Jewett-Cameron Trading pany .(JCTCF) - 2025 Q1 - Quarterly Results

Revenue and Sales Performance - Q1 2025 revenue was $9.3 million, a decrease from$9.8 million in Q1 2024, with metal fencing product sales increasing by 19% and wood fencing product sales increasing by 4%[6] - Sales decreased by 5.5% to $9,267,001 in Q3 2024 compared to$9,805,841 in Q3 2023[18] Gross Profit and Margins - Gross profit margins for Q1 2025 were 18.3%, down from 19.9% in Q1 2024, primarily due to higher shipping and logistic costs[7] - Gross profit declined by 13.4% to $1,693,902 in Q3 2024 from$1,956,081 in Q3 2023[18] Operating Expenses - Operating expenses for Q1 2025 were $2.6 million, a decrease from$2.7 million in Q1 2024, due to reduced professional fees and operational efficiencies[8] - Operating expenses decreased by 7% to $2,552,047 in Q3 2024 from$2,745,305 in Q3 2023[18] Net Income and Loss - Net loss for Q1 2025 was $(0.7) million or$(0.19) per share, compared to net income of $1.3 million or$0.37 per share in Q1 2024, primarily due to a one-time settlement in the prior year[10] - Net loss of $658,717 in Q3 2024 compared to net income of$1,291,541 in Q3 2023[18] - Basic loss per share was $0.19 in Q3 2024 compared to earnings per share of$0.37 in Q3 2023[18] Inventory and Asset Management - Inventory balances decreased by 23% to $13.5 million at November 30, 2024, from$17.5 million at November 30, 2023[11] - Inventory increased by $334,304 in Q3 2024 versus a decrease of$825,631 in Q3 2023[19] - The company listed an 11.6-acre property in Hillsboro, Oregon, for sale at $9 million, with a book value of$566,022[5] Product Launches and Market Expansion - The company doubled the number of in-store Lifetime Steel Post (LTP) displayers to nearly 200 by the end of November 2024, driving year-over-year growth in the fence portion of the Pet, Fencing, and Other segment[5] - The company launched the new Adjust-A-Gate® Unlimited, a low-profile complete gate kit, designed for flexibility and customization[5] - MyEcoWorld® compostable bin liners and pet waste bags are scheduled for in-store placement at multiple grocery chains in 2025, with initial success in North America[5] Financial Position and Cash Flow - The company has no long-term debt and total stockholders' equity at November 30, 2024, was $24.2 million, or$6.90 per share[11] - Operating cash flow was negative $1,777,476 in Q3 2024 versus positive$4,632,031 in Q3 2023[19] - Cash position decreased by $1,813,976 to$3,039,391 at end of Q3 2024 from $4,853,367 at start of period[19] Accounts Receivable and Interest - Accounts receivable increased by$514,895 in Q3 2024 compared to a decrease of $2,269,494 in Q3 2023[19] - Interest income was$21,998 in Q3 2024 versus interest expense of $6,855 in Q3 2023[18]