Our roundup of Canadian small-caps in the news today.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Crius Energy Trust (KWH.UN-T) reported revenue of $269.9-million (U.S.) in the third quarter, which was up 21 per cent versus $222.6-million in the third quarter of 2016. Analysts were expecting revenue of $271.6-million.
Adjusted EBITDA of $18.3-million in the third quarter was down from $20.6-million a year ago.
"The decrease in adjusted EBITDA for the third quarter of 2017 was primarily attributable to lower average usage per customer due to mild weather conditions experienced in the third quarter together with decreased gross margin per unit resulting from the above-mentioned customer portfolio mix," the trust stated.
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Frontera Energy Corp. (FEC-T) reported third-quarter sales of $307.1-million (U.S.), down from $308.7-million for the same quarter last year. Analysts were expecting sales of $324.5-million.
Its net loss of $141.1 million or $2.82 per share compared to a loss of $557.1-million a year earlier.
Adjusted funds from operations came in at $47.9-million versus $43-million a year ago.
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Step Energy Services Ltd. (STEP-T) is raising $65-million in a secondary offering of common shares.
Step says the limited partnerships including ARC Energy Fund 6 and ARC Energy Fund 8 have entered into an agreement with a syndicate of underwriters to purchase on a bought deal basis 5.3 million shares at $12.25 each. Step said it will not receive any proceeds from the offering.
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Mountain Province Diamonds Inc. (MPVD-Q; MPVD-T) reported third-quarter sales of $65.2-million versus nil a year ago.
"Included in sales reported for the quarter are the results of two diamond tenders that were conducted," the company said.
Its net income was $27.7-million or 17 cents per share, above expectations of 10 cents and compared to a loss of $5.4-million or 3 cents a year earlier.
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Callidus Capital Corp. (CBL-T) reported third-quarter revenue of $54.5-million, which was up from $38.6-million in the third-quarter 2016.
It said the increase was "primarily due to the timing of the consolidation of both Bluberi Gaming Technologies Inc. in first-quarter 2017 and Otto Industries North America Inc. in second-quarter 2017."
Its net loss was $17.6-million or 35 cents per share compared to net income of $5.2-million or 10 cents in the prior-year period.
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Stelco Holdings Inc. (STLC-T), which recently went public, reported third-quarter revenue of $336-million, a decrease from $373-million for the same period in 2016 "largely as a result of the blast furnace outage."
Adjusted EBITDA came in at $7-million, a decrease of $58-million from adjusted EBITDA of $65-million in the third quarter of 2016. "The year-over-year change reflects the decrease in revenue, largely due to the current year's blast furnace outage, and increases in operating and selling, general and administrative expenses," the company stated.
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Ballard Power Systems (BLDP-Q; BLDP-T) says it has signed an agreement, valued at $9-million, with Siemens AG to develop zero-emission fuel cell engine to power Siemens' Mireo light rail train.
Ballard will develop a 200 kilowatt fuel cell engine for integration into Siemens' new Mireo train platform.
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Hardwoods Distribution Inc. (HWD-T) said third-quarter revenue increased 9 per cent to $257.3-million versus the same quarter last year, including contributions from acquisitions. Analysts were looking for revenue of $267.2-million.
Profit was $7.3-million or 34 cents per share versus profit of $7.3-million or 35 cents last year.
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Enercare Inc. (ECI-T) reported third-quarter revenue of $326-million, a 3-per-cent increase over the same period in 2016.
Net earnings were $20.2-million or 19 cents per share compared to $19.3-million or 19 cents a year ago.
Analysts were expecting revenue of $330.1-million and earnings of 20 cents per share.
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Boston Pizza Royalties Income Fund (BPF.UN-T) and Boston Pizza International Inc. reported total revenue of $12-million in the third quarter, in line with expectations and up from $11.9-million a year ago.
System-wide sales were $286.7-million up from $281.5-million a year ago. Same-store sales growth grew 0.4 per cent year-over-year.
