BRIEF-Strongco Q1 loss per share $0.05

Wed May 11, 2016 10:40am EDT
 
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May 11 (Reuters) - Strongco Corp :

* Strongco announces first quarter 2016 results

* Qtrly revenues decreased by 3% to $109.7 million

* Qtrly loss per share $0.05

* At March 31, 2016 equipment inventory was $176.7 million , down $22.3 million from December 31, 2015

* Says "market conditions are expected to remain challenging throughout balance of 2016 in Canada"

* Says "demand for heavy equipment and cranes is expected to remain weak throughout 2016"

* Q1 earnings per share view C$-0.18 -- Thomson Reuters I/B/E/S

* Says in Ontario larger scale construction activity is expected to remain low in 2016

* In response to current market conditions, weak outlook, management has made adjustments to cost structure, with layoffs, other cost reductions Source text for Eikon: Further company coverage: