(Windsor, Ontario – June 5, 2018) – Reko International Group Inc. (TSX-V: REKO) today announced results for its third quarter ended April 30, 2018.
Consolidated sales for the quarter ended April 30, 2018, were $11.8 million, compared to $11.7 million in the prior year, an increase of $0.1 million or 0.7%. The increase in sales was related to increases in timing of program kickoffs in certain divisions.
(Windsor, Ontario – March 1, 2018) – Reko International Group Inc. (TSX-V: REKO) today announced results for its second quarter ended January 31, 2018.
Consolidated sales for the quarter ended January 31, 2018, were $11.5 million, compared to $11.2 million in the prior year, an increase of $0.3 million or 2.8%. The increase in sales was related to increases in demand in both the automotive and capital equipment markets.
Gross profit for the quarter ended January 31, 2018, was $1.5 million, or 13.4% of sales, compared to a gross profit of $2.0 million, or 18.0% of sales in the prior year. The decrease in gross profit was reflective of a change in product mix, with certain projects worked on during the quarter experiencing lower margins than in prior quarters.
(Windsor, Ontario – December 7, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced results for its first quarter ended October 31, 2017.
Consolidated sales for the quarter ended October 31, 2017, were $8.8 million, compared to $10.3 million in the prior year, a decrease of $1.6 million or 15.4%. The decrease in sales was related to timing of kickoffs in certain divisions as well as lower volumes in certain sectors.
(Windsor, Ontario – December 5, 2017) – Reko International Group Inc. (TSX-V: REKO) is pleased to announce that Mark Read has joined Reko’s executive team as Director of the Automation Division. He is replacing Rick Stone, who is retiring after almost 29 years of service.
(Windsor, Ontario – October 4, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced results for its fourth quarter and year ended July 31, 2017.
On July 4, 2016, Reko announced that the customer related to the long term supply agreement announced in 2014, had exercised its right to make an advance payment. This one time payment of $3.9 million increased sales, gross profit and net income in Q4 2016 by this amount and net income by $2.9 million. There was no comparable payment in fiscal 2017, and therefore variances must be viewed in the context of this difference.
Consolidated sales for the year ended July 31, 2017, were $43.0 million, compared to $50.6 million in the prior year, a decrease of $7.6 million or 15.1%. The decrease in sales was related to the receipt of a one time payment in lieu of guaranteed volume under the long term agreement in the prior year, noted above, as well as a decrease in volumes in certain types of work in transportation and oil and gas sectors.
(Windsor, Ontario – August 2, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced its plans for the construction of a new manufacturing and innovation facility. The building, which will encompass over 40,000 square feet of production space, will be adjacent to its current premises on Silver Creek Industrial Drive in Lakeshore, ON.
(Windsor, Ontario – June 29, 2017) – Media reports were disseminated earlier today regarding a potential expansion of our Lakeshore, Ontario facility.
While discussions and negotiations as to such potential expansion are ongoing, there are not, as of yet, any definitive plans or agreements, and the plans for such expansion are subject to the completion of negotiations and entering into definitive agreements.
There is no assurance that such agreements will ever be finalized or that any expansion will proceed.
(Lakeshore, Ontario – December 12, 2016) – Reko International Group Inc. (TSX -V:REK) announced today the approval of a normal course issuer bid for 321,996 of its outstanding common shares.
The notice provides that Reko may, during the 12-month period commencing December 15, 2016 and ending December 14, 2017, purchase on the TSX Venture Exchange up to a total of 321,996 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 6,439,920 common shares of Reko outstanding as of today.
Reko announces the special dividend approved yesterday will be paid on January 19, 2017 to shareholders of record of December 12, 2016
(Windsor, Ontario – December 2, 2016) – Reko International Group Inc. (TSX-V:REK) is pleased to announce that the payment of the special, one-time, cash dividend of $0.20 cents per share
to the holders of the Company’s common shares that was announced on December 1, 2016, will be paid to the shareholders of record of December 12, 2016. The ex-dividend date will be December 8, 2016, and the actual payment of the cash dividend will occur on January 19, 2017.
(Windsor, Ontario – July 4, 2016)- On September 22, 2014, Reko International Group Inc. (TSX-V: REK)announced a supply agreement with a single customer for precision machining services. The contract was expected to generate $27.5 million of sales over a three-year period. Due to a change in market conditions, the client has exercised its right to make an advance payment of $3,000,000 US in lieu of 31% of the contracted volume. Reko will include the $3,000,000 payment in revenue and profit before tax during the final quarter of fiscal 2016. Accordingly, this amount will not be earned in future periods of the contract. The modified schedule calls for delivery of the remaining 36% of the originally contracted volume through 2020.
Reko Automation is currently seeking an innovative, results driven individual to join our team. The successful candidate will proactively develop and cultivate new customer relationships and obtain sales leads in order to continually grow as a well-respected organization in automation for the automotive, food, pharmaceutical and medical industry.
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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