658)


-


(658)


-



7,876


6,734


21,959


24,117











Income before income taxes

787,216


1,559,271


1,797,902


2,529,395











Income tax expense

(326,116)


(622,942)


(725,455)


(1,023,089)











Net income

$ 461,100


$ 936,329


$ 1,072,447


$ 1,506,306











Basic earnings per common share

$ 0.18


$ 0.33


$ 0.41


$ 0.50











Diluted earnings per common share

$ 0.18


$ 0.33


$ 0.41


$ 0.50











Weighted average number of common shares outstanding:









Basic

2,561,702


2,866,273


2,612,199


3,042,692


Diluted

2,561,702


2,866,273


2,612,199


3,042,692















JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





Three Month
Period Ended
May 31,


Nine Month
Period Ended
May 31,



2015


2014


2015


2014











CASH FLOWS FROM OPERATING ACTIVITIES









Net income

$ 461,100


$ 936,329


$ 1,072,447


$ 1,506,306


Items not involving an outlay of cash:









Depreciation and amortization

71,211


73,145


210,894


212,694


Gain on sale of property, plant and equipment

-


-


-


(4,109)


Deferred income tax expense (recovery)

(2,163)


2,355


(4,872)


(6,011)


Interest income on litigation

(6,734)


(6,734)


(19,983)


(19,982)











Changes in non-cash working capital items:









(Increase) decrease in accounts receivable

107,980


(666,858)


(2,483,168)


(1,578,367)


Decrease in inventory

2,485,712


283,331


536,845


1,275,596


(Increase) decrease in note receivable

275


(15,000)


13,575


-


(Increase) decrease in prepaid expenses

104,098


762,010


41,194


(739,215)


(Increase) decrease in prepaid income taxes

19,133


174,587


350,863


(47,022)


Increase (decrease) in accounts payable and

accrued liabilities



631,547




133,976




270,805




(774,746)











Net cash provided by (used in) operating activities

3,872,159


1,677,141


(11,400)


(174,856)











CASH FLOWS FROM INVESTING ACTIVITIES









Purchase of property, plant and equipment

(70,543)


(18,899)


(85,240)


(94,274)


Proceeds from sale of property, plant and equipment

-


-


-


4,800











Net cash used in investing activities

(70,543)


(18,899)


(85,240)


(89,474)











CASH FLOWS FROM FINANCING ACTIVITIES









Proceeds from bank indebtedness

-


-


875,386


-


Repayment of bank indebtedness

(875,386)


-


(875,386)


-


Redemption of common stock

(1,101,574)


(3,234,699)


(2,394,051)


(3,803,718)











Net cash used in financing activities

(1,976,960)


(3,234,699)


(2,394,051)


(3,803,718)











Net increase (decrease) in cash

$ 1,824,656


$ (1,576,457)


$ (2,490,691)


$ (4,068,048)











Cash, beginning of period

$ 12,193


$ 5,816,854


$ 4,327,540


$ 8,308,445











Cash, end of period

$ 1,836,849


$ 4,240,397


$ 1,836,849


$ 4,240,397




Contact: Don Boone, President & CEO, (503) 647-0110


👍️0
Drmicrocap Drmicrocap 9 years ago
Jewett-Cameron Announces 2nd Quarter Financial Results
PR Newswire Jewett-Cameron Trading Company Ltd.
16 hours ago
????
NORTH PLAINS, Ore., April 13, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the second quarter and six month periods of fiscal 2015 ended February 28, 2015.

Sales for the second quarter of fiscal 2015 totaled $9.5 million compared to sales of $9.7 million for the second quarter of fiscal 2014. Income from operations was $466,704 compared to income of $408,818 for the quarter ended February 28, 2014. Net income was $283,560, or $0.11 per share, compared to net income of $237,398, or $0.08 per share, in the year-ago quarter.

For the six months ended February 28, 2015, sales totaled $17.5 million compared to sales of $17.7 million for the six months ended February 28, 2014. Net income was $611,347, or $0.23 per share, compared to net income of $569,977, or $0.18 per share, in the first six months of fiscal 2014.

"During the second quarter, we experienced delays in receiving certain products from our suppliers due to the West Coast port slowdowns", said CEO Don Boone. "These delays resulted in higher freight costs and, combined with the prolonged winter weather across much of the country, delayed many shipments to our customers."

These delays also resulted in higher inventory levels and a lower cash balance at the end of the period. As of February 28, 2015, the Company's cash position was $12 thousand, and there was $875 thousand borrowed against its $1.0 million line of credit. Subsequent to the end of the period, the Company increased the size of its line of credit to $3.0 million.

On February 17, 2015, the Company implemented a new share repurchase plan to purchase for cancellation up to 300,000 common shares under Rule 10b5-1 of the U.S. Securities Exchange Act of 1934. This amount represents approximately 11.6% of the 2,585,661 common shares outstanding. During the second quarter, no common shares were repurchased. Subsequent to the end of the period, during the month of March 2015, the Company repurchased 1,103 common shares under the Plan. The total cost was $11,406 at an average share price of $10.34 per share. The Plan will remain in place until August 14, 2015 but may be limited or terminated at any time without prior notice.

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 specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.



JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





February 28,
2015

August 31,
2014




ASSETS







Current assets



Cash
$ 12,193

$ 4,327,540
Accounts receivable, net of allowance of $Nil (August 31, 2014 - $Nil)
5,034,076

2,442,928
Inventory, net of allowance of $90,384 (August 31, 2014 - $111,756) (note 3)
11,102,996

9,154,129
Note receivable
1,700

15,000
Prepaid expenses
825,437

762,533
Prepaid income taxes
214,617

546,347




Total current assets
17,191,019

17,248,477




Property, plant and equipment, net (note 4)
2,058,754

2,147,387




Intangible assets, net (note 5)
259,603

295,956




Total assets
$ 19,509,376

$ 19,691,820








LIABILITIES AND STOCKHOLDERS' EQUITY







Current liabilities







Bank Indebtedness (note 7)
$ 875,386

$ -
Accounts payable
189,777

240,825
Litigation reserve (note 13(a))
104,138

117,387
Accrued liabilities
764,236

1,073,930




Total current liabilities
1,933,537

1,432,142




Deferred tax liability (note 6)
58,263

60,972




Total liabilities
1,991,800

1,493,114




Contingent liabilities and commitments (note 13)







Stockholders' equity



Capital stock (note 8)



Authorized



21,567,564 common shares, without par value



10,000,000 preferred shares, without par value



Issued



2,585,661 common shares (August 31, 2014 – 2,704,630)
1,220,064

1,276,201
Additional paid-in capital
600,804

600,804
Retained earnings
15,696,708

16,321,701




Total stockholders' equity
17,517,576

18,198,706




Total liabilities and stockholders' equity
$ 19,509,376

$ 19,691,820


JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





Three Month
Period Ended
February 28,

Six Month
Period Ended
February 28,

2015

2014

2015

2014








SALES
$ 9,483,404

$ 9,732,649

$ 17,466,021

$17,738,930








COST OF SALES
7,581,284

7,974,979

13,693,878

14,131,481








GROSS PROFIT
1,902,120

1,757,670

3,772,143

3,607,449








OPERATING EXPENSES







Selling, general and administrative expenses
511,375

446,900

972,823

838,786
Depreciation and amortization
70,600

69,531

139,683

139,550
Wages and employee benefits
853,441

832,421

1,663,034

1,676,371

1,435,416

1,348,852

2,775,540

2,654,707








Income from operations
466,704

408,818

996,603

952,742








OTHER ITEMS







Gain on sale of property, plant and equipment
-

-

-

4,109
Interest and other income
7,188

6,612

14,083

13,273

7,188

6,612

14,083

17,382








Income before income taxes
473,892

415,430

1,010,686

970,124








Income tax expense
(190,332)

(178,032)

(399,339)

(400,147)








Net income
$ 283,560

$ 237,398

$ 611,347

$ 569,977








Basic earnings per common share
$ 0.11

$ 0.08

$ 0.23

$ 0.18








Diluted earnings per common share
$ 0.11

$ 0.08

$ 0.23

$ 0.18








Weighted average number of common shares outstanding:







Basic
2,585,661

3,129,764

2,637,587

3,132,365
Diluted
2,585,661

3,129,764

2,637,587

3,132,365


JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)





Three Month
Period Ended February 28,

Six Month
Period Ended February 28,

2015

2014

2015

2014








CASH FLOWS FROM OPERATING ACTIVITIES







Net income
$ 283,560

$ 237,398

$ 611,347

$ 569,977
Items not involving an outlay of cash:







Depreciation and amortization
70,600

69,531

139,683

139,550
Gain on sale of property, plant and equipment
-

-

-

(4,109)
Deferred income taxes
(6,426)

(3,802)

(2,709)

(8,366)
Interest income on litigation
(6,588)

(6,588)

(13,249)

(13,249)








Changes in non-cash working capital items:







Increase in accounts receivable
(2,313,462)

(2,018,552)

(2,591,148)

(911,509)
(Increase) decrease in inventory
(358,245)

846,025

(1,948,867)

992,265
(Increase) decrease in note receivable
(1,700)

-

13,300

15,000
Increase in prepaid expenses
(255,461)

(1,205,662)

(62,904)

(1,501,225)
(Increase) decrease in prepaid income taxes
126,559

(448,288)

331,730

(221,609)
Increase (decrease) in accounts payable and
accrued liabilities
(373,590)

837,196

(360,742)

(908,722)








Net cash used in operating activities
(2,834,753)

(1,692,742)

(3,883,559)

(1,851,997)








CASH FLOWS FROM INVESTING ACTIVITIES







Purchase of property, plant and equipment
(13,417)

(17,457)

(14,697)

(75,375)
Proceeds from sale of property, plant and
equipment
-

-

-

4,800








Net cash used in investing activities
(13,417)

(17,457)

(14,697)

(70,575)








CASH FLOWS FROM FINANCING ACTIVITIES







Proceeds from bank indebtedness
875,386

-

875,386

-
Redemption of common stock
-

(569,019)

(1,292,477)

(569,019)








Net cash provided by (used in) financing activities
875,386

(569,019)

(417,091)

(569,019)








Net decrease in cash
(1,972,784)

(2,279,218)

(4,315,347)

(2,491,591)








Cash, beginning of period
1,984,977

8,096,072

4,327,540

8,308,445








Cash, end of period
$ 12,193

$ 5,816,854

$ 12,193

$ 5,816,854


Contact: Don Boone, President & CEO, (503) 647-0110

👍️0
Drmicrocap Drmicrocap 9 years ago
Jewett-Cameron Trading Company Ltd. Announces the Completion of its Share Repurchase Plan
PR Newswire Jewett-Cameron Trading Company Ltd.
November 17, 2014 4:15 PM
????

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NasdaqCMWed, Nov 19, 2014 12:56 PM EST

JEWETT CAMERON TRADING CO LTD Files SEC form 8-K, Other Events, Financial Statements and Exhibits EDGAR Online 2 days 20 hrs ago
JEWETT CAMERON TRADING CO LTD Financials EDGAR Online Financials 14 days ago
More
NORTH PLAINS, Ore., Nov. 17, 2014 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (the "Company") (JCTCF) today is announcing the completion of its 10b5-1 share repurchase plan previously announced on April 9, 2014. Between April 9, 2014 and November 14, 2014, the Company repurchased and is in the process of cancelling a total of 235,782 shares of its common stock. The total cost was $2,494,654 at an average share price of $10.58 per share. Once the remaining repurchased shares are cancelled, the Company will have a total of 2,585,661 common shares outstanding. As part of its ongoing consideration of alternative ways to leverage the Company's strong cash position, the Company's Board of Directors is currently evaluating the implementation of another 10b5-1 share repurchase plan.

