$JCTC
JEWETT CAMERON TRADING CO LTD

2022 Q3 Form 10-Q Financial Statement

#000155335022000607 Filed on July 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q3
Revenue $15.00M $20.92M $15.10M
YoY Change -0.69% -3.23% 7.66%
Cost Of Revenue $12.45M $15.57M $12.12M
YoY Change 2.76% -2.92% 22.13%
Gross Profit $2.551M $5.353M $2.990M
YoY Change -14.67% -4.11% -27.25%
Gross Profit Margin 17.01% 25.58% 19.79%
Selling, General & Admin $2.748M $1.126M $2.380M
YoY Change 15.48% 16.5% 23.3%
% of Gross Profit 107.72% 21.03% 79.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $82.62K $83.29K $69.11K
YoY Change 19.55% 27.8% 15.18%
% of Gross Profit 3.24% 1.56% 2.31%
Operating Expenses $2.831M $3.333M $2.449M
YoY Change 15.6% 13.21% 23.06%
Operating Profit -$279.6K $2.020M $541.1K
YoY Change -151.69% -23.44% -74.48%
Interest Expense -$64.18K $47.97K -$2.590K
YoY Change 2377.99% 416.77%
% of Operating Profit 2.38% -0.48%
Other Income/Expense, Net $64.06K -$47.07K
YoY Change -106.91%
Pretax Income -$275.2K $1.973M $538.5K
YoY Change -151.12% -40.57% -74.72%
Income Tax -$66.57K $478.5K -$66.64K
% Of Pretax Income 24.26% -12.38%
Net Earnings -$208.7K $1.494M $605.1K
YoY Change -134.48% -38.12% -61.46%
Net Earnings / Revenue -1.39% 7.14% 4.01%
Basic Earnings Per Share $0.43
Diluted Earnings Per Share -$59.65K $0.43 $173.4K
COMMON SHARES
Basic Shares Outstanding 3.493M shares 3.493M shares
Diluted Shares Outstanding 3.493M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $484.5K $2.130M $1.184M
YoY Change -59.09% -1.82% -68.83%
Cash & Equivalents $484.5K $2.130M $1.184M
Short-Term Investments
Other Short-Term Assets $1.322M $2.261M $2.559M
YoY Change -48.35% -12.38% 146.04%
Inventory $20.63M $19.90M $14.39M
Prepaid Expenses $1.113M $2.258M $2.306M
Receivables $7.192M $8.272M $7.087M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.63M $32.56M $25.22M
YoY Change 17.48% 38.15% 24.18%
LONG-TERM ASSETS
Property, Plant & Equipment $4.828M $4.662M $3.887M
YoY Change 24.23% 22.7% 30.97%
Goodwill
YoY Change
Intangibles $33.36K $30.09K $30.90K
YoY Change 7.97% 133.09% 4588.47%
Long-Term Investments
YoY Change
Other Assets $25.00K
YoY Change
Total Long-Term Assets $4.887M $4.692M $3.917M
YoY Change 24.74% 23.07% 31.9%
TOTAL ASSETS
Total Short-Term Assets $29.63M $32.56M $25.22M
Total Long-Term Assets $4.887M $4.692M $3.917M
Total Assets $34.52M $37.25M $29.14M
YoY Change 18.46% 36.05% 25.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.566M $1.795M $1.350M
YoY Change 16.03% 15.21% 22.7%
Accrued Expenses $1.856M $2.045M $1.798M
YoY Change 3.22% -10.7% -10.99%
Deferred Revenue
YoY Change
Short-Term Debt $7.000M $9.000M $3.000M
YoY Change 133.33% 803.61%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $10.42M $12.84M $6.148M
YoY Change 69.53% 153.05% 76.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.42M $12.84M $6.148M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $10.42M $12.97M $6.265M
YoY Change 66.36% 153.62% 59.41%
SHAREHOLDERS EQUITY
Retained Earnings $22.53M $22.74M $21.36M
YoY Change 5.45%
Common Stock $824.6K $824.0K $823.2K
YoY Change 0.18% 0.11% 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.09M $24.29M $22.87M
YoY Change
Total Liabilities & Shareholders Equity $34.52M $37.25M $29.14M
YoY Change 18.46% 36.05% 25.16%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q3
OPERATING ACTIVITIES
Net Income -$208.7K $1.494M $605.1K
YoY Change -134.48% -38.12% -61.46%
Depreciation, Depletion And Amortization $82.62K $83.29K $69.11K
YoY Change 19.55% 27.8% 15.18%
Cash From Operating Activities $602.1K $1.834M -$2.815M
YoY Change -121.38% -250.64% -465.65%
INVESTING ACTIVITIES
Capital Expenditures -$244.5K -$103.0K -$143.5K
YoY Change 70.43% -79.38% -40.22%
Acquisitions
YoY Change
Other Investing Activities -$3.540K -$30.76K
YoY Change -88.49%
Cash From Investing Activities -$248.1K -$103.0K -$174.2K
YoY Change 42.38% -79.38% -30.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000M -500.0K 2.004M
YoY Change -199.8% -150.2%
NET CHANGE
Cash From Operating Activities 602.1K 1.834M -2.815M
Cash From Investing Activities -248.1K -103.0K -174.2K
Cash From Financing Activities -2.000M -500.0K 2.004M
Net Change In Cash -1.646M 1.231M -985.7K
YoY Change 66.98% -270.79% -289.56%
FREE CASH FLOW
Cash From Operating Activities $602.1K $1.834M -$2.815M
Capital Expenditures -$244.5K -$103.0K -$143.5K
Free Cash Flow $846.6K $1.937M -$2.672M
YoY Change -131.68% -369.64% -364.56%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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IncreaseDecreaseInInventories
-1430506 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-48244 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1544728 usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-249082 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
692233 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
736595 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
189594 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4042504 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1607742 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1011359 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1019259 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
996010 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
946137 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1630991 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1184313 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3801037 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2130450 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2170046 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
687387 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
680707 usd
us-gaap Nature Of Operations
NatureOfOperations
