March 10, 2022
Reko Reports Profitable Quarter
(Windsor, Ontario – March 10, 2022) – Reko International Group Inc. (TSX-V: REKO) today announced results for its quarter ended January 31, 2022.
(Windsor, Ontario – March 10, 2022) – Reko International Group Inc. (TSX-V: REKO) today announced results for its quarter ended January 31, 2022.
(Lakeshore, Ontario – January 31st, 2022) – Reko International Group Inc. (TSX-V:REKO) announced today that Roy Verstraete has been appointed as the newest member of its Board of Directors. Mr. Verstraete brings years of manufacturing leadership experience. He most recently led Anchor Danly as President and CEO through a period of significant growth and financial success. His additional experience in mergers and acquisitions, and as a chair and board member on a variety of boards make him a strong addition to our Reko International Group team.
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(Lakeshore, Ontario – December 28, 2021) – Reko International Group Inc. (TSX-V:REKO) announced today the approval of a normal course issuer bid for 300,837 of its
outstanding common shares.
The notice provides that Reko may, during the 12-month period commencing December 31, 2021 and ending December 30, 2022, purchase on the TSX Venture Exchange up to a total of 300,837 of its common shares, being approximately 5% of the outstanding common shares. Matthew Larose of National Bank Financial will be the Member acting on behalf of Reko. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. There are 6,016,750 common shares of Reko outstanding as of today.
A shareholder may receive a copy of Form 5G, Notice of Intention to Make a Normal Course Issuer Bid by contacting the Company via e-mail at irelations@rekointl.com; or, by writing to the Company, Attention: Investor Relations, 469 Silver Creek Industrial Drive, Lakeshore, Ontario N8N 4W2. Reko believes that its common shares have been trading in a price range, which does not reflect their value in relation to Reko’s business and its future business prospects.
As a result, depending upon future price movements and other factors, Reko believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its available funds.
(Windsor, Ontario – December 2, 2021) – Reko International Group Inc. (TSX-V: REKO) today announced results for its first quarter ended October 31, 2021.
Consolidated sales for the quarter ended October 31, 2021, were $12.1 million, compared to $6.8 million in the prior year, an increase of $5.2 million or 76.9%. Sales volumes during the quarter showed a strong improvement, particularly compared to those during the first quarter of the previous fiscal year when the COVID-19 pandemic had a significant negative impact on the Company’s ability to secure new sales. The recent opening of the Canada-U.S. border to vaccinated individuals has permitted customers to attend the Company’s facilities for buy off of equipment, which has had a positive effect on fiscal Q1 sales.
(Windsor, Ontario – October 18, 2021) – Reko International Group Inc. (TSX-V: REKO) is pleased to announce the upcoming payment of a special cash dividend of $0.25 per share to all shareholders of record on November 2, 2021, with a payment date of December 2, 2021 to coincide with its Annual General Meeting.
(Windsor, Ontario – October 14, 2021) – Reko International Group Inc. (TSX-V: REKO) today announced results for its fourth quarter and year ended July 31, 2021.
Consolidated sales for the fourth quarter of 2021 were $9.0 million compared to $11.4 million in the same period last year, a decrease of $2.4 million, or 21.1%. Consolidated sales for the year ended July 31, 2021 were $39.2 million, compared to $40.2 million in the prior year, a decrease of $1.0 million or 2.5%.
(Windsor, Ontario – June 9, 2021) – Reko International Group Inc. (TSX-V: REKO) today announced results for its quarter ended April 30, 2021.
Consolidated sales for the third quarter of 2021 were $12.4 million compared to $10.0 million in the same period last year, an increase of $2.4 million, or 24.3%. Sales volumes continue to show improvement, with third quarter sales 13% above the second quarter sales, and 81% higher than those of the first quarter.
(Windsor, Ontario – March 11, 2021) – Reko International Group Inc. (TSX-V: REKO) today announced results for its quarter ended January 31, 2021.
