Logs being moved.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Canfor Corp (CFP-T) reported fourth-quarter net income of $38-million, or $0.29 per share, compared to a net income of $1.6-million, or $0.01 per share, for the fourth quarter of 2015.
Adjusted net income for the fourth quarter was $37.7-million, or $0.29 per share, compared to adjusted net income of $7.9-million, or $0.06 per share for the fourth quarter of 2015.
Sales were $1-billion, which was roughly equal to sales in the same quarter a year earlier.
Analysts were looking for sales of $1.1-billion and earnings of 35 cents per share.
"Looking ahead, the U.S. housing market is forecast to continue its gradual recovery through 2017," the company said in a release, adding that " there remains a risk of material antidumping and countervailing duties being imposed on Canadian lumber shipments destined to the U.S., absent a new Softwood Lumber Agreement."
Canfor said it expects marketplace volatility "as investigations progress and determinations are made."
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Canfor Pulp Products Inc. (CFX-T) reported fourth-quarter net income of $10.1-million, or $0.15 per share, compared to $29.7-million, or $0.43 per share, for the fourth quarter of 2015.
Sales were $257.8-million versus $330.8-million a year earlier.
Analysts were expecting sales of $289-million in the most recent quarter.
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Student Transportation Inc. (STB-T) says it has been awarded a new 10-year contract in Jacksonville, Fla. with an existing school district customer. It values the contract at $187-million.
It said the new contract will double the size of its operations there, "making them the company's new largest customer."
The contract starts July 1 and will generate more than $16-million per year in revenue with fixed price increases for nine years. It also includes "live load" fuel reimbursed by the school district, the company said in a release.
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Home Capital Group (HCG-T) reported fourth-quarter net income of $50.7-million or $0.79 per share, compared with $70.2-million and $1 per share a year earlier. Adjusted net income was $63.5-million or $0.98 per share, compared with $71.8-million and $1.02 a year earlier.
Analysts were expecting earnings of $1.01 per share.
"Our performance was muted by lower-than-anticipated retention and renewal levels and elevated expenses," said CEO Martin Reid in a release. "In addition, as a result of the ongoing review of our goodwill and intangible assets, we recorded a goodwill impairment charge of $9-million net of tax reflecting lower expected future profitability of the PSiGate business and an intangible asset impairment of $5.1-million, or $3.8-million, net of tax, related to software development costs."
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Birchcliff Energy Ltd. (BIR-T) reported fourth-quarter funds flow of $71.8-million or $0.27 per share, more than double from $33.7-million or $0.22 per share a year earlier.
Net income was $11.1-million or $0.04 per share, as compared to a net loss of $10.3-million or $0.07 per share a year earlier.
Analysts were expecting earnings of $0.04 cents per share.
"The change to net income positions was largely due to increased funds flow attributable to the production volumes acquired pursuant to the Gordondale acquisition and higher realized oil and natural gas prices in the fourth quarter of 2016," the company said.
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Just Energy Group, Inc. (JE-T;JE-N) reported third-quarter sales of $918.5-million, down 9 per cent from a year earlier, citing a drop in its customer base and lower commodity prices.
Analysts were expecting sales of $1.1-billion.
Gross margin of $174.4-million decreased 3 per cent year over year.
EBITDA (earnings before interest, taxes, depreciation and amortization) was $51.5-million, an 8-per-cent decrease from $55.7-million in the prior comparable quarter, the company said.
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Redknee Solutions Inc. (RKN-T) reported first-quarter revenue of $37.2-million (U.S.) compared to $50.1-million a year earlier.
"The decrease resulted mainly from the impact of lower license revenue due to delays in customer purchasing decisions and overall reduced capital and operating spending in the global communication industry, compared to the same year-ago quarter," the company said.
Its net loss was $6.4-million, or $0.06 per share, compared to a net loss of $4.3-million, or $0.04 per share a year earlier.
"Net loss in the quarter included the $3.2-million breakage fee payable to an affiliate of Constellation Software Inc., for which the obligation was satisfied by ESW Capital as a prepayment to their subscription," it said.
Analysts were expecting a loss of $0.02 per share and revenues of $39.9-million.
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Pure Technologies Ltd. (PUR-T) says its oil and gas pipeline integrity division, PureHM, has recently received $3-million in purchase orders from U.S.-based pipeline companies.
