Reko Reports Results for Third Quarter of Fiscal 2024
- Consolidated third quarter sales of
$9.6M are$0.7M or 6.8% unfavourable to same quarter of the prior year - Quarterly net loss of
$0.8M and EPS of ($0.15 ) - Strong balance sheet with improved cash position of
$2.1M over prior quarter
Financial Highlights:
(in 000's, except for per share data)
|
Three Months ended
|
Nine Months ended
|
||
(unaudited) |
(unaudited) |
|||
Fiscal |
Fiscal |
Fiscal |
Fiscal |
|
2024 |
2023 |
2024 |
2023 |
|
Sales |
|
|
|
|
Earned Revenue(1) Net (Loss) Income |
7,089 (849) |
7,659 55 |
23,291 (435) |
24,181 1,242 |
EPS Basic |
(0.15) |
0.01 |
(0.08) |
0.22 |
Working Capital |
|
|
22,543 |
22,868 |
Shareholders' Equity |
|
|
44,821 |
45,870 |
Shareholders' Equity per Share |
|
|
8.06 |
8.05 |
(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 third quarter were
Earned revenue for the quarter decreased
Gross profit for the quarter was
Selling and administrative expenses ("SG&A") were
The company's earnings have also been adversely affected by fluctuations in foreign exchange rates when compared to the same period of the prior year;
Net loss for the quarter ended
"While our efforts to include non-automotive markets in our customer base have been ongoing, we acknowledge that progress has taken longer than anticipated", stated
Reko has not repurchased any shares under the normal course issuer bid announced on
Neither
SOURCE