Business
Reko Returns to Profit In Its First Quarter of Fiscal 2025
Reko Returns to Profit In Its First Quarter of Fiscal 2025 Canada NewsWire ...
About this update from Reko Manufacturing Group Inc.
[{"type":"text","content":"\n\n\n\n Reko Returns to Profit In Its First Quarter of Fiscal 2025\n \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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml40{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n WINDSOR, ON\n \n\n ,\n \n\n Dec. 5, 2024\n \n\n /CNW/ - Reko International Group Inc. (TSXV: REKO) today announced results for its first quarter ended\n \n October 31, 2024\n \n .\n \n\n\n First Quarter Highlights:\n \n\n\n\n Quarterly net income of\n \n $88\n \n and EPS of\n \n $0.02\n \n improved by\n \n $3,547\n \n and\n \n $0.64\n \n per share over the fourth quarter of the prior fiscal year\n \n\n Gross profit of 19.5% compared to 14.4% a year ago\n \n\n Improved cash position of\n \n $2.4M\n \n over prior quarter and\n \n $6.1M\n \n over first quarter of fiscal 2024\n \n\n\n\n Financial Highlights:\n \n\n\n\n (in 000's,except for per share data)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n (1)  Earned revenue is a non-IFRS measure and is calculated as sales less costs associated with purchased material and subcontracting. Earned revenue margin is an expression of earned revenue as a percentage of sales\n \n A reconciliation of this non-IFRS measure is included in the MD&A.\n \n\n\n\n\n\n\n\n\n\n\n (2)  Adjusted EBITDA is a non-IFRS measure and is defined as adjusted earnings from operations excluding depreciation and amortization. A reconciliation of this non-IFRS measure is included in the MD&A.\n \n\n\n\n\n\n\n Consolidated sales for the quarter ended\n \n October 31, 2024\n \n decreased by 25.3%, or\n \n $3,465\n \n compared to the same period last year. Sales in certain areas of the business are influenced by the number of active projects, the value of awards, and the timing of project milestones, which can vary significantly by job, sector and by cu...