The orders are for inspection work to be executed in the first half of 2017.
"PureHM believes this is an early indication of its U.S. expansion strategy which began in early 2015," the company said in a release.
PureHM also recently signed a contract renewal – valued at $1-million per year for three years – from an energy customer located in B.C.
"Similar renewals are expected in the near future," it said.
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Mullen Group Ltd. (MTL-T) said fourth-quarter revenue decreased 10 per cent to $257.8-million as compared to $287.7-million for the same quarter in 2015.
"This was primarily attributable to a $25.3-million decline in revenue in the Oilfield Services segment and a $4.5-million decline by the Trucking/Logistics segment," the company said.
Analysts were expecting revenue of $277-million for the most recent quarter. Its net loss was $700,000 or a penny per share compared to net income of $2.4-million or $0.03 per share in 2015.
"Quite simply business fundamentals remained difficult in the fourth quarter," said CEO Murray Mullen. "Demand remained our biggest challenge for many of the reasons we have articulated throughout the year. Reduced capital investment, spending and drilling activity by the oil and natural gas industry in western Canada directly impacts the oil and gas service industry, the Alberta economy and, by association, the demand for trucking and logistics services."
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Uni-Select Inc. (UNS-T) reported fourth-quarter sales of $291-million, a 12-per-cent increase from a year earlier, driven by sales generated from recent business acquisitions.
Net earnings were $12.7-million or $0.30 per share compared to $13.9-million or $0.33 per share last year.
"We are pleased with our sales and earnings growth in the quarter," stated CEO Henry Buckley. "In Canada, we returned to positive organic growth with the Prairies strengthening."
Analysts were expecting earnings of $0.31 per share and revenues of $298.7-million.
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Andrew Peller Ltd. (ADW.A-T; ADW.B-T) reported third-quarter sales of $94-million, up 2.5 per cent from a year earlier.
Net earnings increased 14 per cent year-over-year to $8.1-million.
"The third quarter is historically the strongest in each fiscal year due to increased consumer purchasing of the company's products during the holiday season," the company said.
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WiLAN (WIN-T; WILN-Q) reported fourth-quarter revenues of $30.2-million (U.S.), up from $26-million a year earlier.
EBITDA was $17.5-million, or $0.15 per basic share, compared with $12.9-million or $0.11 per basic share a year earlier.
Earnings were $8.6-million, or $0.07 per basic share, compared with $3-million, or $0.02 per basic share a year earlier.
Analysts were expecting earnings of $0.06 cents per share and revenue of $19.8-million.
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Vecima Networks Inc. (VCM-T) reported second-quarter sales of $20.2-million compared to $24.6-million a year earlier.
Net income was $3.8-million or 17 cents per share compared to $6.5-million or 29 cents per share a year earlier.
Analysts were expecting earnings of 16 cents per share and revenue of $22.7-million.
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MEG Energy Corp. (MEG-T) reported a net loss of $304.8-million or $1.34 per share in the fourth quarter, compared to a loss of $297.3-million or $1.32 a year earlier.
Funds flow from operations were $39-million, versus a loss of $63.9-million a year earlier.
Fourth quarter production was 81,780 barrels of oil equivalent per day (bpd) compared to 83,514 bpd for the fourth quarter of 2015.
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Canexus Corp. (CUS-T) says its shareholders voted to approve a takeover by Chemtrade Logistics Income Fund (CHE.UN-T) for $1.65 per common share in cash.
At the vote on Wednesday, 84.5 per cent of the Canexus common shares voted in favour of a resolution approving the arrangement, the company said.
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Coeur Mining Inc. (CDE-N) reported a fourth-quarter net loss of $8.3-million (U.S.), or $0.03 per share. That compared to a loss of $303-million or $2.28 per share a year earlier.
Fourth-quarter revenue was $159.2-million, a decrease of 10 per cent quarter-over-quarter, "driven by lower metal prices," the company said.
Analysts were expecting revenue of $192-million.
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Organigram Holdings Inc. (OGI-X) says its organic certification has been suspended as it undergoes a re-certification process.
"Organigram is working diligently with the certification body to ensure that this process moves as expeditiously as possible," the company said in a release.
"This process will also reflect Organigram's previously communicated intention to produce both organic and non-organic medical marijuana within the same facility."
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