About Jewett-Cameron Trading Company Ltd.

Jewett-Cameron Trading Company Ltd. was incorporated in British Columbia on July 8, 1987 as a holding company for Jewett-Cameron Lumber Corporation ("JCLC"), incorporated September 1953. Jewett-Cameron Trading Company, Ltd. acquired all the shares of JCLC through a stock-for-stock exchange on July 13, 1987, and at that time JCLC became a wholly owned subsidiary. Effective September 1, 2013, Jewett-Cameron reorganized certain of its subsidiaries. JCLC's name was changed to JC USA Inc. ("JC USA"), and a new subsidiary, Jewett-Cameron Company ("JCC"), was incorporated. JC USA has the following wholly owned subsidiaries: MSI-PRO Co. ("MSI"), incorporated April 1996, Jewett-Cameron Seed Company, ("JCSC"), incorporated October 2000, Greenwood Products, Inc. ("Greenwood"), incorporated February 2002, and Jewett-Cameron Company ("JCC"), incorporated September 2013. Jewett-Cameron Trading Company, Ltd. and its subsidiaries (the "Company") have no significant assets in Canada.

The Company, through its subsidiaries, operates out of facilities located in North Plains, Oregon. JCC's business consists of the manufacturing and distribution of specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood is a processor and distributor of industrial wood products used in a variety of markets and applications, including the marine and transportation markets. MSI is an importer and distributor of pneumatic air tools and industrial clamps in the United States. JCSC is a processor and distributor of agricultural seeds in the United States. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Safe Harbor Statement

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, certain statements and expectations regarding the asset acquisition, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Jewett-Cameron's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. We disclaim any intention or obligation to update any forward-looking statements.

For further information, contact:

Donald Boone
President/CEO, Jewett-Cameron Trading Company Ltd.
(503) 647-0110
👍️0
Drmicrocap Drmicrocap 10 years ago
Jewett-Cameron Announces 2nd Quarter Financial Results
PR Newswire Jewett-Cameron Trading Company Ltd.
19 hours ago
NORTH PLAINS, Ore., April 9, 2014 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the second quarter and six month periods of fiscal 2014 ended February 28, 2014.

Sales for the second quarter of fiscal 2014 totaled $9.7 million compared to sales of $14.2 million for the second quarter of fiscal 2013. Income from operations was $408,818 compared to income of $979,059 for the quarter ended February 28, 2013. Second quarter 2013 income included the one-time gain of $353,852 related to the sale of property. Net income after other items and income taxes for the current quarter was $237,398, or $0.08 per share, compared to net income of $790,631, or $0.25 per share, in the year-ago quarter.

For the six months ended February 28, 2014, Jewett-Cameron reported sales of $17.7 million compared to sales of $23.5 million for the six months ended February 28, 2013. Net income was $569,977, or $0.18 per share, compared to net income of $1,271,377, or $0.41 per share, in the first six months of fiscal 2013. The year ago period was positively affected by the one-time gain on the sale of property.

"The second quarter and six month results were negatively affected by a delay in our orders from our suppliers caused by manufacturing constraints around Chinese New Year," said CEO Don Boone. "Due to these constraints, shipments to our customers were delayed and also pushed back the rollout of several new products. We do not expect these constraints to continue in the remainder of fiscal 2014."

As of February 28, 2014, the Company's cash position was $5.8 million, and there was no borrowing against its $5.0 million line of credit. In the second quarter of fiscal 2014, the Company repurchased and cancelled 58,180 common shares at a cost of $569,019, which represents an average price of $9.78 per share. Subsequent to the end of the second quarter, the Company re-purchased and is in the process of cancelling a total of 255,313 additional shares of its common stock at a total cost of $2,486,571 at an average price of $9.74 per share. These purchases were pursuant to the Company's share re-purchase plan first announced on January 13, 2014 which has now been completed and terminated. Today the Company's Board of Directors authorized the implementation of a new share repurchase plan under Rule 10b-18. Under the new plan, the Company may purchase for cancellation up to 300,000 common shares, which represents approximately 10.6% of the 2,821,443 common shares currently outstanding. The Company has historically utilized its cash position by implementing share repurchase programs as an effective method of enhancing shareholder value.

About Jewett-Cameron Trading Company Ltd.

Jewett-Cameron Trading Company Ltd. was incorporated in British Columbia on July 8, 1987 as a holding company for Jewett-Cameron Lumber Corporation ("JCLC"), incorporated September 1953. Jewett-Cameron Trading Company, Ltd. acquired all the shares of JCLC through a stock-for-stock exchange on July 13, 1987, and at that time JCLC became a wholly owned subsidiary. Effective September 1, 2013, Jewett-Cameron reorganized certain of its subsidiaries. JCLC's name was changed to JC USA Inc. ("JC USA"), and a new subsidiary, Jewett-Cameron Company ("JCC"), was incorporated. JC USA has the following wholly owned subsidiaries: MSI-PRO Co. ("MSI"), incorporated April 1996, Jewett-Cameron Seed Company, ("JCSC"), incorporated October 2000, Greenwood Products, Inc. ("Greenwood"), incorporated February 2002, and Jewett-Cameron Company ("JCC"), incorporated September 2013. Jewett-Cameron Trading Company, Ltd. and its subsidiaries (the "Company") have no significant assets in Canada.

The Company, through its subsidiaries, operates out of facilities located in North Plains, Oregon. JCC's business consists of the manufacturing and distribution of specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood is a processor and distributor of industrial wood products used in a variety of markets and applications, including the marine and transportation markets. MSI is an importer and distributor of pneumatic air tools and industrial clamps in the United States. JCSC is a processor and distributor of agricultural seeds in the United States. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.



JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)


February 28,
2014

August 31,
2013




ASSETS







Current assets



Cash
$ 5,816,854

$ 8,308,445
Accounts receivable, net of allowance of $Nil (August 31, 2013 - $Nil)
4,256,286

3,344,777
Inventory, net of allowance of $134,259 (August 31, 2013 - $134,259) (note 3)
7,528,726

8,520,991
Note receivable
-

15,000
Prepaid expenses
2,088,834

587,609
Prepaid income taxes
492,032

270,423




Total current assets
20,182,732

21,047,245




Property, plant and equipment, net (note 4)
2,213,436

2,241,950

Intangible assets, net (note 5)

332,310


368,662




Total assets
$ 22,728,478

$ 23,657,857




LIABILITIES AND STOCKHOLDERS' EQUITY







Current liabilities







Accounts payable
$ 1,190,980

$ 1,715,458
Litigation reserve (note 13(a))
130,854

144,103
Accrued liabilities
765,638

1,149,882




Total current liabilities
2,087,472

3,009,443




Deferred tax liability (note 6)
42,027

50,393




Total liabilities
2,129,499

3,059,836




Contingent liabilities and commitments (note 13)







Stockholders' equity



Capital stock (note 8)



Authorized



21,567,564 common shares, without par value



10,000,000 preferred shares, without par value



Issued



3,076,756 common shares (August 31, 2013 - 3,134,936)
1,451,791

1,479,246
Additional paid-in capital
600,804

600,804
Retained earnings
18,546,384

18,517,971




Total stockholders' equity
20,598,979

20,598,021




Total liabilities and stockholders' equity
$ 22,728,478

$ 23,657,857




JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)


Three Month Period
Ended February 28,

Six Month Period
Ended February 28,

2014

2013

2014

2013








SALES
$ 9,732,649

$ 14,227,824

$ 17,738,930

$ 23,524,229








COST OF SALES
7,974,979

11,788,155

14,131,481

19,093,554








GROSS PROFIT
1,757,670

2,439,669

3,607,449

4,430,675








OPERATING EXPENSES







Selling, general and administrative expenses
446,900

468,162

838,786

803,982
Depreciation and amortization
69,531

64,202

139,550

121,696
Wages and employee benefits
832,421

928,246

1,676,371

1,753,553

1,348,852

1,460,610

2,654,707

2,679,231








Income from operations
408,818

979,059

952,742

1,751,444








OTHER ITEMS







Gain on sale of property, plant and equipment
-

353,852

4,109

353,852
Interest and other income
6,612

6,605

13,273

23,315
Interest expense
-

(400)

-

(400)

6,612

360,057

17,382

376,767








Income before income taxes
415,430

1,339,116

970,124

2,128,211








Income tax expense
(178,032)

(548,485)

(400,147)

(856,834)








Net income
$ 237,398

$ 790,631

$ 569,977

$ 1,271,377








Basic earnings per common share
$ 0.08

$ 0.25

$ 0.18

$ 0.41








Diluted earnings per common share
$ 0.08

$ 0.25

$ 0.18

$ 0.41








Weighted average number of common shares outstanding:







Basic
3,129,764

3,135,860

3,132,365

3,135,902
Diluted
3,129,764

3,135,860

3,132,365

3,135,902


JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)


Three Month Period
Ended February 28,

Six Month Period
Ended February 28,

2014

2013

2014

2013








CASH FLOWS FROM OPERATING ACTIVITIES







Net income
$ 237,398

$ 790,631

$ 569,977

$ 1,271,377
Items not involving an outlay of cash:







Depreciation and amortization
69,531

64,202

139,550

121,696
Gain on sale of property, plant and equipment
-

(353,852)

(4,109)

(353,852)
Deferred income taxes
(3,802)

137,100

(8,366)

151,423
Interest income on litigation
(6,588)

(6,588)

(13,249)

(13,249)








Changes in non-cash working capital items:







Increase in accounts receivable
(2,018,552)

(4,628,402)

(911,509)

(4,202,382)
Decrease in inventory
846,025

68,731

992,265

1,393,096
Decrease in note receivable
-

-

15,000

20,000
(Increase) decrease in prepaid expenses
(1,205,662)

537,657

(1,501,225)

(1,041,955)
Increase in prepaid income taxes
(448,288)

(253,952)

(221,609)

(253,952)
Increase (decrease) in accounts payable and accrued liabilities

837,196


675,104


(908,722)


(296,125)
Decrease in accrued income taxes
-

(330,957)

-

(37,203)








Net cash used in operating activities
(1,692,742)

(3,300,326)

(1,851,997)

(3,241,126)








CASH FLOWS FROM INVESTING ACTIVITIES







Purchase of property, plant and equipment
(17,457)

(18,657)

(75,375)

(130,790)
Proceeds from sale of property, plant and equipment

-


410,000


4,800


410,000








Net cash provided by (used in) investing activities
(17,457)

391,343

(70,575)

279,210








CASH FLOWS FROM FINANCING ACTIVITIES







Redemption of common stock
(569,019)

(4,884)

(569,019)

(4,884)








Net cash used in financing activities
(569,019)

(4,884)

(569,019)

(4,884)








Net decrease in cash
(2,279,218)

(2,913,867)

(2,491,591)

(2,966,800)








Cash, beginning of period
8,096,072

7,256,455

8,308,445

7,309,388








Cash, end of period
$ 5,816,854

$ 4,342,588

$ 5,816,854

$ 4,342,588
Contact: Don Boone, President & CEO, (503) 647-0110
👍️0
Drmicrocap Drmicrocap 10 years ago
Jewett-Cameron Announces 1st Quarter Financial Results
PR Newswire Jewett-Cameron Trading Company Ltd.
53 minutes ago
NORTH PLAINS, Ore., Jan. 13, 2014 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the first quarter of fiscal 2014 ended November 30, 2013.

Sales were $8.01 million for the first quarter of fiscal 2014 compared to sales of $9.30 million for the first quarter of fiscal 2013. For the quarter, income from operations was $543,924 compared to $772,385 in the year-ago quarter. Net income for the quarter was $332,579, or $0.11 per share, compared to net income of $480,746, or $0.15 per share, in the first quarter of fiscal 2013. Per share amounts have been adjusted for the 2 for 1 stock split of the common shares effective May 2, 2013.

