HICKOK INCORPORATED
Climate Impact & Sustainability Data (2016)
Reporting Period: 2016
Environmental Metrics
Governance Achievements
- Adopted a written Code of Ethics for the Chief Executive Officer and Chief Financial Officer.
- Adopted a written Code of Business Conduct for all officers and employees.
- Implemented a system to address the "Whistle Blower" provision of the Sarbanes-Oxley Act of 2002.
Climate Goals & Targets
Environmental Challenges
- Competition from domestic and international firms with greater financial resources and larger sales organizations.
- Depressed emissions testing market due to EPA requirements and state budget constraints.
- Seasonality in automotive aftermarket revenues.
- Dependence on a limited number of customers and the automotive industry.
Mitigation Strategies
- Customer diversification strategy through acquisitions and expansion into the aftermarket.
- Development of new and innovative products.
- Focus on working with Tier 1 suppliers in the OEM market.
- Expense reduction initiatives, including reducing employee count and outsourcing some functions.