Revenue and Sales Performance - Revenue for Q1 2025 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 for the three months ended November 30, 2024, were $9,267,001, a decrease of 5.5% compared to $9,805,841 for the same period in 2023[18] Profitability and Loss - Gross profit margins for Q1 2025 were 18.3%, down from 19.9% in Q1 2024, primarily due to higher shipping and logistics costs[7] - Gross profit for the three months ended November 30, 2024, was $1,693,902, down 13.4% from $1,956,081 in the prior year[18] - 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[10] - Net loss for the three months ended November 30, 2024, was $(658,717), compared to net income of $1,291,541 for the same period in 2023[18] - Basic loss per common share for the three months ended November 30, 2024, was $(0.19), compared to earnings of $0.37 per share in the prior year[18] - The company reported a loss from operations of $(858,145) for the three months ended November 30, 2024, compared to a loss of $(789,224) in the prior year[18] Operating Expenses - Operating expenses decreased to $2.6 million in Q1 2025 from $2.7 million in Q1 2024, attributed to reduced professional fees and operational efficiencies[8] - Operating expenses for the three months ended November 30, 2024, totaled $2,552,047, a decrease of 7.0% from $2,745,305 in the same period in 2023[18] Cash Flow and Financial Position - Net cash used by operating activities for the three months ended November 30, 2024, was $(1,777,476), a significant decrease from net cash provided of $4,632,031 in the same period in 2023[19] - Cash at the end of the period on November 30, 2024, was $3,039,391, down from $3,558,168 at the end of the same period in 2023[19] Inventory and Assets - Inventory balances decreased by 23% to $13.5 million at November 30, 2024, from $17.5 million at November 30, 2023[11] - The company listed its 11.6-acre property in Hillsboro, Oregon for sale at a price of $9 million, with a book value of approximately $566,022[5] Strategic Initiatives and Product Development - The company launched the new Adjust-A-Gate® Unlimited product, enhancing its product offerings in the fencing segment[5] - The company is advancing strategic relationships with new sourcing partners to mitigate supply chain risks and reduce dependence on single sources[5] - The company aims to drive growth and profitability through strategic initiatives focused on product innovation and operational efficiency[4] Investor Relations - The company has enhanced its investor communications program, including updating its Nasdaq ticker symbol from "JCTCF" to "JCTC"[5] Other Financial Items - Total other items, including interest income and gains, contributed $22,798 for the three months ended November 30, 2024, compared to $2,532,800 in the prior year[18]
Jewett-Cameron Trading Co Ltd(JCTC) - 2025 Q1 - Quarterly Results