07:15 AM EDT, 07/11/2024 (MT Newswires) -- Goodfellow ( GFELF ) , which manufactures lumber products, overnight on Wednesday said low consumer confidence and sluggish housing starts led to narrower second quarter net earnings and lower revenue.

Net earnings fell to $5.3 million or $0.62 per share, from $6.6 million or $0.77 per share a year ago. Consolidated sales for the same period were $140.3 million compared with$142.3 million last year.

While the broader economic landscape has impacted sales, Goodfellow ( GFELF ) reports that demand has shifted towards different types of products within its portfolio and the company is "well positioned" to cater to this evolving demand.