A pulp chip conveyor and tower which carries chips to a Canfor pulp and paper mill in Prince George.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Uni-Select Inc. (UNS-T) says consolidated sales for the third quarter were $318.5-million, a 15.3-per-cent increase from the same time last year, driven by the sales generated from recent acquisitions.
Net earnings were $17.3-million or 41 cents per share compared to $15.7-million or 37 cents per share last year.
Analysts were expecting sales of $328.2-million and earnings of 39 cents per share in the most-recent quarter.
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Canfor Corp. (CFP-T) reported third-quarter net income of $50.9-million, or 38 cents per share, compared to a net loss of $17.3-million, or 13 cents per share, a year earlier. Sales were $1.1-billion, down from $990-million for the same quarter last year.
Analysts were expecting sales of $817.7-million and earnings of 26 cents per share.
"We had another solid quarter in our lumber business, benefiting from both increased prices across most grades and productivity improvements, particularly for our recently acquired mills where the performances continue to exceed our expectations," stated CEO Don Kayne.
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Canfor Pulp Products Inc. (CFX-T) reported third-quarter net income of $22.4-million, or 34 cents per share, versus $31.2-million, or 45 cents per share, for the third quarter of 2015. Sales were $291.6-million versus $294.1-million a year earlier.
Analysts were expecting sales of $199.5-million in the quarter and earnings of 24 cents per share.
CEO Don Kayne said the company delivered "solid financial results for the third quarter, following a return to more normal operating levels after the significant scheduled maintenance outages taken in the previous quarter."
He also said, "Looking ahead, with new pulp capacity forecast to come on line there is risk of downward pressure on pricing."
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AlarmForce Industries Inc. (AF-T) says it expects to report results of an ongoing review of its revenue recognition practices related to cancelled customer contracts by the end of the third week of November.
Its board has also struck an independent special committee "to assess the company's internal control environment."
It said the review of its revenue recognition practice "has made significant progress," but that "further work is still required before it can be determined whether any restatement of AlarmForce's historical financial statements will be required and when it will be in a position to file its financial statements for the third quarter of fiscal 2016."
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Acadian Timber Corp. (ADN-T) reported third-quarter sales of $19.3-million compared with $22.6-million a year ago.
Net income was $2.8-million, or 17 cents per share, compared to a loss of $2.8 million, or 17 cents per share, for the same period in 2015.
"The increase is primarily due to lower non-cash fair value adjustments to our timberlands as a result of lower harvest volumes," the company said in a release.
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Calfrac Well Services Ltd. (CFW-T) reported third-quarter revenue of $174.9-million, a decrease of 39 per cent from the same period in 2015.
The company said its fracturing job count dropped 36 per cent "mainly due to lower activity in Canada and the United States."
Its net loss was $40.9-million or 35 cents per share, compared to a net loss of $24.2-million, or 25 cents per share, in the same period last year.
Analysts were expecting revenue of $134.7-million and a loss of 24 cents per share.
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Canam Group Inc. (CAM-T) reported third-quarter revenue of $485.3-million, up from $432.1-million a year ago.
Net income attributable to shareholders was $8.8-million, or 19 cents per share, compared to $14.5-million, or 35 cents, for the third quarter of 2015.
Analysts were looking for revenue of $357.1-million and earnings of 13 cents per share.
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Magellan Aerospace (MAL-T) says an annual contract with BAE Systems for F-35 assemblies is being extended for two years, which is valued at more than $70-million.
Magellan said it has been working with BAE Systems to produce horizontal tails for the global F-35 program for almost a decade.
"This contract represents significant quantities of horizontal tails awarded to Magellan in the ramping up to full scale production. The ability to meet the increased annual volumes is an essential element of achieving F-35 program objectives in support of our customer's global obligations," stated Magellan CEO Phillip Underwood.
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CRH Medical Corp. (CRH-T; CRHM-N) reported third-quarter revenue of $22.1-million (U.S.), up 90 per cent from $11.6-million a year ago. Analysts were expecting revenue of $19.9-million.
Net income was $5-million, up from $1.7-million a year ago.
"During the third quarter, we successfully completed the integration of the three acquisitions announced in June, 2016. Our pipeline remains strong and we have taken meaningful steps to identify the human resources required to support operational and growth initiatives," said CEO Edward Wright.
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MEG Energy Corp. (MEG-T) reported an operating loss of $88-million for the third quarter of 2016, compared to an operating loss of $87-million in the same period of 2015.
Revenue was $497-million, compared to $460-million a year ago.
Its net loss was $109-million or 48 cents per share, compared to a loss of $428-million $1.90 per share a year ago.
Analysts were expecting a loss of 23 cents in the most recent quarter.
The company also said its 2016 capital program has been revised downwards to $140-million from the original budget of $328-million.