Q2 RESULTS - BOOK VALUE 7.57 - The book value is real as real estate holding I believe are understated
- Working Capital is over $3 per share
- Annual sales around $40M / Price to Sales low
- Only 6 million shares out
- Lots of shares being bought back by the company
Its been a long time coming but as far as value goes I don't see any better....GDL:TSX is a close second.
Reko International Group Inc. has released its financial results for the quarter ended Jan. 31, 2021.
Consolidated sales for the second quarter of 2021 amounted to $11-million, compared with $9.5-million in the same period last year, an increase of $1.4-million, or 15 per cent. The increase in sales volume was a result of companies being more willing to kick off new awards. While the pandemic will continue to present challenges, the improvement in sales is a positive sign.
Gross profit for the quarter ended Jan. 31, 2021, was $1.1-million, compared with $1-million for the same period in the prior year. Gross profit as a percentage of sales of 9.8 per cent for the quarter is an improvement from the first quarter's gross profit of 5 per cent. An increase in sales volume has helped improve operational efficiencies, which, in turn, positively impacts gross margin.
Selling and administrative expenses for the second quarter of fiscal 2021 totalled $1-million, compared with $1.2-million for the same period in fiscal 2020. The company continues to diligently control discretionary spending.
Net income for the three months ended Jan. 31, 2021, was $500,000, or seven cents per share, compared with $50,000, or one cent per share, for the same period in the prior year. For the six months ended Jan. 31, 2021, net loss was $400,000, or seven cents per share, compared with $200,000, or three cents per share, in the same period last year.
During the quarter ended Jan. 31, 2021, Reko purchased and subsequently cancelled 137,800 shares under the provision of the normal course issuer bid. A total of 158,900 common shares were purchased and cancelled during the fiscal year at a cost of $500,000.
"The quarter included a long-awaited improvement in workload consistent with the increasing demand seen in some of our markets," noted Diane Reko, chief executive officer. "We continue to focus on operational efficiencies as we step up to assist our customers in capturing their share of this pent-up demand."
About Reko International Group Inc.
Reko International Group is a diversified, technology-driven manufacturing organization located in Southwestern Ontario, just minutes from the U.S. border. Areas of expertise include: robotic factory automation solutions; the precision machining of large critical parts; and plastic injection and low compression acoustic tooling. Reko's family-oriented culture embraces past experience, fosters innovation and always ensures the highest standard of quality. Reko believes in strengthening communities by advancing manufacturing.
© 2021 Canjex Publishi