The Company, through its subsidiaries, operates out of facilities located in North Plains, Oregon. JCC’s business consists of the manufacturing and distribution of pet, fencing and other products, wholesale distribution to home centers, other retailers, on-line as well as direct to end consumers located primarily in the United States. Greenwood is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. JCSC is a processor and distributor of agricultural seeds in the United States. MSI was an importer and distributor of pneumatic air tools and industrial clamps in the United States. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zTG2Ym4cTu0e" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3pc; text-align: justify"><b><span id="xdx_863_zII2JWMeJmNf">Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc; text-align: justify">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States of America 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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2130450 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1184313 usd
us-gaap Interest Paid
InterestPaid
6680 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3485525 shares
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1494111 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2414477 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1372789 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2849839 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3492842 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3489161 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3492266 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3485525 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3492842 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3489161 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3492266 shares
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2130450 usd
CY2022Q2 jctcf Wood Products And Metal Products
WoodProductsAndMetalProducts
19512100 usd
CY2021Q3 jctcf Wood Products And Metal Products
WoodProductsAndMetalProducts
14257609 usd
CY2022Q2 jctcf Agricultural Seed Products
AgriculturalSeedProducts
386703 usd
CY2021Q3 jctcf Agricultural Seed Products
AgriculturalSeedProducts
133756 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
19898803 usd
CY2021Q3 us-gaap Inventory Net
InventoryNet
14391365 usd
CY2022Q2 jctcf Office Equipment
OfficeEquipment
635818 usd
CY2021Q3 jctcf Office Equipment
OfficeEquipment
551569 usd
CY2022Q2 jctcf Warehouse Equipment
WarehouseEquipment
1490384 usd
CY2021Q3 jctcf Warehouse Equipment
WarehouseEquipment
1385330 usd
CY2022Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5934185 usd
CY2021Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5112129 usd
CY2022Q2 us-gaap Land
Land
559065 usd
CY2021Q3 us-gaap Land
Land
559065 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8619452 usd
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7608093 usd
CY2022Q2 jctcf Accumulated Depreciation Property Plant And Equipment
AccumulatedDepreciationPropertyPlantAndEquipment
-3957746 usd
CY2021Q3 jctcf Accumulated Depreciation Property Plant And Equipment
AccumulatedDepreciationPropertyPlantAndEquipment
-3721550 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4661706 usd
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3886543 usd
CY2022Q2 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
47160 usd
CY2021Q3 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
47160 usd
CY2022Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
17068 usd
CY2021Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
16263 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30092 usd
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30897 usd
CY2022Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
128497 usd
CY2021Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
116945 usd
CY2022Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
10000000 usd
CY2022Q2 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
9000000 usd
CY2021Q3 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
3000000 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0236 pure
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
59%
CY2022Q2 jctcf Available To Be Issued
AvailableToBeIssued
34928 shares
jctcf Concentration Volume Of Purchases
ConcentrationVolumeOfPurchases
21313695 usd
us-gaap Pension Contributions
PensionContributions
426436 usd
us-gaap Pension Contributions
PensionContributions
393218 usd
us-gaap Revenues
Revenues
47900665 usd
us-gaap Revenues
Revenues
42396591 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1856238 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3885735 usd
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
37254359 usd
CY2021Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
27381915 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
237001 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
175171 usd
us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
1011359 usd
us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
942188 usd
us-gaap Interest Paid Net
InterestPaidNet
98868 usd
jctcf Concentration Volume Of Purchases
ConcentrationVolumeOfPurchases
14782935 usd
jctcf Sales To Customers In Excess Of10 Of Total Sales
SalesToCustomersInExcessOf10OfTotalSales
25309216 usd
jctcf Sales To Customers In Excess Of10 Of Total Sales
SalesToCustomersInExcessOf10OfTotalSales
22279565 usd
jctcf United States Sales
UnitedStatesSales
45945594 usd
jctcf United States Sales
UnitedStatesSales
40698374 usd
jctcf Canada Sales
CanadaSales
879929 usd
jctcf Canada Sales
CanadaSales
1197681 usd
jctcf Mexico Latin America Sales
MexicoLatinAmericaSales
766147 usd
jctcf Mexico Latin America Sales
MexicoLatinAmericaSales
181168 usd
jctcf Europe Sales
EuropeSales
76247 usd
jctcf Europe Sales
EuropeSales
171254 usd
jctcf Asia Pacific Sales
AsiaPacificSales
232748 usd
jctcf Asia Pacific Sales
AsiaPacificSales
148114 usd
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
54%
us-gaap Interest Paid Net
InterestPaidNet
98868 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
227685 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
338746 usd
jctcf Accrual For Legal Claim
AccrualForLegalClaim
300000 usd

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