Consolidated sales for the second quarter of 2021 were $11.0 million compared to $9.5 million in the same period last year, an increase of $1.4 million or 15%. The increase in sales volumes was a result of companies being more willing to kick off new awards. While the pandemic will continue to present challenges, the improvement in sales is a positive sign.
(Lakeshore, Ontario – December 23, 2020) – Reko International Group Inc. (TSX-V: REKO) announced today the approval of a normal course issuer bid for 307,162 of its outstanding common shares.
The notice provides that Reko may, during the 12-month period commencing December 31, 2020 and ending December 30, 2021, purchase on the TSX Venture Exchange up to a total of 307,162 of its common shares, being approximately 5% of the outstanding common shares. Matthew Larose of National Bank Financial will be the Member acting on behalf of Reko. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. There are 6,143,250 common shares of Reko outstanding as of today.
Windsor, Ontario – December 3, 2020) – Reko International Group Inc. (TSX-V: REKO) today announced results for its first quarter ended October 31, 2020.
Consolidated sales for the quarter ended October 31, 2020, were $6.8 million, compared to $9.4 million in the prior year, a decrease of $2.5 million or 27.0%. The continued impact of the COVID-19 pandemic affected the Company’s ability to secure new sales and, in some cases, caused delays in the kick-off of new awards. Sales in the automotive sector, driven by the introduction of new models and model changes, continue to trend at lower volumes, partly due to the adverse conditions associated with the global pandemic. The company continues to actively pursue other markets, with some recent successes in food processing and medical devices. While these efforts are taking longer than expected, we are starting to get some traction.
Consolidated sales for the fourth quarter of 2020 were $11.4 million compared to $10.7 million in the same period last year, an increase of $0.7 or 6.5%. Consolidated sales for the year ended July 31, 2020, were $40.2 million, compared to $47.9 million in the prior year, a decrease of $7.7 million or 16.1%. Lower overall sales volumes in certain sectors, particularly in automotive, impacted our results. Diversifying sales and breaking into new markets was challenging during the fiscal year but will continue to be pursued as an important strategy to improve our top line. Certain divisions also experienced a delayed timing of kick off and completion for certain jobs throughout the year. The COVID-19 pandemic did affect the Company’s ability to secure new sales, particularly in Q4. Wide-spread shutdowns of businesses temporarily impacted customer demand during the fourth quarter and made overall contact with new or existing customers difficult at times. The decrease in revenue was partially offset by an increase in the foreign exchange rate for U.S. dollar sales, particularly in the latter half of the year.
Consolidated sales for the third quarter of 2020 were almost $10.0 million compared to $14.3 million in the same period last year, a decrease of $4.3 million, or 30%. The decrease is primarily a result of continued lower volumes in certain sectors, as well as continued challenges with breaking into diversified markets. Sales for the nine months ended April 30, 2020 decreased 23% to $28.9 million, compared to $37.3 million in the same period in the prior year.
Reko International Group Inc. is currently seeking an innovative, results driven individual to join our team. The successful candidate will be responsible for onsite installation, setup, and production support of the automation projects Reko builds.
Concorde Precision Machining Inc. is currently seeking a student intern to assist in creating a database in Microsoft Excel for all maintenance inventory.
Cleaning, deburring, and assembling parts for a manufacturing facility.
Set-up and operate CNC machines by reading and interpreting part prints, setting up and securing work pieces and tooling, verifying machine systems and tool sequence, setting cutting tools, programming to part prints, machining work pieces, checking finished work pieces, deburring, and prepping for assembly.
Concorde Precision Machining Inc., a division of Reko International Group Inc., is seeking results driven Machinists to join our team! The successful individuals will be required to perform and complete tasks associated with the manufacturing of all machined components.
Thank you for your interest in Reko International Group. Please contact us using the information below. To contact a specific division, please visit our division websites. We look forward to speaking with you soon!
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