Reko Reports Results for Second Quarter of Fiscal 2024
- Consolidated second quarter sales of
$11.95M are$0.28M or 2.4% favourable to same quarter of the prior year - Quarterly net income of
$102 and EPS of$0.02 - Strong balance sheet with working capital increase of
$3.4M over prior year
Financial Highlights:
(in 000's, except for per share data)
|
Three Months ended
|
Six Months ended
|
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(unaudited) |
(unaudited) |
|||
Fiscal |
Fiscal |
Fiscal |
Fiscal |
|
2024 |
2023 |
2024 |
2023 |
|
Sales |
|
|
|
|
Earned Revenue(1) Net Income |
7,865 102 |
8,328 483 |
16,201 414 |
16,522 1,187 |
EPS Basic |
0.02 |
0.08 |
0.07 |
0.21 |
Working Capital |
|
|
23,168 |
19,730 |
Shareholders' Equity |
|
|
45,654 |
45,972 |
Shareholders' Equity per Share |
|
|
8.21 |
8.00 |
(1) |
Earned revenue is a non-IFRS measure and is calculated as sales less costs associated with purchased material and subcontracting. A reconciliation of this non-IFRS measure is included in the MD&A. |
Consolidated sales in the second quarter were
Earned revenue for the quarter declined
Gross profit for the quarter ended
Selling and administrative expenses ("SG&A") were
Net income for the quarter ended
"This quarter reflects the impact of what might be called "the perfect storm", stated
During the quarter, the Company purchased and subsequently cancelled 71,800 shares under the normal course issuer bid which expired on
Neither
SOURCE