"Our markets have become much more competitive," said CEO Don Boone. "In response, we have increased our efforts to obtain new business and expand our customer base to smaller and mid-size customers. These initiatives resulted in higher selling expenses during the quarter."

As of November 30, 2013, the Company's cash position was $8.096 million, and currently there is no borrowing against its $5.0 million line of credit. Today, the Company announced a new share re-purchase plan where it can repurchase for cancellation up to 313,493 common shares representing 10% of the approximately 3.1 million common shares outstanding. This share repurchase plan may commence on January 20, 2014 and will remain in place until May 16, 2014 but may be limited or terminated at any time without prior notice.

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 specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.



JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)








November 30,
2013

August 31,
2013




ASSETS







Current assets



Cash
$ 8,096,072

$ 8,308,445
Accounts receivable, net of allowance
of $Nil (August 31, 2013 - $Nil)

2,237,734


3,344,777
Inventory, net of allowance
of $134,259 (August 31, 2013 - $134,259) (note 3)

8,374,751


8,520,991
Note receivable
-

15,000
Prepaid expenses
883,172

587,609
Prepaid income taxes
43,744

270,423




Total current assets
19,635,473

21,047,245




Property, plant and equipment, net (note 4)
2,247,334

2,241,950

Intangible assets, net (note 5)

350,486


368,662




Total assets
$ 22,233,293

$ 23,657,857




LIABILITIES AND STOCKHOLDERS' EQUITY







Current liabilities







Accounts payable
$ 453,525

$ 1,715,458
Litigation reserve (note 13(a))
137,442

144,103
Accrued liabilities
665,897

1,149,882




Total current liabilities
1,256,864

3,009,443




Deferred tax liability (note 6)
45,829

50,393




Total liabilities
1,302,693

3,059,836




Contingent liabilities and commitments (note 13)







Stockholders' equity



Capital stock (note 8)



Authorized



21,567,564 common shares, without par value



10,000,000 preferred shares, without par value



Issued



3,134,936 common shares (August 31, 2013 - 3,134,936)
1,479,246

1,479,246
Additional paid-in capital
600,804

600,804
Retained earnings
18,850,550

18,517,971




Total stockholders' equity
20,930,600

20,598,021




Total liabilities and stockholders' equity
$ 22,233,293

$ 23,657,857




JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)




Three Months Ended
November 30,

2013

2012




SALES
$ 8,006,281

$ 9,296,405




COST OF SALES
6,156,502

7,305,399




GROSS PROFIT
1,849,779

1,991,006




OPERATING EXPENSES



Selling, general and administrative expenses
391,886

335,820
Depreciation and amortization
70,019

57,494
Wages and employee benefits
843,950

825,307





1,305,855

1,218,621




Income from operations
543,924

772,385




OTHER ITEMS



Interest and other income
6,661

16,710
Gain on sale of equipment
4,109

-

10,770

16,710




Income before income taxes
554,694

789,095




Income tax expense
(222,115)

(308,349)




Net income
$ 332,579

$ 480,746




Basic earnings per common share
$ 0.11

$ 0.15




Diluted earnings per common share
$ 0.11

$ 0.15




Weighted average number of common shares outstanding:



Basic
3,134,936

3,135,942
Diluted
3,134,936

3,135,942


JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)




Three Month Periods
Ended November 30,

2013

2012




CASH FLOWS FROM OPERATING ACTIVITIES



Net income
$ 332,579

$ 480,746
Items not involving an outlay of cash:



Depreciation and amortization
70,019

57,494
Gain on sale of equipment
(4,109)

-
Deferred income taxes
(4,564)

14,323
Interest income on litigation
(6,661)

(6,661)




Changes in non-cash working capital items:



Decrease in accounts receivable
1,107,043

426,020
Decrease in inventory
146,240

1,324,365
Decrease in note receivable
15,000

20,000
Decrease in prepaid income taxes
226,679

-
Increase in prepaid expenses
(295,563)

(1,579,612)
Decrease in accounts payable and accrued liabilities
(1,745,918)

(971,229)
Increase in accrued income taxes
-

293,754




Net cash provided (used) by operating activities
(159,255)

59,200




CASH FLOWS FROM INVESTING ACTIVITIES



Purchase of property, plant and equipment
(57,918)

(112,133)
Proceeds from sale of equipment
4,800

-




Net cash used in investing activities
(53,118)

(112,133)




Net decrease in cash
(212,373)

(52,933)




Cash, beginning of period
8,308,445

7,309,388




Cash, end of period
$ 8,096,072

$ 7,256,455


Contact: Don Boone, President & CEO, (503) 647-0110
👍️0
Drmicrocap Drmicrocap 10 years ago
..
Jewett-Cameron Announces Fiscal 2013 Financial Results
PR NewswirePress Release: Jewett-Cameron Trading Company Ltd. –

NORTH PLAINS, Ore., Oct. 30, 2013 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for its fourth quarter and fiscal year ended August 31, 2013.

For the fiscal year ended August 31, 2013 Jewett-Cameron reported net income after other items and income taxes of $3,132,019, or $1.00 per diluted share, on sales of $49.29 million, compared to net income of $3,059,931, or $0.89 per diluted share, on sales of $45.95 million, reported for fiscal 2012. The net income in the current year was positively affected by a one-time gain on the sale of property of $353,852 and the prior year's net income was positively affected by litigation income and related interest of $1,457,096. Excluding other items and taxes, income from operations rose to $4,673,690 in fiscal 2013 from $3,563,140 in fiscal 2012.

Sales for the fourth quarter of fiscal 2013 totaled $10.7 million compared to sales of $10.8 million for the fourth quarter of fiscal 2012. The company reported net income of $842,078, or $0.27 per diluted share compared to net income of $771,034, or $0.23 per diluted share, in the fourth quarter of fiscal 2012. All per share amounts have been adjusted for the 2 for 1 stock split of the common shares effective May 2, 2013.

