Revenue during the quarter dropped 12.73 percent to $10.42 million from $11.94 million in the previous year period. Gross margin for the quarter expanded 305 basis points over the previous year period to 22.98 percent. Total expenses were 92.40 percent of quarterly revenues, down from 92.59 percent for the same period last year. This has led to an improvement of 19 basis points in operating margin to 7.60 percent.

Operating income for the quarter was $0.79 million, compared with $0.89 million in the previous year period.

"Our new warehouse expansion is now complete, and we will begin to utilize the additional space for both existing and new products this year," said chief executive officer Don Boone. "In November, we added Charlie Hopewell as our new Chief Operating Officer. Charlie's extensive experience will help us grow our product lines and sales channels going forward."

The company has spent $0.23 million cash to meet investing activities during the quarter as against cash outgo of $0.01 million in the last year period.

Cash and cash equivalents stood at $4.90 million as on Nov. 30, 2016, up 12.35 percent or $0.54 million from $4.36 million on Nov. 30, 2015.

Working capital declines
Jewett Cameron Trading Company Ltd has witnessed a decline in the working capital over the last year. It stood at $14.78 million as at Nov. 30, 2016, down 5.96 percent or $0.94 million from $15.71 million on Nov. 30, 2015. Current ratio was at 8.17 as on Nov. 30, 2016, down from 8.20 on Nov. 30, 2015.

Cash conversion cycle (CCC) has decreased to 65 days for the quarter from 100 days for the last year period. Days sales outstanding were almost stable at 31 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 44 days for the quarter compared with 79 days for the previous year period. At the same time, days payable outstanding was almost stable at 9 days for the quarter, when compared with the previous year period.