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Reko reports profitable quarter to end the fiscal year

Reko International Group

(Windsor, Ontario – October 4, 2018) – Reko International Group Inc. (TSX-V: REKO) today announced results for its year ended July 31, 2018.

Consolidated sales for the fourth quarter of 2018 were $10.2 million compared to $9.7 million in the same period last year, an increase of $0.5 million or 5.3%. This was largely due to the number of projects completed during the quarter. Consolidated sales for the year ended July 31, 2018, were $42.3 million, compared to $43.0 million in the prior year, a decrease of $0.7 million or 1.6%. The decrease in sales was related to consistently lower currency exchange rates particularly in the early part of the fiscal year.

Reko Celebrates Grand Opening of New Automation & Innovation Facility

Reko International Group
  • Reko’s third facility in Lakeshore, Ontario
  • Expands capabilities in industrial automation solutions
  • Part of aggressive growth and diversification plans for Reko

June 4, 2018 – Reko International Group Inc. (TSX-V: REKO) today celebrated the grand opening of their new state-of-the-art facility dedicated to the design, development, and build of innovative industrial automation solutions.

Reko Automation, a division of Reko International Group, will now operate out of their newly constructed 48,600 sq.ft. facility in Lakeshore, Ontario. With three 150-foot long bays, 19-foot ceilings, and up to 30 metric tonne crane capacity, Reko Automation now has the infrastructure in place to deliver large scale, turn-key automation projects and Industry 4.0 solutions.

Reko’s Profits Improve as Capital Projects Complete

Reko International Group

(Windsor, Ontario – June 5, 2018) – Reko International Group Inc. (TSX-V: REKO) today announced results for its third quarter ended April 30, 2018.

Consolidated sales for the quarter ended April 30, 2018, were $11.8 million, compared to $11.7 million in the prior year, an increase of $0.1 million or 0.7%. The increase in sales was related to increases in timing of program kickoffs in certain divisions.

REKO announces its 26th consecutive profitable quarter

Reko International Group

(Windsor, Ontario – March 1, 2018) – Reko International Group Inc. (TSX-V: REKO) today announced results for its second quarter ended January 31, 2018.

Consolidated sales for the quarter ended January 31, 2018, were $11.5 million, compared to $11.2 million in the prior year, an increase of $0.3 million or 2.8%. The increase in sales was related to increases in demand in both the automotive and capital equipment markets.

Gross profit for the quarter ended January 31, 2018, was $1.5 million, or 13.4% of sales, compared to a gross profit of $2.0 million, or 18.0% of sales in the prior year. The decrease in gross profit was reflective of a change in product mix, with certain projects worked on during the quarter experiencing lower margins than in prior quarters.

REKO announces its 25th consecutive profitable quarter

Reko International Group

(Windsor, Ontario – December 7, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced results for its first quarter ended October 31, 2017.

Consolidated sales for the quarter ended October 31, 2017, were $8.8 million, compared to $10.3 million in the prior year, a decrease of $1.6 million or 15.4%. The decrease in sales was related to timing of kickoffs in certain divisions as well as lower volumes in certain sectors.

REKO Reports Year End Profit

Reko International Group

(Windsor, Ontario – October 4, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced results for its fourth quarter and year ended July 31, 2017.

On July 4, 2016, Reko announced that the customer related to the long term supply agreement announced in 2014, had exercised its right to make an advance payment.  This one time payment of $3.9 million increased sales, gross profit and net income in Q4 2016 by this amount and net income by $2.9 million.  There was no comparable payment in fiscal 2017, and therefore variances must be viewed in the context of this difference.

Consolidated sales for the year ended July 31, 2017, were $43.0 million, compared to $50.6 million in the prior year, a decrease of $7.6 million or 15.1%. The decrease in sales was related to the receipt of a one time payment in lieu of guaranteed volume under the long term agreement in the prior year, noted above, as well as a decrease in volumes in certain types of work in transportation and oil and gas sectors.

Reko International Group Announces Expansion as Part of Growth Strategy

Reko International Group

(Windsor, Ontario – August 2, 2017) – Reko International Group Inc. (TSX-V: REKO) today announced its plans for the construction of a new manufacturing and innovation facility. The building, which will encompass over 40,000 square feet of production space, will be adjacent to its current premises on Silver Creek Industrial Drive in Lakeshore, ON.

Clarification from Reko International Group Inc. (TSX-V: REKO) of Recent Media Reports

Reko International Group

(Windsor, Ontario – June 29, 2017) – Media reports were disseminated earlier today regarding a potential expansion of our Lakeshore, Ontario facility.

While discussions and negotiations as to such potential expansion are ongoing, there are not, as of yet, any definitive plans or agreements, and the plans for such expansion are subject to the completion of negotiations and entering into definitive agreements.

There is no assurance that such agreements will ever be finalized or that any expansion will proceed.

Reko International Group Inc. to buy back up to 321,996 of its common shares

Reko International Group

(Lakeshore, Ontario – December 12, 2016) – Reko International Group Inc. (TSX -V:REK) announced today the approval of a normal course issuer bid for 321,996 of its outstanding common shares.

The notice provides that Reko may, during the 12-month period commencing December 15, 2016 and ending December 14, 2017, purchase on the TSX Venture Exchange up to a total of 321,996 of its common shares, being approximately 5% of the outstanding common shares. Matthew LaRose of National Bank Financial will be the Member acting on behalf of Reko. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. There are 6,439,920 common shares of Reko outstanding as of today.

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