Newalta Corp.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
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Cott Corp. (COT-N, BCB-T) says it's buying S&D Coffee, Inc., a coffee roaster and provider of coffee and tea to the foodservice, hospitality and office segments in the U.S., for $355-million (U.S.).
"The S&D acquisition is another great step in our stated strategy to enhance our existing home and office water delivery, coffee, tea and filtration businesses where we believe our platform, operating strength and synergies can be leveraged," stated CEO Jerry Fowden in a release.
Cott also reported second-quarter revenue of $765-million, in line with analysts' expectations of $766.2-million and compared to $779.8-million a year ago.
Net income was $7.4-million or 6 cents per share compared to $2.2-million or 2 cents a year ago.
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Canaccord Genuity Group Inc. (CF-T) reported first-quarter revenue of $206.2-million, a decrease of 3.9 per cent from $214.5-million a year earlier.
Net income was $7.5-million or 4 cents per share compared to net income of $11-million or 8 cents a year ago.
"Despite industry headwinds and the environment of persistent uncertainty leading up to the Brexit referendum, I am pleased to report that we have returned our business to profitability during the first fiscal quarter of 2017," stated CEO Dan Daviau in a release. "We achieved this improved result by managing our business more effectively across our platform, while maintaining a strong client focus in an improving, but still challenging environment."
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Western Forest Products Inc. (WEF-T) reported second-quarter revenue of $301.8-million compared to $289.2-million a year ago.
Analysts were expecting revenue of $236.7-million in the most recent quarter.
Adjusted EBITDA was $43-million in the second quarter, compared to $29.2-million a year ago.
"Improved specialty log and lumber pricing, a stronger commodity lumber market and increased lumber sales volumes delivered a 47 per cent increase in second quarter adjusted EBITDA," the company said in a release.
Net income was $23.8-million or 6 cents per share compared to $19.1-million or 5 cents a year ago.
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Acadian Timber Corp. (AND-T) reported second-quarter sales of $13.7-million down from $15.4-million a year ago.
That beat expectations of $10.6-million in the most recent quarter.
Net income was $5.8-million or 35 cents per share, compared to $5.6-million of 34 cents a year ago.
The company also announced management changes, including the departure of Brian Banfill as chief operating officer effective August 3. "He will continue to be involved in other timberlands businesses managed by Brookfield," the company said in a release.
Its chief financial officer Erika Reilly is also leaving "to take on new responsibilities within Brookfield Asset Management."
Wyatt Hartley will replace Ms. Reilly.
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DIRTT Environmental Solutions Ltd. (DRT-T) reported second-quarter revenue of $61.3-million, up 16 per cent versus the same prior year quarter.
That beat analyst expectations of $47.4-million in the most recent quarter.
Adjusted EBITDA for the quarter was $4.4-million, representing an 89-per-cent increase over a year ago.
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Morneau Shepell Inc. (MSI-T) reported second-quarter revenue of $149.3-million, a 4.8-per-cent increase over a year ago.
Adjusted EBITDA increased by $1.5-million to $29.5-million, or 5.2 per cent versus the same period last year.
Profit was $8.1-million for the quarter, compared to $9.3-million a year ago.
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Newalta Corp. (NAL-T) reported second-quarter revenue of $41.8-million, down 49 per cent compared to prior year.
Analysts were expecting revenue of $31.6-million in the most recent quarter.
"Approximately half of the decline was attributable to Heavy Oil Onsite services, with the remaining balance due to lower production related waste volumes," the company said.
Its net loss in the quarter was $21.6-million compared to prior year of $13.4-million.
"The loss was primarily driven by the net impact of the decline in revenue year-over-year and the corresponding reduction in operating expense," the company said in a release.
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Redknee Solutions Inc. (RKN-T) said third-quarter revenue totalled $40.5-million (U.S.) compared to $46.7-million a year earlier. Analysts were expecting revenue of $44.3-million in the most recent quarter.
Its adjusted EBITDA loss was $1.9-million compared to $5.3-million a year ago.
Its net loss was $12.3-million or 11 cents per share (including a $4.1-million in restructuring costs) compared to a net loss of $5.5-million or 5 cents a year ago.
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Morguard Real Estate Investment Trust (MRT.UN-T) reported funds from operations of $36.4-million in the second quarter as compared to $25.1-million for the same period in 2015. FFO was 57 cents per share, as compared to 40 cents a year ago.
Net operating income from same assets was $40.1-million as compared to $39.6-million for the same period in 2015.
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Kinaxis Inc. (KXS-T) said second-quarter revenue rose 21 per cent to $28.7-million year-over-year. Analysts were expecting revenue of $27.6 million in the most recent quarter.
Adjusted EBITDA was $7.3-million compared to $9.2-million in the same period last year. Profit for Q2 2016 was $3.2-million or 13 cents per share compared to a profit of $5.2-million or 22 cents a year ago.
"The change compared to the prior period was primarily driven by higher sales and marketing costs which were partially offset by the lower Canadian dollar versus the U.S. dollar which had a positive effect on operating expenses and profitability," the company said in a release.
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Surge Energy Inc. (SGY-T) said funds flow from operations was $22.1-million in the second quarter or 10 cents per share compared to $7.5-million or 3 cents a year ago. Total revenue rose 40 per cent year-over-year to $41-million.
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Sandstorm Gold Ltd. (SAND-N, SSL-T) reported second-quarter revenue of $15.7-million compared to $15.4-million a year earlier.
Net income was $5.2-million compared to a loss of $13.4-million a year ago.
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Mediagrif Interactive Technologies Inc. (MDF-T) reported first-quarter of $19-million when compared to $17.7-million a year ago.
Analysts were expecting revenue of $14.4-million in the most recent quarter.
Profit reached $3.7-million or 25 cents per share compared to $3.4-million or 22 cents per share during the first quarter of fiscal 2016.
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Westshore Terminals Investment Corporation (TSX: WTE) reported second-quarter revenue of $73.8-million, down from $92.4-million a year earlier.
Analysts were expecting revenue of $73.8-million.
Profit was $29.2-million or 40 cents per share, compared to $36.5-million or 49 cents per share a year ago.
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Héroux-Devtek Inc. (HRX-T) reported first-quarter sales of $95.6-million compared to $98.3-million a year ago.
Net income was $5.2-million or 14 cents per share compared to $4.5-million or 13 cents a year earlier.
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NeuLion Inc. (NLN-T) reported a loss of $800,000 in the second quarter versus a net loss of $3.2-million a year earlier.
Revenue was $24.1-million compared to $22.7-million for the prior comparable period.