MISSISSAUGA, Ontario Industrial equipment rental and distribution company Strongco reduced its first-quarter loss as lower cost of sales offset a revenue drop.
Strongco officials said it lost about U.S. $72,000 in the three-month period ended March 31, traditionally the weakest quarter of the year for the Mississauga, Ontario-based company. In the same quarter last year, the company lost five times as much. First quarter revenue fell 9.5 percent year over year to about $46.9 million, but cost of sales decreased to $37.2 million from $42.2 million.
Strongco is No. 96 on the RER 100, although rental only represented about 3 percent of its 2002 revenue.