Iamgold mining operation in Rouyn Que.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Iamgold Corp. (IMG-T, IAG-N) reported first-quarter revenue from continuing operations of $219.7-million (U.S.), down 10 per cent from a year earlier, due to lower sales volume at two mines and a lower gold price.
Analysts were expecting revenue of $224.2-million for the most recent quarter.
Net earnings from continuing operations was $53.1-million or 13 cents per share, compared to a loss of $16.5-million or 4 cents per share a year earlier.
Its adjusted net loss from continuing operations was $7.3-million or 2 cents per share, down from an adjusted loss of $29.5-million or 8 cents per share a year earlier.
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Westshore Terminals Investment Corp. (WTE-T) reported first quarter revenues of $82.2-million, which beat analysts' expectations of $80.7-million and is down from $86.4-million a year earlier.
Profit was $31.8-million, after tax, or 43 cents per share. That compared to profit of $32.2-million or 43 cents last year.
Tonnage shipped for the quarter ended March 31 was 6.8 million tonnes, compared to 7.9 million tonnes for the same period in 2015.
Of the tonnes shipped in the first quarter, 71 per cent was metallurgical coal and 29 per cent was thermal coal, compared to 64 per cent and 36 per cent respectively for the same period in the prior year, the company said.
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Parkland Fuel Corp. (PKI-T) reported net earnings of $24.9-million or 26 cents per share. That compared to net earnings of $19.8-million or 24 cents a year earlier.
Revenue was $1.3-billion, below analysts' expectations of $1.7-billion and down from $1.4 billion a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization rose 4.5 per cent to $59.7-million.
"This strong performance helped offset the warmer weather in Eastern Canada and the sustained economic slowdown in Western Canada demonstrating the resiliency of our cash flow and strength of our diversified business model," stated CEO Bob Espey in a release.
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Pengrowth Energy Corp. (PGF-T, PGH-N) reported first quarter adjusted net income of $500,000 compared to a profit of $64.8-million a year earlier.
Funds flow from operations was $106.2-million, down from $113-million a year earlier, the company said.
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Carmanah Technologies Corp. (CMH-T) says it has reached a mediated settlement in its lawsuit launched in March 2015 against Royal & Sun Alliance Insurance Company of Canada (RSA) and Integro (Canada) Ltd.
"The settlement results in a lump sum payment to the company of $0.5 million for past defense costs," the company said. "Further, RSA has agreed to cover 70 per cent of future defense costs."
It said there's an underlying lawsuit that could lead to the "reallocation of the go-forward defense costs."
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Gamehost Inc. (GH-T) has closed its casino in Fort McMurray, Alta. as a result of a wildfire burning in the area
"As a precaution, and in support of employees whose residences are now under mandatory evacuation notices, the company is temporarily closing Boomtown Casino until further notice," the company said.
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Firm Capital Mortgage Investment Corp. (FC-T) reported a profit of $5-million in the first quarter, up 3 per cent from $4.8-million a year earlier.
The profit per share was 24.6 cents, compared to 24 cents a yer ago.
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MDC Partners Inc. (MDCA-Q) says first quarter revenue rose 2.3 per cent to $309-million, which was below analysts' expectations of $323.4-million according to Thomson Reuters.
Its net loss attributable to MDC Partners was $23.3-million or 47 cents per share versus $32.1-million or 52 cents in the same period last year.
The company also said it has amended its revolving credit facility, "which among other benefits extends the maturity date by almost two years to May 3, 2021, reduces the base borrowing interest rate by 25 basis points, and provides the ability to borrow in certain foreign currencies to support the company's global expansion."
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Solium Capital Inc. (SUM-T) says first-quarter revenue rose 3 per cent to $25.4 million compared to a year earlier.
The company, which provides cloud-enabled services for financial reporting, said net earnings fell 57 per cent to $1.8 million. Adjusted earnings before interest, taxes, depreciation and amortization fell 32 per cent to $4.4-million in the first quarter of 2016.
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Echelon Financial Holdings Inc. (EFH-T) is suspending its quarterly dividend "until further notice" after reporting a loss in the first quarter.
"This decision provides the opportunity to retain capital for future Canadian growth initiatives," the company stated.
The property and casualty insurance company reported a net loss attributable to shareholders of $4.4-million, or 38 cents per share, for the three months ended March 31. That compares to a profit of $3.2-million or 17 cents per share a year earlier.
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Russel Metals Inc. (RUS-T) reported first-quarter revenue of $663 million, down from $904-million a year earlier.
Analysts were expecting revenue of $699.8-million in the most recent quarter.
Net income was $8-million or 13 cents per share compared to $19-million or 30 cents a year earlier.
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Cardinal Energy Ltd. (CJ-T) reported a first quarter net loss of $15.6-million or 24 cents per share, compared to a loss of $12.8 million or 22 cents a year earlier.
Revenue was $33.4-million, down 13 per cent from $33.4-million. Analysts were looking for revenue of $35.5-million in the most recent quarter.
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Torstar Corp. (TS.B-T) reported a net loss from continuing operations of $53.5 million or 66 cents per share in the first quarter of 2016. This compares to a net loss of $500,000 or a penny per share for the same time last year.
"The first quarter of 2016 included $27.6-million of additional non-cash amortization and depreciation expense associated with our investment in VerticalScope as well as $22.4 million of restructuring charges and $4.8-million of additional non-cash amortization and depreciation expense of equipment related to the transition of printing of the Toronto Star to Transcontinental Printing," the company said.
Its adjusted net loss was 40 cents per share in the quarter ended March 31, down from adjusted EPS of 42 cents a year ago. The Street was expecting a loss of 21 cents.
Operating revenue was $156.7-million after adjustments, down from $181.2-million a year earlier.
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Gibson Energy Inc. (GEI-T) said first quarter revenue fell 31 per cent to $959 million, compared to $1.4-billion a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization for the three months ended March 31, dropped 35 per cent to $74-million compared to $114.6-million a year earlier
Its net income was $44-million, up from a loss of $20.5-million a year earlier.
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Rogers Sugar Inc. (RSI-T) reported revenues of $161.6-million in the first quarter, an increase from $152.6-million a year earlier.
Net earnings were $7.7-million or 8 cents per share, compared to $5.8 million or 6 cents per share
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Shopify Inc. (SHOP-N) posted better-than-expected first quarter results and raised its full-year revenue forecast.
The company, which went public in May last year, said it expects full-year revenue of $337-million-$347-million (U.S.), 5.2 per cent higher than its previous estimate.
Shopify has been expanding by striking deals with Amazon.com , giving its clients the options to make sales through the online retailing giant.
However, the company said it expects a bigger 2016 operating loss of $41-million-$47-million, compared with a previous forecast of $36-million-$42-million, due to higher compensation and related expenses.
Excluding these adjustments, the company maintained its expectation for full year adjusted operating loss of $16-million-$22-million.
The company said net loss widened to $8.9-million in the quarter from $6.3-million, in the preceding quarter.
On a per-share basis, net loss attributable to shareholders widened to 11 cents, from 8 cents, in the preceding quarter.
Excluding items, Shopify posted a loss of 6 cents per share, smaller than the average analyst estimate for a loss of 9 cents per share, according to Thomson Reuters I/B/E/S.
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With a file from Reuters