Canadian patent licensing firm Wi-Lan Inc returned to profit with third-quarter net income of $7.3-million or 6 cents a share, compared with a loss of $6-million or 6 cents per share a year earlier. Adjusted earnings was 18 cents per share versus 1 cent. Revenues were a record $27.8-million representing an increase of 158 per cent over the comparable period last year. Litigation expenses fell to $1.2-million from $6.7-million last year. The board of directors has declared an eligible dividend of $0.025 per common share. This dividend will be paid on January 6, 2012 to shareholders of record on Dec. 15, 2011. However, WiLAN is revising its fiscal 2011 financial guidance based on revenues booked to date and current business indicators. Revenues for the fiscal year ended Dec. 31, 2011 are now expected to be in the range of $105-million to $110-million. Adjusted earnings are now expected to be in the range of $70-million to $75-million.
Canada's NAL Energy Corp reported third-quarter funds from operations of $64.7-million or 40 cents a share, up from $59.7-million or 38 cents a share in the previous corresponding period. Net income also rose by about 30 per cent to $11-million, while revenue was up 10 per cent to $130.4-million. The company also announced that its Board of Directors has declared a monthly dividend of $0.07 per common share payable on Dec. 15, 2011, to shareholders of record on Nov. 22, 2011.
Silicon focused Timminco Limited reported its financial results for the third quarter ended Sept. 30, 2011. The company said consolidated net loss was $2.4-million or $0.01 per share, down sharply from the previous year's $34-million or $0.17 per share. CEO Douglas Fastuca reportedly commented "Our financial results for the third quarter reflect continuous operation of the silicon metal production facility throughout the quarter and higher realized selling prices for our silicon metal product lines in the context of stable demand. We are firmly focused on improving the profitability of our silicon metal operations and have undertaken multiple initiatives to both reduce cost and explore potential capacity expansion opportunities."
Timmins Gold Corp reported second-quarter net profit of $3.6-million or 3 cents a share, compared with a loss of $803,714 or 1 cent a share in the previous corresponding period. Metal revenues in Q2 2012 were $28.2-million, compared to $19.6-million in Q2 2011. This represents a 44 per cent increase over the prior year. Timmins produced 17,287 ounces of gold and sold 16,917 ounces of gold during Q2 2012, compared to gold produced and sold during Q2 2011 of 15,682 ounces. This represents a 10 per cent increase in gold production over last year. The company's cash cost per ounce in Q2 2012 was $600 ($574 for the six months ended Sept. 30, 2011), compared to a cash cost per ounce in Q2 2011 of $515 ($589 for the six months ended Sept. 30, 2010).
Packaging industry player Intertape Polymer Group Inc. , which lost a total of 8 cents in edging away from a year high $2.95 over the first two days of this week, after the close of trading yesterday said adjusted net earnings were $3.8-million or $0.06 for the third quarter of 2011 as compared to an adjusted net loss of $2-million or $0.03 for the third quarter of 2010. "A more favourable pricing environment combined with our internal initiatives and programs to reduce costs and improve margins generated solid results for the quarter," said CEO Greg Yull. "While some raw material costs have been trending downward in recent months, we expect prices to remain volatile as we enter 2012.
He added: "The company anticipates sequentially lower revenue and lower adjusted EBITDA in the fourth quarter of 2011 which is reflective of normal seasonality. However, both revenue and adjusted EBITDA for the fourth quarter of 2011 are expected to be significantly higher than the fourth quarter of 2010. Gross margins for the next two quarters are expected to be similar to the third quarter of 2011."
Northern Property REIT and NorSerCo Inc. announced late Tuesday its results for the 3 and 9 months ended Sept. 30, 2011. The company said vacancy loss declined to 4.8 per cent compared to 5.3 per cent same quarter last year while funds from operations per stapled unit increased to $1.75 from $1.66 for three quarters last year. Funds from operations payout ratio for nine months declined to 64.8 per cent. Jim Britton, President and CEO, reportedly said "NPR's property portfolio delivered improved financial results in Q3. Our overall vacancy rate had been stalled at the 5 per cent level for the first two quarters of 2011 but began to improve late in the third quarter. This, coupled with seasonally low operating costs contributed to the REIT reaching a record quarterly $0.628 FFO per unit."
Davis + Henderson Corporation said adjusted net income was $26.2-million ($0.4429 per share) for the third quarter of 2011. There is no comparable measure for the same period in 2010. Net income was $15.1-million ($0.2542 per share), a year-over-year decrease of $3.6 -million, or 19.4 per cent, compared to $18.7-million ( $0.3512 per unit) for the same quarter in 2010. It said: "This change reflected the positive contribution from acquisitions and also the impacts related to acquisition-related items, the change in taxation with the conversion to a corporation in January 2011 and a non-cash, unrealized mark-to-market loss related to reduced interest rates occurring during the third quarter of 2011." The company also announced that its board of directors declared a quarterly dividend of $0.31 per common share payable on Dec. 30, 2011 to shareholders of record at the close of business on Nov. 30, 2011.
Artis Real Estate Investment Trust issued its financial results and achievements for the three months ended Sept. 30, 2011. It increased Q3 2011 FFO per unit to $0.31, representing an 29.2 per cent increase compared to Q3 2010 and a 6.9 per cent increase compared to Q2 2011. It increased year-over-year FFO per unit by 15.8 per cent to $0.88. Artis late yesterday also provided an update on the status of internalization of the asset management and property management functions.
Goldstrike Resources Ltd. announced today that first pass exploration has resulted in the discovery of two drill ready gold targets on its Livingstone gold property. The newly discovered zones appear to be potential sources for the coarse placers that are actively being mined downstream. The company said one of the zones produced a grab sample that returned 8,226.5 parts per billion (8.2265 grams per tonne/0.24 ounces per ton) gold from a structure that is over 600 meters long and 70 meters wide. The other zone produced a grab sample that returned 802 parts per billion (0.802 grams per tonne) from a structure over 400 meters long.Report Typo/Error
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- Wi-LAN Inc$3.22-0.16(-4.73%)
- Timmins Gold Corp$0.46+0.01(+2.22%)
- Intertape Polymer Group Inc$20.58+0.04(+0.19%)
- DH Corp$31.19-0.92(-2.87%)
- Artis Real Estate Investment Trust$13.10-0.05(-0.38%)
- Goldstrike Resources Ltd$0.18+0.01(+2.94%)
- Updated June 27 3:49 PM EDT. Delayed by at least 15 minutes.