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CEO & President Letter to Shareholders 2019 Financial Results - 2020 Outlook
CEO & President Letter to Shareholders 2019 Financial Results - 2020 Outlook C...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n\n\n\nCEO & President Letter to Shareholders 2019 Financial Results - 2020 Outlook\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCEO & President Letter to Shareholders 2019 Financial Results - 2020 Outlook\nCanada NewsWire\nNANAIMO, BC, April 30, 2020\n\n\n\nNANAIMO, BC, April 30, 2020 /CNW/ - Dear AEP Shareholders,\nDuring these unprecedented times, we hope that you and your loved ones STAY SAFE and STAY HEALTHY. To date, all AEP operations in all locations have been deemed essential businesses and we are busy working to supply our customers across Canada. We continue to closely monitor developments in the COVID-19 pandemic and to respond to provincial and federal updates with the urgency required. We have developed a proactive company-wide strategy to how we navigate the potential impacts to AEP, maintain our social responsibilities, and minimize the spread of the Coronavirus (COVID-19). We have a solid business continuity and interruption plan, which we are diligently executing.\nBUSINESS UPDATE - YEAR 2019Reflecting on 2019, I am both humbled and pleased to share with you that AEP has met, and in some cases exceeded, our expectations.\n2020 marks AEP's third year as a public company and we believe it is an opportune and appropriate time to share our progress to-date, comment on what we see as our path forward, and showcase to you, our shareholder, some key messages for 2020 and beyond. \nDespite the current challenges we are overcoming and the unknown future effects of COVID-19, as it relates to our business, AEP is in a strong financial position. We have liquidity and we have kicked off a new financial year in a superior financial position, with a strong orderbook, an exceptional turn-around in 2019 and, successfully closing an oversubscribed Private Placement for gross proceeds of over $4.5 million in Q1 2020.\nAfter a challenging 2018, and a slow start in Q1 2019, we demonstrated exceptional revenue growth for the full year ending December 31, 2019. Total revenues for our year ended December 31, 2019 were $34.7 million compared to $13.4 ...