Based in St. Paul, Minnesota, at the time of acquiring KBS ATRM divested itself of its test handler product line, its only operating business in Q1 2014, and received $770,000 as its first royalty payment thru Dec. 31, 2014. Future royalty payments are due quarterly, according to virtual-strategy.
ATRM’s president and CEO, Dan Koch, said the company took a loss of $500,000 for Q1 2015 due to the unusually harsh winter weather in the New England area that affected two commercial projects that were in the works at the time it acquired KBS.
Noting the company is working hard to improve operations, Koch said, “Initiatives include selective price increases, organizational streamlining, implementation of standard contracts, and improvements in operating processes, financial reporting, and controls. As we enter the peak season for our business, we believe these initiatives will lead to improved operating results at KBS in future quarters.” Koch recently moved to Maine to
The company also exited its underused corporate headquarters in North St. Paul, which will improve cash flow. ATRM’s board chairman, Jeff Eberwein, anticipates the company will generate annual revenues of $40 million from its two facilities in Waterford and South Paris, Maine, where it produces modular housing units for residential and commercial applications. ##
(Photo credit: Aetrium-KBS modular residential building)