Net income was $5.4-million or 2 cents per diluted unit compared to $10.5-million or 52 cents for the third quarter of 2016.
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NYX Gaming Group Ltd. (NYX-X) reported revenue of $58.5-million in the third quarter, which it said was an increase from 7.7 per cent last year.
Its net loss was $11-million versus net income of $41.6-million a year ago. Adjusted EBITDA came in at $17.4 million versus $14.5-million a year earlier.
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MedReleaf Corp. (LEAF-T) says it's raising $100.5-million in a bought-deal financing.
It has an agreement with GMP Securities L.P., on its own behalf and on behalf of a syndicate of underwriters, to buy 6.1 million common shares at $16.55 each from a group of selling shareholders.
The net proceeds will be used to "finance the acquisition and/or construction of additional cannabis production and manufacturing facilities in Canada as well as in other jurisdictions with federal legal cannabis markets, where warranted by the opportunities available to MedReleaf, and the expansion of the company's marketing and sales initiatives."
The company said will not receive any of the net proceeds from the shares being offered by the selling shareholders.
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DHX Media Ltd. (DHX.A-T;DHX.B-T) says it earned $8.1-million in its latest quarter as its revenue was boosted by its acquisition of the Peanuts and Strawberry Shortcake characters earlier this year.
The company says the profit amounted to six cents per share compared with a profit of $1.4-million or a penny per share a year ago.
Revenue in what was the first quarter of the company's 2018 financial year grew to $98.6-million compared with $53.8-million in the same quarter last year.
DHX added Peanuts and Strawberry Shortcake earlier this year to its library of brands which already included Teletubbies, Inspector Gadget and Degrassi.
The company says it is on track to realize its target of $11-million in total annualized acquisition-related synergies and cost reductions by the end of its 2019 financial year.
Last month, DHX launched a review of strategic alternatives, including the possible sale of the company.
--The Canadian Press
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New Look Vision Group Inc. (BCI-T) reported record revenues of $55.2-million in the third quarter, up from $49-million a year earlier.
"The revenue increase was mainly due to the net addition of 19 stores in the last 12 months as well as same-store sales growth of 0.9 per cent over last year," the company stated. "This revenue growth as well as significant improvement in operating expense ratios resulted in the strong adjusted EBITDA performance."
Net earnings attributed to shareholders were $3.4-million or 25 cents per share, compared to $2.1 million or 15 cents last year.
It said the increase was "mainly due to higher revenues, controlled expense growth, and lower equity-based compensation."
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Goldmoney Inc. (XAU-T), a precious metal financial service and technology company, reported revenue of $126.3-million in its second quarter, versus $140.4-million year ago.
Its loss was a penny per share versus a loss of 2 cents a year earlier.
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Dream Unlimited Corp. (DRM-T) reported third-quarter revenue of $115.3-million up from $53.9-million a year ago.
Earnings were $19.1-million or 17 cents per share compared to $16.8-million or 15 cents a year earlier.
Analysts were looking for earnings of 15 cents in the latest quarter.
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MTY Food Group Inc. (MTY-T) is buying The Counter and Built restaurant brands based in the U.S. for an undisclosed price.
MTY said one of its wholly-owned subsidiaries has signed an agreement to acquire all of the limited liability company interests in CB Franchise Systems, LLC, Built Franchise Systems, LLC and certain of their affiliates.
"Since the acquisition of Kahala Brands in July 2016, MTY has been seeking potential additions to its strong portfolio of brands," stated chairman and CEO Stanley Ma. "The Counter and Built fit that perfectly, offering trendy hamburgers and other craveable foods to uncompromising customers, focusing on superior quality and spot-on execution, creating memorable experiences for its guests."
The Counter and Built networks currently combine for 41 franchised locations and three corporate-owned locations. Of those 44 restaurants, 34 are located in the U.S., one is located in Canada and nine are located overseas, MTV said.
"The acquisition of The Counter and Built represents another major milestone for MTY as it solidifies its presence in the United States and confirms MTY's appetite for good quality acquisition opportunities," the company stated.