HispanicBusiness

GOODFELLOW INC.Consolidated Statements of Financial PositionAs at November 30, 2012 and 2011(in thousands of dollars)--------------------------------------------------------------------------------------------------------------------------------------------------------                                                              2012      2011----------------------------------------------------------------------------                                                                 $         $AssetsCurrent Assets  Cash and cash equivalents                                    398       328  Trade and other receivables                               56,196    55,689  Income taxes recoverable                                       -     4,217  Inventories                                               79,513    72,339  Prepaid expenses                                           2,010     3,314----------------------------------------------------------------------------Total Current Assets                                       138,117   135,887Non-Current Assets  Property, plant and equipment                             36,376    36,737----------------------------------------------------------------------------                                                           174,493   172,624--------------------------------------------------------------------------------------------------------------------------------------------------------LiabilitiesCurrent liabilities  Bank indebtedness                                         28,886    28,491  Trade and other payables                                  26,140    24,896  Income taxes payable                                           9         -----------------------------------------------------------------------------Total Current Liabilities                                   55,035    53,387Non-Current Liabilities  Provisions                                                 1,449     1,506  Deferred income taxes                                      2,514     2,195  Defined benefit plan obligation                                9     1,600----------------------------------------------------------------------------Total Non-Current Liabilities                                3,972     5,301----------------------------------------------------------------------------                                                            59,007    58,688----------------------------------------------------------------------------Shareholders' equity  Share capital                                              9,152     9,222  Retained earnings                                        106,334   104,714----------------------------------------------------------------------------                                                           115,486   113,936----------------------------------------------------------------------------                                                           174,493   172,624--------------------------------------------------------------------------------------------------------------------------------------------------------GOODFELLOW INC.Consolidated Statements of Cash FlowsFor the First Quarter ended November 30, 2012 and 2011(in thousands of dollars)--------------------------------------------------------------------------------------------------------------------------------------------------------                                                              2012      2011----------------------------------------------------------------------------                                                                $         $Cash Flows Used in Operating Activities  Net Earnings                                                739       889  Adjustments for :    Depreciation                                              661       703    Accretion expense on environmental provision                7         8    Income tax expense                                        302       399    Interest expense                                          215       159    Funding in excess of pension plan expense                (503)     (448)----------------------------------------------------------------------------                                                            1,421     1,710----------------------------------------------------------------------------  Changes in non-cash working capital items                 9,631       743  Interest paid                                              (193)     (129)  Income taxes paid                                          (314)     (908)----------------------------------------------------------------------------                                                            9,124      (294)----------------------------------------------------------------------------Cash Flows From (Used In) Financing Activities  Decrease in bank loans                                   (6,000)   (6,000)  Increase in banker's acceptances                          1,000     5,000  Redemption of shares                                        (14)        -  Dividends paid                                           (1,275)     (857)----------------------------------------------------------------------------                                                           (6,289)   (1,857)----------------------------------------------------------------------------Cash Flows Used In Investing Activities  Acquisition of property, plant and equipment             (1,294)     (315)----------------------------------------------------------------------------                                                           (1,294)     (315)----------------------------------------------------------------------------Net cash inflow (outflow)                                   2,962      (756)Cash position, beginning of year                           (8,450)   (9,407)----------------------------------------------------------------------------Cash position, end of year                                 (5,488)  (10,163)--------------------------------------------------------------------------------------------------------------------------------------------------------Cash position is comprised of :  Cash and cash equivalents                                   398       328  Bank overdraft                                           (5,886)  (10,491)----------------------------------------------------------------------------                                                           (5,488)  (10,163)--------------------------------------------------------------------------------------------------------------------------------------------------------GOODFELLOW INC.Consolidated Statements of Change in Shareholders' EquityFor the First Quarter ended November 30, 2012 and 2011(in thousands of dollar)--------------------------------------------------------------------------------------------------------------------------------------------------------                                                   Share  Retained                                                 Capital  Earnings     Total----------------------------------------------------------------------------                                                      $         $         $Balance as at August 31, 2011                     9,222   104,682   113,904----------------------------------------------------------------------------Net earnings                                          -       889       889Transactions with owners, recorded directly in shareholders' equity  Dividends                                           -      (857)     (857)----------------------------------------------------------------------------Balance as at November 30, 2011                   9,222   104,714   113,936----------------------------------------------------------------------------Balance as at August 31, 2012                     9,154   106,882   116,036----------------------------------------------------------------------------Net earnings                                          -       739       739Transactions with owners, recorded directly in shareholders' equity  Dividends                                           -    (1,275)   (1,275)  Redemption of Shares                               (2)      (12)      (14)----------------------------------------------------------------------------Balance as at November 30, 2012                   9,152   106,334   115,486----------------------------------------------------------------------------