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Last C$12.79 CAD
Change Today +0.13 / 1.03%
Volume 16.7K
HWD On Other Exchanges
As of 3:59 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

hardwoods distribution inc (HWD) Snapshot

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52 Week High
02/20/15 - C$14.01
52 Week Low
10/16/14 - C$9.03
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hardwoods distribution inc (HWD) Details

Hardwoods Distribution Inc. engages in the wholesale distribution of hardwood lumber, and plywood and related products in North America. It offers sheet goods consisting primarily of hardwood plywood; and other non-structural sheet goods, such as medium-density fiberboards, particleboards, melamine coated stock, concrete forming panels, and echo wood plywood and veneers, as well as hardwood lumber. The company also provides bamboo products; other specialty products, such as pre-finished plywood, dragon wrap moldings, dragon wrap inserts, drawer sides, and high pressure laminates; dragon ply products; and Red Grandis products. Its products are used to manufacture cabinets, furniture, millwork, moldings, signs, stamps, boats, motor coach interiors, toys, and specialty wood products. In addition, the company creates custom molding and millwork packages for customers; and produces and exports lumber. The company serves various markets, such as home construction, renovation, non-residential construction, and institutional markets. As of March 26, 2015, it operated 33 distribution facilities in the United States and Canada. Hardwoods Distribution Inc. is headquartered in Langley, Canada.

450 Employees
Last Reported Date: 03/26/15

hardwoods distribution inc (HWD) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$323.0K
Chief Operating Officer and Vice President
Total Annual Compensation: C$236.0K
Vice President of Canada and Vice President o...
Total Annual Compensation: C$213.0K
Vice President of California
Total Annual Compensation: C$198.8K
Vice President of Paxton Group
Total Annual Compensation: C$160.2K
Compensation as of Fiscal Year 2014.

hardwoods distribution inc (HWD) Key Developments

Hardwoods Distribution Inc. Approves Quarterly Dividend, Payable on April 30, 2015; Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

The Board of Directors of Hardwoods Distribution Inc. approved a quarterly dividend of CAD 0.045 per share, payable on April 30, 2015 to shareholders of record as at April 20, 2015. The company reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total sales increased by 25.5% to CAD 114.3 million, from CAD 91.1 million in the fourth quarter of 2013. Profit from operating activities was CAD 4.635 million against CAD 3.820 million a year ago. Earnings before interest, taxes, depreciation and amortization were CAD 5.238 million against CAD 4.216 million a year ago. Profit for the period was CAD 2.808 million or CAD 0.17 per basic and diluted share against CAD 2.375 million or CAD 0.14 per basic and diluted share a year ago. Hardwoods' US operations increased sales by USD 14.1 million, or 21.8%, to USD 78.9 million. The EBITDA gain reflects the increase in gross profit, partially offset by higher operating expenses, before depreciation and amortization. The year-over-year increase reflects the higher EBITDA, partially offset by a CAD 0.4 million increase in income tax expense and a CAD 0.2 million increase in depreciation and amortization. For the year, the company reported total sales increased by 22.8% to CAD 455.7 million, from CAD 371.2 million in 2013. Hardwoods' US operations increased sales by USD 49.8 million, or 18.6%, reflecting USD 28.0 million of organic growth and USD 21.8 million in incremental revenue from the acquired HMI business. Full-year 2014 sales in Canada increased by CAD 9.4 million, or 9.9%, year-over-year, reflecting higher product prices, partially offset by weaker volume demand in the Canadian market. EBITDA for 2014 increased to CAD 25.5 million, from CAD 21.4 million in 2013. The 19.2% increase primarily reflects higher gross profit, partially offset by increased operating expenses, before depreciation and amortization. Profit for the year increased to CAD 14.0 million, from CAD 13.1 million in 2013, reflecting the CAD 4.1 million improvement in EBITDA, partially offset by a CAD 2.3 million increase in income tax expense, CAD 0.7 million increase in depreciation and CAD 0.2 million increase in net finance cost. Fully diluted profit per share was CAD 0.84 against CAD 0.79 a year ago.

Hardwoods Distribution Mulls Acquisitions

Hardwoods Distribution Inc. (TSX:HWD) is seeking acquisitions. Lance Blanco, Chief Executive Officer of Hardwoods Distribution, said in 2014 annual and fourth quarter financial results, “Hardwoods will also continue to pursue well-priced acquisition opportunities that support its objectives. Hardwoods' Board of Directors will continue to review financial performance and assess distribution levels on a regular basis, however the primary focus in 2015 will be on retaining the financial flexibility to finance the significant market growth opportunity in the US and to keep the Company's balance sheet strong to support strategic acquisitions.”

Hardwoods Distribution Announces Executive Changes

Hardwoods Distribution Inc. announced that Lance Blanco was resuming his duties as the President and Chief Executive Officer of the company. As announced previously, in July of 2014 Mr. Blanco was involved in a serious bicycling accident and the injuries he sustained required an extended period of convalescence. During Mr. Blanco's absence from the company the board of directors appointed Rob Brown, the company's Chief Financial Officer, as acting Chief Executive Officer. Other senior executives of the company also assumed expanded roles as required. Concurrent with Mr. Blanco resuming his duties, the company announced the appointment of Mr. Brown to the position of Chief Operating Officer of the company. Mr. Brown has been Vice President and Chief Financial Officer of the company since 2004. Replacing Mr. Brown as Chief Financial Officer is Mr. Faiz Karmally, currently the company's Corporate Controller. Mr. Karmally joined the company in 2014, and was previously a Senior Manager with PWC.


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