Strongco Corporation Reports Audited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2016
March 23, 2017 at 08:01 pm EDT
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Strongco Corporation reported audited consolidated financial results for the fourth quarter and year ended December 31, 2016. For the quarter, revenue was $81.2 million against $101.4 million a year ago. Operating loss before restructuring costs and intangible impairment was $4.4 million against $6.5 million a year ago. Pretax loss was $6.2 million against $7.4 million a year ago. Net loss from continuing operations was $6.1 million or $0.46 per basic and diluted share against $5.5 million or $0.41 per basic and diluted share a year ago. LBITDA was $0.2 million against $0.4 million a year ago.
For the year, revenue was $361.3 million against $385.0 million a year ago. Operating loss before restructuring costs and intangible impairment was $7.7 million against $4.8 million a year ago. Pretax loss was $33.6 million against $12.2 million a year ago. Net loss from continuing operations was $38.3 million or $2.90 per basic and diluted share against $8.9 million or $0.68 per basic and diluted share a year ago. EBITDA was $5.8 million against $16.2 million a year ago.
Strongco Corp is a Canada-based company. The Company sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. It represents equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Sennebogen, Manitowoc Crane, including National and Grove, Fassi, Konecranes, Eco Log, and Allied Construction. It provides in-field service, in-shop service, refurbishment, component rebuilding, scheduled maintenance, customer service agreements (CSA), extended warranties, equipment inspections, air conditioning, painting services, hydraulic repairs and others.
STRONGCO CORPORATION 