"Our higher sales were primarily due to successful sales efforts and the introduction of several new products," said CEO Don Boone. "We also completed an expansion of our North Plains warehouse which will more easily support the Company's sales growth."

As of August 31, 2013, the Company's cash position was $8.3 million, and currently there is no borrowing against its $5.0 million line of credit. During fiscal 2013, the company repurchased and cancelled a total of 1,006 common shares at a total cost of $7,188, which represents an average price of $7.15 per share.

About Jewett-Cameron Trading Company Ltd.

Jewett-Cameron Trading Company is a holding company that operates through subsidiary companies as follows. Jewett-Cameron Lumber Corporation 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 Company is a processor and distributor of agricultural seeds.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.







JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars)

AS OF AUGUST 31








2013


2012







ASSETS










Current assets





Cash

$ 8,308,445


$ 7,309,388


Accounts receivable, net of allowance

of $Nil (August 31, 2012 - $6,509)



3,344,777




3,092,842


Inventory, net of allowance

of $134,259 (August 31, 2012 - $139,869) (note 3)



8,520,991




7,085,389


Note receivable

15,000


20,000


Prepaid expenses

587,609


388,957


Prepaid income taxes

270,423


-







Total current assets

21,047,245


17,896,576







Property, plant and equipment, net (note 4)

2,241,950


1,997,109




Intangible assets, net (note 5)



368,662




444,203







Deferred tax assets (note 6)

-


101,573







Total assets

$ 23,657,857


$ 20,439,461







LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities










Accounts payable

$ 1,715,458


$ 1,577,182


Litigation reserve (note 13(a))

144,103


170,819


Accrued liabilities

1,149,882


1,181,067


Accrued income taxes

-


37,203







Total current liabilities

3,009,443


2,966,271







Deferred tax liability (note 6)

50,393


-







Total liabilities

3,059,836


2,966,271







Contingent liabilities and commitments (note 13)










Stockholders' equity





Capital stock (note 8)





Authorized





21,567,564 common shares, without par value





10,000,000 preferred shares, without par value





Issued





3,134,936 common shares (August 31, 2012 - 3,135,942)

1,479,246


1,479,721


Additional paid-in capital

600,804


600,804


Retained earnings

18,517,971


15,392,665







Total stockholders' equity

20,598,021


17,473,190







Total liabilities and stockholders' equity

$ 23,657,857


$ 20,439,461








JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Expressed in U.S. Dollars)

YEAR ENDED AUGUST 31





2013


2012












SALES

$ 49,286,147


$ 45,945,530







COST OF SALES

39,455,054


37,306,129







GROSS PROFIT

9,831,093


8,639,401







OPERATING EXPENSES





Selling, general and administrative

1,503,226


1,463,550


Depreciation and amortization

256,487


244,216


Wages and employee benefits

3,397,690


3,368,495





5,157,403




5,076,261












Income from operations

4,673,690


3,563,140







OTHER ITEMS





Gain on sale of property, plant and equipment

353,852


-


Interest and other income

37,383


13,225


Litigation income (note 13(a))

-


1,443,629



391,235


1,456,854







Income before income taxes

5,064,925


5,019,994







Income taxes (note 6)





Current

1,780,940


1,903,774


Deferred

151,966


56,289







Net income for the year

$ 3,132,019


$ 3,059,931







Basic earnings per common share

$ 1.00


$ 0.89







Diluted earnings per common share

$ 1.00


$ 0.89







Weighted average number of common shares outstanding:





Basic

3,135,509


3,444,212


Diluted

3,135,509


3,444,212






JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars)

YEAR ENDED AUGUST 31







2013




2012












CASH FLOWS FROM OPERATING ACTIVITIES





Net income for the year

$ 3,132,019


$ 3,059,931


Items not affecting cash:





Depreciation and amortization

256,487


244,216


Gain on sale of property, plant and equipment

(353,852)


-


Deferred income taxes

151,966


56,289


Litigation income

-


(1,443,629)


Interest income on litigation

(26,716)


(13,467)







Changes in non-cash working capital items:





Decrease (increase) in accounts receivable

(251,935)


804,244


Decrease in note receivable

5,000


21,500


Increase in inventory

(1,435,602)


(1,269,796)


Decrease (increase) in prepaid expenses

(198,652)


459,384


Decrease (increase) in prepaid income taxes

(270,423)


682,527


Increase in accounts payable and accrued liabilities

107,091


1,297,138


Increase (decrease) in accrued income taxes

(37,203)


37,203







Net cash provided by operating activities

1,078,180


3,935,540







CASH FLOWS FROM INVESTING ACTIVITIES





Proceeds on sale of property, plant and equipment

410,000


-


Purchase of property, plant and equipment

(481,935)


(311,670)


Purchase of intangible assets and other

-


(13,050)







Net cash used in investing activities

(71,935)


(324,720)







CASH FLOWS FROM FINANCING ACTIVITIES





Redemption of common stock

(7,188)


(3,075,559)







Net cash used in financing activities

(7,188)


(3,075,559)







Net increase in cash

999,057


535,261







Cash, beginning of year

7,309,388


6,774,127







Cash, end of year

$ 8,308,445


$ 7,309,388




Contact: Don Boone, President & CEO, (503) 647-0110
👍️0
sedleell sedleell 11 years ago
I guess I should just hope this keeps going down? Last quarter looked great to me and nothing has changed. The seed cleaning thing doesn't seem to be a big deal to me considering that they still grew as a whole pretty much in every category. Maybe I am missing something? I'm thinking I'll probably average down soon.
👍️0
Drmicrocap Drmicrocap 11 years ago
Jewett-Cameron Announces 3rd Quarter Financial Results
PR NewswirePress Release: Jewett-Cameron Trading Company Ltd. – NORTH PLAINS, Ore., July 11, 2013 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the third quarter and nine month periods of fiscal 2013 ended May 31, 2013.

