Mississauga, ON -- (SBWIRE) -- 05/22/2020 -- AllPennyStocks.com Media, Inc. (https://www.AllPennyStocks.com/) announces its latest article titled "Micro Cap's Pivot to Automation & Profitability Starting To Get Noticed By Wall Street."
Many businesses pivot to keep pace with the times. Amazon.com (NASDAQ:AMZN) was once only an online bookstore before ultimately revolutionizing online shopping. Netflix (NASDAQ:NFLX) began as a DVD delivery service. And decades ago, Microsoft (NASDAQ:MSFT) was nearly entirely hardware and BlackBerry (NYSE:BB) (TSX:BB) was king of commercial smartphones.
Who knows where any of these companies would be today had management not had the vision to change direction?
In 2018, ENGlobal (NASDAQ:ENG) decided it was time to pivot away from low-margin, manpower-intensive jobs as an engineering consulting firm, and move into offering turnkey modular process and automation systems primarily to the global energy sector. The plan was to correct declining revenue and net losses by providing these much-needed, higher-margin solutions -- while leaning to a much lesser degree on its lower-margin engineering consulting and technical staffing unit.
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