Savvy Trades and Investments

[larrybaz]

KLNG - This is the old DPDW. I held this one for a long time with disappointing results. I think this was one of 10bagger's stocks. They do have a new CEO now, so maybe things are changing. I tried to buy some .55s this morning, but that didn't happen. The CEO does sound pretty positive about things fwiw. From the PR this morning:

“The team achieved significant revenue and gross profit growth during the first quarter,” said Erik Wiik, President and CEO of KOIL. “We are off to a great start in 2024, with exceptional results reflecting strong execution and accelerating results from growth initiatives. Year-over-year sales growth of 56% was accompanied by continued strong order intake during the quarter. As previously communicated, we also won a major contract in April for delivery and installation of subsea safety control systems to an international energy company.

”Our growth strategy is delivering results, and we remain committed to further expanding our capacity as well as increasing our presence in faster-growing, international markets.

“We are a focused subsea controls technology provider. We manufacture engineer-to-order products, combined with highly responsive service support, to solve our customers’ deepwater challenges and keep their wells producing. This is mission-critical technology with high barriers to entry.

“While most of our growth can be attributed to repeat orders from satisfied customers, we have also increased the number of key accounts. I am confident that our continued progress will enable us to create long-term value for our customers, shareholders, and employees.”