$JCTC
JEWETT CAMERON TRADING CO LTD

2023 Q3 Form 10-Q Financial Statement

#000107997323000950 Filed on July 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $14.62M $18.95M
YoY Change -2.54% -9.45%
Cost Of Revenue $11.57M $14.53M
YoY Change -7.07% -6.66%
Gross Profit $3.050M $4.413M
YoY Change 19.55% -17.55%
Gross Profit Margin 20.86% 23.29%
Selling, General & Admin $2.560M $3.062M
YoY Change -6.85% 172.05%
% of Gross Profit 83.93% 69.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $99.96K
YoY Change 21.04% 20.01%
% of Gross Profit 3.28% 2.26%
Operating Expenses $2.660M $3.162M
YoY Change -6.03% -5.12%
Operating Profit $390.0K $1.251M
YoY Change -239.46% -38.06%
Interest Expense -$100.0K -$152.9K
YoY Change 55.81% -418.75%
% of Operating Profit -25.64% -12.22%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0% -100.0%
Pretax Income $360.0K $1.098M
YoY Change -230.79% -44.33%
Income Tax $70.00K $363.2K
% Of Pretax Income 19.44% 33.07%
Net Earnings $290.0K $735.0K
YoY Change -238.98% -50.81%
Net Earnings / Revenue 1.98% 3.88%
Basic Earnings Per Share $0.21
Diluted Earnings Per Share $0.08 $0.21
COMMON SHARES
Basic Shares Outstanding 3.499M shares 3.499M shares
Diluted Shares Outstanding 3.499M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00K $2.716M
YoY Change -83.49% 27.49%
Cash & Equivalents $83.70K $2.716M
Short-Term Investments
Other Short-Term Assets $630.0K $870.2K
YoY Change -52.33% -61.52%
Inventory $18.34M $20.53M
Prepaid Expenses $630.8K $870.1K
Receivables $5.635M $7.530M
Other Receivables $0.00 $0.00
Total Short-Term Assets $24.69M $31.65M
YoY Change -16.68% -2.82%
LONG-TERM ASSETS
Property, Plant & Equipment $4.655M $4.746M
YoY Change -3.58% 1.81%
Goodwill
YoY Change
Intangibles $134.8K $134.4K
YoY Change 304.24% 346.63%
Long-Term Investments
YoY Change
Other Assets $320.0K $391.6K
YoY Change 1180.0%
Total Long-Term Assets $5.110M $5.272M
YoY Change 4.57% 12.37%
TOTAL ASSETS
Total Short-Term Assets $24.69M $31.65M
Total Long-Term Assets $5.110M $5.272M
Total Assets $29.80M $36.92M
YoY Change -13.67% -0.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.181M $2.631M
YoY Change 39.28% 46.6%
Accrued Expenses $2.113M $2.332M
YoY Change 13.86% 14.03%
Deferred Revenue
YoY Change
Short-Term Debt $1.260M $8.000M
YoY Change -82.0% -11.11%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.700M $13.11M
YoY Change -45.31% 2.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.700M $13.11M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $5.701M $13.11M
YoY Change -45.3% 1.09%
SHAREHOLDERS EQUITY
Retained Earnings $22.51M $22.22M
YoY Change -0.09% -2.28%
Common Stock $825.5K $825.5K
YoY Change 0.1% 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.10M $23.81M
YoY Change
Total Liabilities & Shareholders Equity $29.80M $36.92M
YoY Change -13.67% -0.9%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $290.0K $735.0K
YoY Change -238.98% -50.81%
Depreciation, Depletion And Amortization $100.0K $99.96K
YoY Change 21.04% 20.01%
Cash From Operating Activities $4.050M $2.964M
YoY Change 572.67% 61.59%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$85.99K
YoY Change -100.0% -16.48%
Acquisitions
YoY Change
Other Investing Activities $70.00K -$102.5K
YoY Change -2077.4%
Cash From Investing Activities $60.00K -$16.51K
YoY Change -124.19% -83.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.740M -500.0K
YoY Change 237.0% 0.0%
NET CHANGE
Cash From Operating Activities 4.050M 2.964M
Cash From Investing Activities 60.00K -16.51K
Cash From Financing Activities -6.740M -500.0K
Net Change In Cash -2.630M 2.448M
YoY Change 59.78% 98.77%
FREE CASH FLOW
Cash From Operating Activities $4.050M $2.964M
Capital Expenditures $0.00 -$85.99K
Free Cash Flow $4.050M $3.050M
YoY Change 378.38% 57.44%

