Goodfellow Wood Products Sales Rose 20 Percent 3rd Quarter
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DELSON, QUEBEC  - Wood products firm Goodfellow Inc. (TSX:GDL) reported a net income of $6.6 million, up about 20 percent from a year ago.

For the three months ended August 31, 2015, Goodfellow reported net income of $3.7 million, the same as a year ago. Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.

Sales in Canada during the first nine months of fiscal 2015 increased 6 percent mainly due to increased market share in Western Canada and Atlantic provinces and increased pressure treated wood sales with retailer's customers group.

Sales in the United States for the first nine months ended August 31, 2015 increased 18 percent on a Canadian dollar basis compared to the same period last year, due to the increased foreign exchange conversion factor and increased demand for flooring and hardwood lumber product lines. On a non-converted basis, U.S. denominated sales increased 3 percent compared to last year. 

Export sales increased 10 percent during the first nine months of fiscal 2015 due to increasing demand for value added products in Asia and Europe, Goodfellow reported. 

"A very soft construction market combined with low commodity prices caused us to fall short of our objectives," said Denis Fraser, CEO. "Sales slowed down significantly in August and this same situation continues in September."  
 

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Bill Esler | ConfSenior Editor

Bill wrote for WoodworkingNetwork.com, FDMC and Closets & Organized Storage magazines. 

Bill's background includes more than 10 years in print manufacturing management, followed by more than 30 years in business reporting on industrial manufacturing in the forest products industries, including printing and packaging at American Printer (Features Editor) and Graphic Arts Monthly (Editor in Chief) magazines; and in secondary wood manufacturing for WoodworkingNetwork.com.

Bill was deeply involved with the launches of the Woodworking Network Leadership Forum, and the 40 Under 40 Awards programs. He currently reports on technology and business trends and develops conference programs.

In addition to his work as a journalist, Bill supports efforts to expand and improve educational opportunities in the manufacturing sectors, including 10 years on the Print & Graphics Scholarship Foundation; six years with the U.S. WoodLinks; and currently on the Woodwork Career Alliance Education Committee. He is also supports the Greater West Town Training Partnership Woodworking Program, which has trained more than 950 adults for industrial wood manufacturing careers. 

Bill volunteers for Foinse Research Station, a biological field station staddling the border of Ireland and Northern Ireland, one of more than 200 members of the Organization of Biological Field Stations.