Sales for the third quarter of fiscal 2013 totaled $15.05 million compared to sales of $16.11 million for the third quarter of fiscal 2012. For the quarter, income from operations were $1,686,508 compared to $1,556,199 in the year-ago quarter. After other items and income taxes, the Company reported net income of $1,018,564, or $0.32 per basic and diluted share, compared to net income of $937,090, or $0.29 per basic and diluted share, in last year's third quarter, after adjusting for the Company's 2 for 1 stock split effective May 2, 2013.

For the nine months ended May 31, 2013, Jewett-Cameron reported sales of $38.58 million compared to sales of $35.10 million for the nine months ended May 31, 2012. Income from operations was $3,437,952 in the current nine month period compared to income of $2,391,570 in the year-ago nine month period. The current nine month period was positively affected by the gain on sale of property of $353,852 while the year-ago nine month period was positively affected by the reversal of Litigation Reserves totaling $1,443,629. Including the one-time gains, net income for the nine months ended May 31, 2013 was $2,289,941, or $0.73 per basic and diluted share, compared to net income of $2,288,897, or $0.65 per basic and diluted share, in the prior nine month period, after adjustment for the 2 for 1 stock split.

"An increasing shift towards e-commerce sales of our metal products through our customer's online websites has resulted in lower costs and higher margins," said CEO Don Boone. "We also completed the 2 for 1 stock split of our common shares, and our strong cash position combined with the additional liquidity corresponds to our practice of implementing share re-purchase programs, which we believe is an effective method of enhancing shareholder value."

As of May 31st, 2013, the Company's cash position was $7.68 million, and there is currently no borrowing against its $5.0 million line of credit. During the nine months ended May 31, 2013, the company repurchased and cancelled a total of 814 common shares at a total cost of $4,884, which represents an average price of $6.00 per share. On May 29, 2013, the Company announced the implementation of a new share repurchase plan for the purchase and cancellation of up to 400,000 common shares, which represents approximately 13% of the approximately 3.1 million shares outstanding. The plan commenced on June 3, 2013, and will remain in place until August 16, 2013, but may be limited or terminated at any time without prior notice.

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 Lumber Corporation's business consists of the manufacturing and distribution of specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. 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 Company is a processor and distributor of agricultural seeds.

Forward-looking Statements

The information in this release contains certain forward-looking statements that anticipate future trends and events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks, including but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry, and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from predictions contained herein.







JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)








May 31,

2013


August 31,

2012







ASSETS










Current assets





Cash

$ 7,678,879


$ 7,309,388


Accounts receivable, net of allowance

of $0 (August 31, 2012 - $6,509)



4,820,700




3,092,842


Inventory, net of allowance

of $139,333 (August 31, 2012 - $139,869) (note 3)



4,674,912




7,085,389


Note receivable

15,000


20,000


Prepaid expenses

1,890,437


388,957


Prepaid income taxes

125,868


-







Total current assets

19,205,796


17,896,576







Property, plant and equipment, net (note 4)

1,995,645


1,997,109







Intangible assets, net (note 5)

384,767


444,203







Deferred income taxes (note 6)

-


101,573







Total assets

$ 21,586,208


$ 20,439,461







LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities










Accounts payable

$ 410,948


$ 1,577,182


Litigation reserve (note 12(a))

150,837


170,819


Accrued liabilities

1,215,732


1,181,067


Accrued income taxes

-


37,203







Total current liabilities

1,777,517


2,966,271







Deferred tax liability (note 6)

50,444


-







Total liabilities

1,827,961


2,966,271







Contingent liabilities and commitments (note 12)










Stockholders' equity





Capital stock (note 8)





Authorized





21,567,564 common shares, without par value





10,000,000 preferred shares, without par value





Issued





3,135,128 common shares (August 31, 2012 – 3,135,942)

1,479,337


1,479,721


Additional paid-in capital

600,804


600,804


Retained earnings

17,678,106


15,392,665







Total stockholders' equity

19,758,247


17,473,190







Total liabilities and stockholders' equity

$ 21,586,208


$ 20,439,461








JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)








Three Month Periods

to May 31,


Nine Month Periods

to May 31,



2013


2012


2013


2012











SALES

$ 15,051,509


$ 16,113,435


$ 38,575,738


$ 35,105,842











COST OF SALES

12,021,388


13,306,308


31,114,942


28,741,219











GROSS PROFIT

3,030,121


2,807,127


7,460,796


6,364,623











OPERATING EXPENSES









Selling, general and administrative expenses

372,191


233,947


1,176,173


1,122,892


Depreciation and amortization

66,735


61,279


188,431


186,773


Wages and employee benefits

904,687


955,702


2,658,240


2,663,388



1,343,613


1,250,928


4,022,844


3,973,053











Income from operations

1,686,508


1,556,199


3,437,952


2,391,570











OTHER ITEMS









Gain on sale of property, plant and equipment



-




-




353,852




-


Interest and other income

6,734


7,234


30,049


7,234


Interest expense (note 12(a))

-


(743)


(400)


(743)


Litigation income (note 12(a))

-


-


-


1,443,629



6,734


6,491


383,501


1,450,120











Income before income taxes

1,693,242


1,562,690


3,821,453


3,841,690











Income tax expense

(674,678)


(625,600)


(1,531,512)


(1,552,793)











Net income

$ 1,018,564


$ 937,090


$ 2,289,941


$ 2,288,897











Basic earnings per common share

$ 0.32


$ 0.29


$ 0.73


$ 0.65











Diluted earnings per common share

$ 0.32


$ 0.29


$ 0.73


$ 0.65











Weighted average number of common shares outstanding:









Basic

3,135,128


3,199,702


3,135,641


3,547,718


Diluted

3,135,128


3,199,702


3,135,641


3,547,718

















JEWETT-CAMERON TRADING COMPANY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars)

(Prepared by Management)

(Unaudited)








Three Month Periods

to May 31,


Nine Month Periods

to May 31,



2013


2012


2013


2012











CASH FLOWS FROM OPERATING ACTIVITIES









Net income

$ 1,018,564


$ 937,090


$ 2,289,941


$ 2,288,897


Items not involving an outlay of cash:









