Savings set these two up for gains

Article Excerpt

MCCOY CORP. $6.25 (Toronto symbol MCB; TSINetwork Rating: Speculative) (780-453-8451; www.mccoyglobal.com; Shares outstanding: 26.8 million; Market cap: $167.6 million; Dividend yield: 3.2%) operates through two divisions: Mobile Solutions and Energy Products and Services. Energy Products and Services sells hydraulic equipment, including power tongs, for drilling rigs. Power tongs are large wrench-like tools that tighten and loosen the pipe in the drill hole. Mobile Solutions builds heavy-duty trailers for U.S. and Canadian clients in the oil and gas, wind energy, infrastructure and construction industries. In the three months ended June 30, 2013, McCoy’s revenue rose 3.1%, to $42.4 million from $41.1 million a year earlier. Higher sales at Energy Products and Services offset declines at Mobile Solutions. Earnings rose 43.4%, to $3.1 million, or $0.11 a share, from $2.1 million, or $0.08. The Energy Products and Services division’s sales increase lifted its profits, which made up for lower Mobile Solutions earnings. As well, McCoy has cut costs at Mobile Solutions in…