Ryko Solutions Inc. reported one of its best annual performances in 40 years of business in 2012, with total corporate revenue approaching $90 million, a 22 percent year-over-year increase.
The end-of-year results, which also included a 38 percent increase in equipment sales and an EBITDA increase of 53 percent, were based on widespread market acceptance of the companys bundled service and CleanTouch cleaning products. Ryko experienced double-digit growth in all three segments of its business: maintenance services, car wash equipment, and cleaning solutions.
According to Rykos CEO, Steve LHeureux, the company tripled the size of its engineering team over the past two years and reinvigorated its R&D department with new leadership in 2012. These two developments were instrumental in the introduction of two touch-free products, driving a surge in sales of nearly 50 percent.
Looking ahead to 2013, Ryko has budgeted over $4 million in investments for its factory to increase manufacturing capacity to meet growing demand for equipment and to continue to drive cost-efficiencies. To further strengthen its 300-plus-member national service support network, Ryko hired an additional 70 field technicians and invested over $1 million in technical training in 2012, a figure Ryko will match in 2013 as it renews its commitment to deliver the industrys best customer support experience.