Strongco Corporation (TSX: SQP) today reported financial results for the first quarter ended March 31, 2017.
"In the first quarter of 2017, we started to see small, but encouraging signs of improvement in the marketplace, following a challenging, transitional 2016, in which Management took actions to restructure, simplify and streamline the business," said Robert Beutel, Executive Chairman of Strongco. "While cautiously optimistic about the months to come, we are particularly pleased with the progress we've made to-date in streamlining our organization in terms of focus on core brands and core markets, sales processes, cost controls and inventory management. As a result of these initiatives, we now have a significantly reduced cost structure and an improved balance sheet, which will set a solid foundation for stability, enhanced market share and greater profitability going forward."
Activities During the First Quarter
First Quarter Results Materials
The complete first quarter 2017 MD&A and Audited Consolidated Financial Statements are available on our website at www.strongco.com/en/investor-relations/financial-reports/.
Conference Call Details
Strongco will hold a conference call on Thursday, May 11 at 10:00am ET to discuss first quarter results. Analysts and investors can participate by dialing 1-800-319-4610 or +1-604- 638-5340 outside of Canada and the USA. Following management's introductory remarks, a question and answer session will take place for analysts and institutional investors.
An archived recording will be available to listeners following the call until midnight on June 11, 2017. To access it, dial 1-855-669-9658 or +1-604-674-8052 outside of Canada and the U.S., and enter passcode 1366#.
About Strongco Corporation
Strongco Corporation is a major multiline mobile equipment dealer with operations across Canada. Strongco sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The Company has approximately 500 employees serving customers from 26 branches in Canada. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, including National and Grove, Terex Cedarapids, Terex Trucks, Fassi, Sennebogen, Konecranes and SDLG. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.
SOURCE: Strongco Corporation
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