Jewett-Cameron Announces 1st Quarter Sales of $6.08M

Jewett-Cameron Trading Company Ltd. JCTCF today reported financial results for the first quarter of fiscal 2011 ended November 30, 2010. Sales for the first quarter of fiscal 2011 totaled $6.08 million compared to sales of $7.37 million for the first quarter of fiscal 2010. For the quarter, income from operations was $78,694 compared to $133,900 in the year-ago quarter. Due to a litigation reserve of ($1,579,125), the Company reported a net loss of ($846,335), or ($0.37) per share, compared to net income of $72,630, or $0.03 per diluted share in last year's first quarter.