Facts In Submission

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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2130450 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_z7VWf5qyGyHi" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><b><span id="xdx_86B_zk61iNHFuP9e">Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates incorporated into the Company’s consolidated financial statements include the estimated useful lives for depreciable and amortizable assets, the estimated allowances for doubtful accounts receivable and inventory obsolescence, possible product liability and possible product returns, and litigation contingencies and claims. Actual results could differ from those estimates.</p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2716051 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
484463 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1494111 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-310847 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1372789 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3498899 shares
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
734951 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3492842 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3498000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3492266 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3498899 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3492842 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3498000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3492266 shares
CY2023Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
2716051 usd
CY2023Q2 jctcf Wood Products And Metal Products
WoodProductsAndMetalProducts
19993945 usd
CY2022Q3 jctcf Wood Products And Metal Products
WoodProductsAndMetalProducts
20130063 usd
CY2023Q2 jctcf Agricultural Seed Products
AgriculturalSeedProducts
535285 usd
CY2022Q3 jctcf Agricultural Seed Products
AgriculturalSeedProducts
502250 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
20529230 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
20632313 usd
CY2023Q2 jctcf Office Equipment
OfficeEquipment
665483 usd
CY2022Q3 jctcf Office Equipment
OfficeEquipment
636501 usd
CY2023Q2 jctcf Warehouse Equipment
WarehouseEquipment
1576205 usd
CY2022Q3 jctcf Warehouse Equipment
WarehouseEquipment
1504867 usd
CY2023Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6209162 usd
CY2022Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6168080 usd
CY2023Q2 us-gaap Land
Land
559065 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1856238 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
36917514 usd
CY2022Q3 us-gaap Land
Land
559065 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9009915 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8868513 usd
CY2023Q2 jctcf Accumulated Depreciation Property Plant And Equipment
AccumulatedDepreciationPropertyPlantAndEquipment
4263928 usd
CY2022Q3 jctcf Accumulated Depreciation Property Plant And Equipment
AccumulatedDepreciationPropertyPlantAndEquipment
4040093 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4745987 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4828420 usd
CY2023Q2 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
152540 usd
CY2022Q3 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
50695 usd
CY2023Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
18141 usd
CY2022Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
17337 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
134399 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
33358 usd
CY2023Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
391564 usd
CY2022Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
24998 usd
CY2023Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
12000000 usd
us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
8000000 usd
CY2022 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
7000000 usd
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
10000000 usd
CY2022Q3 us-gaap Line Of Credit
LineOfCredit
12000000 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0665 pure
us-gaap Pension Contributions
PensionContributions
404541 usd
us-gaap Pension Contributions
PensionContributions
426436 usd
us-gaap Revenues
Revenues
39666658 usd
us-gaap Revenues
Revenues
47900665 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-319851 usd
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
37254359 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
299577 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
237001 usd
us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
318185 usd
us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
1011359 usd
jctcf Sales
Sales
24245936 usd
jctcf Sales
Sales
25309216 usd
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
66%
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
54%
jctcf Concentration Volume Of Purchases
ConcentrationVolumeOfPurchases
17831976 usd
jctcf Concentration Volume Of Purchases
ConcentrationVolumeOfPurchases
21313695 usd
us-gaap Interest Paid Net
InterestPaidNet
325933 usd
us-gaap Interest Paid Net
InterestPaidNet
98868 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
227685 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
300000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1000000 usd
CY2023Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
7000000 usd

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