Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Trucking and logistics company Mullen Group Ltd. (MTL-T) says first-quarter revenue decreased by $65.5 million, or 19.4 per cent, to $271.7 million as compared to $337.2 million in 2015.
Analysts were looking for revenue of $277.2 million in the latest quarter ended March 31.
Mullen Group said the drop was due to a $58.4-million decline in revenue in the oilfield services segment and a $6.2-million decrease in the trucking/logistics segment.
"While I am not happy with our financial performance in the first quarter, I am satisfied that we achieved the very best results we could given the macro environment. All one can really do in situations like this is right size your organization and patiently wait for market conditions to improve," CEO Murray Mullen said in a release.
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Granite Real Estate Investment Trust (GRT.UN-T) announced a Normal Course Issuer Bid (NCIB) of up to 3.6 million of its issued and outstanding stapled units (each stapled unit consisting of one trust unit of Granite REIT and one common share of Granite GP), or about 10 per cent of its public float.
As of April 20, it had 47 million stapled units issued and outstanding.
The NCIB will start on April 26 and be open for a year.
"The Granite board believes that the proposed purchases are in the best interests of Granite and are a desirable use of Granite's funds. All stapled units that are purchased under the NCIB will be cancelled," the company said.
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Helix BioPharma Corp. (HBP-T) announced the appointment of Patrick Frankham as chief operating officer and the promotion of Steve Demas as chief medical officer.
"Dr. Frankham and Mr. Demas will both report directly to Dr. Sven Rohmann, Helix's newly appointed chief executive officer," the company stated.
Mr. Frankham has over 20 years' experience in the pharmaceutical, biopharmaceutical and services industries and has held leadership roles as Boehringer Ingelheim, ICON Clinical Research Canada Inc. and Aeterna Zentaris Inc.
Mr. Demas has been with the company since April 2013 as director, clinical operations.
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Celestica Inc. (CLS-T) reported an improved first-quarter profit compared with a year ago, helped by higher revenue and better operating margins.
The contract electronics manufacturing company, which keeps its books in U.S. dollars, says it earned $25.6 million (U.S.) or 18 cents per share, up from $19.7 million or 11 cents per share a year ago.
Revenue grew to $1.35 billion, up from nearly $1.30 billion in the first quarter last year.
On an adjusted basis, the company said it earned $37.6 million or 26 cents per share for the quarter, up from an adjusted profit of $33 million or 19 cents per share in the same quarter last year.
Celestica's operating margin improved to 3.3 per cent, compared with 3.1 per cent in the first three months of 2015.
In its outlook, the company said it expected revenue in the range of $1.4 billion to $1.5 billion for the second quarter. Adjusted earnings per share was expected to be in the range of 25 to 31 cents.
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Chartwell Retirement Residences (CSH.UN-T) says it's buying the 127-suite Lord Lansdowne Retirement Residence in Ottawa for $68.4-million.
The price includes a $22.1-million mortgage with an interest rate of 4.56 per cent, maturing March 1, 2020, with the balance to be paid in cash.
"The Lord Lansdowne strengthens our presence in the Ottawa market, where we already own 10 residences representing over 1,100 suites, allowing for improved operating and marketing synergies," stated CEO Vlad Volodarski, Chartwell's chief financial officer.
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Spin Master Corp. (TOY-T) is buying the Toca Boca and Sago Mini companies from the Bonnier Group of Sweden.
Toca Boca is a play studio that makes digital toys for kids aged 3-9. Sago Mini creates mobile apps for kids aged 2-5.
"The acquisition of Toca Boca and Sago Mini, with their strong brand presence, allows Spin Master to develop a leadership position in the mobile app space for kids and rounds out our ability to entertain kids in both the physical and digital world" stated co-CEO Ronnen Harary. "Older kids content consumption patterns have shifted to mobile devices and we want to be where the kids are."
No financial details were disclosed in the release.
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Aura Minerals Inc. (ORA-T) has suspended operations at its San Andres gold mine in Honduras after it says about 20 people entered the mine unlawfully and "forcefully" disrupted normal operations.
"The company believes that the views of the unauthorized individuals do not represent those of the majority of the communities surrounding San Andres," It said in a release.
"As a result of the forceful disruption and subsequent suspension of operations, the permanent employment of approximately 1,000 direct and indirect local employees and contractors has been suspended until such time as the situation is resolved."
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With files from The Canadian Press