BRIEF-Strongco posts Q4 loss per share $0.40

Wed Mar 23, 2016 6:35pm EDT
 
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March 23 (Reuters) - Strongco Corp :

* Strongco announces fourth quarter and full year 2015 results

* Qtrly revenues $128.2 million versus $128.8 million

* Management anticipates a continuation of challenging market conditions in Canada in 2016, particularly in Alberta and Quebec

* "Alberta , with no recovery in price of oil anticipated in near term, economic activity across entire province is expected to remain depressed"

* Markets for residential construction & forestry expected to remain active in 2016, will result in continued demand for heavy equipment

* Qtrly loss per share $0.40

* In response to market conditions & weak outlook, management made adjustments to cost structure with layoffs & other cost reductions

* Layoffs in 2015 resulted in a reduction in headcount of 45, or 7%, of company's workforce in Canada

* "in Quebec, overall, demand for heavy equipment and cranes is expected to remain soft in near term" Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)