Greystone Reports Sales Growth of Over $2.2 Million in First Quarter
Tulsa-based Greystone Logistics, Inc. reported sales growth of over $2.2 million for the first quarter ended August 31, 2016, with sales of over $7.8 million compared to less than $5.6 million for the prior period, an increase of over 40%.
Greystone’s pallet sales to its two major customers during the three months ended August 31, 2016, were 66% of total sales (36% and 30%, respectively) compared to 31% (31% and -0-%, respectively) in the prior period. The increase in pallet sales is primarily attributable to the addition of the second major customer, a pallet leasing company.
For the three months ended August 31, 2016, Greystone recorded net income of $27,008 compared to $48,396 in the prior period. For the three months ended August 31, 2016, Greystone recorded a net loss available to common stockholders of $(117,439), or $(0.00) per share, compared to $(91,315), or $(0.00) per share, for the prior period.
“The addition of the pallet leasing customer has had a significant impact on Greystone’s sales and operations,” stated Warren Kruger, President and CEO. “Greystone incurred substantial costs necessary to achieve this growth including an approximately 68% increase in the number of employees over the prior period. The pallet leasing company’s demand for pallets is expected to be a continuing major source of revenue for Greystone. To meet this demand, we continued to invest in our company’s future through the addition of another injection-molding machine under a capital lease during the quarter ended August 31, 2016, and a second machine in September 2016. Further, we will be focusing on improving the returns for our shareholders through improvements in operating efficiencies and cost containment to achieve better margins.”
Source: Greystone Logistics
Sewell on the Go Looks to Polymer Logistics and the Marketplace Crate
Polymer Logistics has announced the implementation of a range of its retail-ready packaging (RRP) solutions by award-winning “Sewell on the go”. Sewell, recent national winner of the prestigious Forecourt Trader of the Year Award, will initially deploy Polymer Logistics products at eight of their 12 convenience stores. The centerpiece of the implementation is the Marketplace crate. This attractive wood-effect plastic container from Polymer Logistics delivers a “farm fresh” look that catches the attention of customers and has been proven by other retailers to boost sales.
Axios to Present at StableView TECH16 and The MicroCap Conference
Axios Mobile Assets Corp. President and CEO Richard MacDonald will present at two investment conferences during the month of October: StableView TECH16 on Tuesday, October 18 in Toronto, and The MicroCap Conference on Tuesday, October 25 in Philadelphia.
Mr. MacDonald will discuss the factors driving demand from food suppliers for the Axios pallet-based logistics solution. Axios supplies its advanced logistics solution to four of the five largest egg vendors in the United States, and 10 of the top 40. The Company has also begun introducing a proprietary active sensor into its pallets and is currently piloting the sensor, along with an easy-to-use dashboard, with one of its contracted vendors.
StableView TECH16 will take place at the Arcadian Loft, 401 Bay Street, 8th floor, with Mr. MacDonald presenting in the Boyle & Co. Room at 12:55 p.m. StableView TECH16 is organized by StableView Asset Management Inc., a full-service asset and wealth management firm catering to individual and institutional investors. Headed by well-known portfolio manager Colin Fisher, the company is hosting its annual technology conference for a third straight year.
The MicroCap Conference will be held at the Hotel Monaco Philadelphia, 433 Chestnut Street. Mr. MacDonald’s presentation begins at 3:30 p.m. The MicroCap Conference brings together a select group of companies from the United States and Canada for two days of presentations, meetings and networking.
Pallet Theft Linked to Fatality in California
A man was killed in the parking lot of a California warehouse on October 18, according to a news report. The crime occurred at the True Whole Foods facility in San Leandro.
“He tried to stop a crime today and paid the tragic price of trying to do what was the right thing. Our hearts go out to the victim, all the employees at True World Foods and the family of the victim and his friends,” the piece quotes San Leandro police spokesman Lt. Robert McManus.
According to witnesses, the victim had confronted the driver of a white pickup truck who was trying to take wood pallets belonging to the business. The driver of the truck drove over the man and then fled in his vehicle. He was captured after a 5-hour manhunt. The employee was pronounced dead at the scene.