Equipment distributor and rental company Noble Iron announced 2014 total revenue of $21.1 million compared to $20.2 million in 2013, a 4.5 percent boost, while rental revenue increased $1.6 million or 12 percent compared to 2013. In the fourth quarter, revenue increased slightly from $4.8 million in 2013 to $5 million in 2014, while rental revenue hiked 4 percent year over year.
“2014 was a year of fundamental change for Noble Iron,” said Nabil Kassam, the company’s chairman and CEO. “Though our operating divisions generated revenues that were generally consistent with performance over 2013, they did so against a backdrop of major transitions, including real estate migration and consolidation, and restructuring our team with new people.
“Noble Iron also implemented significant team and leadership changes. More than 40 of our employees in Southern California joined the company during 2014. While it has taken time to integrate so many new people, we are confident that our current team is capable of executing the Noble Iron vision.”
During the year Noble Iron began centralizing its Southern California operations within a single location in Pico Rivera, not far from downtown Los Angeles. “We believe this centralization will significantly improve the efficiency of our equipment offerings in that market. The move to Pico Rivera required the consolidation of our four existing Southern California locations: Ventura, San Diego, Riverside and Long Beach. Over the second half of 2014, many of our resources were devoted to the successful execution of this consolidation.”
Kassam said the company refocused the operations of its software operations, Texada Software. “We also migrated to a more user-driven, iterative approach to development, wherein select customers work closely with our engineering teams on pre-release products, and provide feedback that is incorporated into final release. A notable outcome of this investment was the development of FleetLogic, an equipment asset-tracking application designed for mobile devices.”
Noble Iron’s equipment rental and dealership business serves customers in California and Texas. It is the exclusive distributor of LiuGong Construction Machinery and Allied Construction Products in Southeast Texas. It also operates Texada Software.
Noble Iron is No. 98 on the new RER 100.
