McCOY GLOBAL INC. ANNOUNCES FOURTH QUARTER AND ANNUAL RESULTS FOR 2017
Edmonton, Alberta – McCoy Global Inc. (“McCoy” or “the Corporation”) (TSX:MCB) today announced its operational and financial results for the three months and year ended December 31, 2017.
“McCoy closed 2017 having executed on several key strategic initiatives to increase revenue and reduce McCoy’s cost structure,” said Jim Rakievich, President and CEO of McCoy Global. “In 2017, McCoy’s revenues increased by 48% and customer orders increased by 72%, as compared to 2016. This is a result of the strategic acquisition of 3PS, positive Western Hemisphere demand for McCoy’s products and services and our focus on responsiveness to customers.”
“Market fundamentals appear to be trending positively as we start 2018, which should contribute to improved financial performance in the second half of 2018,” continued Jim Rakievich. “In 2018, revenue growth remains a priority and McCoy will focus on introducing new technologies and strategic acquisition opportunities that complement the Corporation’s technology platforms and solve customer challenges. In addition, cost disciple will remain a focus and the Corporation will continue to drive supply chain improvements and the optimization of the assembly production model to achieve production cost improvements and a reduction in lead times and delivery times for standard products.”