Depreciation and amortization

66,735


61,279


188,431


186,773


Gain on sale of property, plant and equipment

-


-


(353,852)


-


Deferred income tax expense

594


495


152,017


2,052


Interest income on litigation

(6,734)


-


(19,982)


-











Changes in non-cash working capital items:









(Increase) decrease in accounts receivable

2,474,524


(1,219,911)


(1,727,858)


(1,276,868)


Decrease in inventory

1,017,381


1,484,917


2,410,477


817,143


(Increase) decrease in note receivable

(15,000)


-


5,000


(20,000)


Increase in prepaid expenses

(459,525)


(506,245)


(1,501,480)


(859,629)


(Increase) decrease in prepaid income taxes

128,084


-


(125,868)


682,527


Decrease in accounts payable and

accrued liabilities



(835,443)




(16,511)




(1,131,569)




(1,035,089)


Increase (decrease) in accrued income taxes

-


(24,188)


(37,203)


204,170











Net cash provided by operating activities

3,389,180


716,926


148,054


989,976











CASH FLOWS FROM INVESTING ACTIVITIES









Purchase of property, plant and equipment

(52,889)


(5,675)


(183,679)


(36,206)


Purchase of intangible assets and other

-


-


-


(13,050)


Proceeds from sale of property, plant and

equipment



-




-




410,000




-











Net cash provided by (used in) investing activities

(52,889)


(5,675)


226,321


(49,256)











CASH FLOWS FROM FINANCING ACTIVITIES









Redemption of common stock

-


(382,510)


(4,884)


(3,075,559)











Net cash used in financing activities

-


(382,510)


(4,884)


(3,075,559)











Net increase (decrease) in cash

3,336,291


328,741


369,491


(2,134,839)











Cash, beginning of period

4,342,588


4,310,547


7,309,388


6,774,127











Cash, end of period

$ 7,678,879


$ 4,639,288


$ 7,678,879


$ 4,639,288




Contact: Don Boone, President & CEO, (503) 647-0110
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Drmicrocap Drmicrocap 11 years ago
The answer is "YES"! It is "Strong Buy" based on the continuing improvement of the company's underlying fundamentals.

The "Good Dr's In!

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Pierre 74 Pierre 74 11 years ago
Do you think now is a good time to buy??
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Drmicrocap Drmicrocap 11 years ago
Jewett-Cameron Trading Company Ltd. Authorizes Share Repurchase Plan
NORTH PLAINS, Ore., May 29, 2013 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. ("Jewett-Cameron") (JCTCF) today is pleased to announce that its Board of Directors has authorized the implementation of a share repurchase plan to purchase for cancellation up to 400,000 common shares through facilities of the NASDAQ Stock Market ("NASDAQ"). This amount represents approximately 13% of the approximately 3.1 million common shares outstanding. Since the 4th quarter of Fiscal 2010, the Company repurchased 1,646,826 common shares (adjusted for a 2 for 1 stock split effective May 1, 2013) under prior formal plans of repurchase.

Transactions may involve Jewett-Cameron insiders or their affiliates executed in compliance with Jewett-Cameron's Insider Trading Policy.

The share repurchase plan will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contains restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes ("ADTV") of Jewett-Cameron's shares on NASDAQ. Purchases shall be limited to daily purchases in an amount up to 25% of the ADTV in its shares, or one "Block" purchase per week in lieu of the 25% of ADTV limitation for compliance with Rule 10b-18(b)(4). A "block" as defined under Rule 10b-18(a)(5) means a quantity of stock that, among other things, is at least 5,000 shares and has a purchase price of at least US$50,000.

This share repurchase plan may commence on June 3, 2013 and will remain in place until August 16, 2013 but may be limited or terminated at any time without prior notice.

The share repurchase program was approved by the Company's Board of Directors as part of its ongoing consideration of alternative ways to leverage the Company's strong cash position. The Board of Directors believes that a share repurchase program at this time is in the best interests of the Company and its shareholders, and will not impact the Company's ability to execute its growth plans.

About Jewett-Cameron Trading Company Ltd.

Jewett-Cameron Trading Company Ltd. was incorporated in British Columbia on July 8, 1987 as a holding company for Jewett-Cameron Lumber Corporation ("JCLC"), incorporated September 1953. Jewett-Cameron Trading Company, Ltd. acquired all the shares of JCLC through a stock-for-stock exchange on July 13, 1987, and at that time JCLC became a wholly owned subsidiary. JCLC has the following wholly owned subsidiaries. MSI-PRO Co. ("MSI"), incorporated April 1996, Jewett-Cameron Seed Company, ("JCSC"), incorporated October 2000, and Greenwood Products, Inc. ("Greenwood"), incorporated February 2002. Jewett-Cameron Trading Company, Ltd. and its subsidiaries (the "Company") have no significant assets in Canada.

The Company, through its subsidiaries operates out of facilities located in North Plains, Oregon and the vicinity of Portland, Oregon. JCLC's business consists of the manufacturing and distribution of specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. MSI is an importer and distributor of pneumatic air tools and industrial clamps in the United States. JCSC is a processor and distributor of agricultural seeds in the United States.

Safe Harbor Statement

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, certain statements and expectations regarding the asset acquisition, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Jewett-Cameron's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. We disclaim any intention or obligation to update any forward-looking statements.

For further information, contact:

Donald Boone
President/CEO, Jewett-Cameron Trading Company Ltd.
(503) 647-0110
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Drmicrocap Drmicrocap 11 years ago
http://finance.yahoo.com/news/jewett-cameron-trading-company-ltd-201500284.html
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Drmicrocap Drmicrocap 12 years ago
http://seekingalpha.com/article/888371-jewett-cameron-a-buy-due-to-strong-growth-strong-balance-sheet-and-share-repurchases?source=yahoo
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Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/jewett-cameron-announces-3rd-quarter-201500824.html
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