Retailer The Brick Ltd. , which closed down 17 cents or more than 5 per cent on Wednesday, announced its results for the three months ended Sept. 30, 2011. The company said it had $21.2-million pre-tax net income, $6.6-million or 45.3 per cent higher than the previous year's net income of $14.6-million, before taxes and other items. Consolidated sales also rose to $370.9-million by $3.1-million or 0.9 per cent as compared to the same quarter of 2010. Total system sales, including franchise sales at retail, increased 2.5 per cent.
Taseko Mines Ltd gained nearly 4 per cent in Wednesday's U.S. after-market trade after the miner posted Q3 net income of $30.0-million, or 15 cents per share, up from $700,000 in net earnings during the third quarter of 2010.
Analysts, on average, had been expecting Taseko to produce a 9-cent EPS. Earlier this week Canadian federal regulators ruled that Taseko's revised mine plan for its Prosperity copper-gold project in British Columbia will be studied by a federal review panel.
Aurizon Mines Ltd. today reported its unaudited financial results for the third quarter of 2011. The company said its net profit rose to $13.1-million, or $0.08 per share, exceeding net profit of $2.3-million, or $0.01 per share, in the same period of 2010. Results were positively impacted by higher realized gold prices, and expected higher ore grades and ore throughput during the quarter. Revenues for the quarter touched record-high $68.1-million, an increase of 71 per cent from the previous year. Record cash flow from operations was $34.7-million, up 388 per cent from last year.
Auto parts maker Linamar Corp , which ended Wednesday down 82 cents or more than 5 per cent, said adjusted operating earnings for Q3 2011 were $41.2-million. This compares to $25.4-million operating profit for Q3 2010, an increase of $15.8-million. Q3 2011 adjusted operating earnings of $42.7-million for the Powertrain/Driveline segment were higher by $10.3-million from the operating earnings of $32.4-million in Q3 2010. Linamar also announced that the board of directors declared an eligible dividend in respect to the quarter ended Sept. 30, 2011 of $0.08 per share on the common shares of the Company, payable on or after Dec. 9, 2011 to shareholders of record on Nov. 25, 2011. According to a Bloomberg report yesterday, Linamar faces a European Union investigation into 26.65-million euros ($36.5-million U.S.) of German government aid to help it build a new car-parts factory.
Corby Distilleries Ltd , which closed yesterday up 8 per cent at a day high $16.08 compared to a year high $16.75, announced that its board of directors declared a special dividend of $1.85 per share payable to shareholders of record as at the close of business on Dec. 15, 2011. The company also reported its earnings for the quarter ended Sept. 30, 2011. Net earnings increased to $9.5-million or $0.33 per share, compared to $9.2-million or $0.32 per share as a result of the increase in revenue offset by additional marketing and promotional activities as the company carried out its strategy to invest and support its key brands. Revenue increased $2.6-million to $44.2-million, up from $41.6-million achieved during the same quarter last year.
Q3 profit rose 24-fold at Trinidad Drilling Ltd. , rising to $30.1-million while revenues for the oilfield services company grew nearly 18 per cent to $190.75 million. Earnings per share were 19 cents, handedly beating both company expectations and the consensus 15-cent-per-share forecast by analysts. Looking forward, the company said it expects to bring the final two of five new rigs into operation before the end of the year with plans to add five more during 2012. It also is refurbishing four additional rigs.
Jaguar Mining Inc. produced 41,390 ounces of gold and generated $70.0-million in total revenues during Q3, both records, helping the miner to $30-million in cash flow from operations during the quarter. Adjusted net income was $7.4-million, or 9 cents per share, which did not include certain items such as an $27.3-million unrealized loss connected to convertible debt and an $18.6-million loss due to declines in Brazilian real compared with the U.S. dollar along with $12.9-million in other special costs. Including those items, the Q3 net loss at Jaguar was $51.3-million.
Vicwest Inc. last night said it was cutting its quarterly dividend from the 27 cents per share paid in recent quarters to 15 cents per share payable on Jan. 13, 2012. While acknowledging the 44 per cent drop paid to shareholders, the construction products company said the new dividend represents a 7 per cent yield as measured by Vicwest's share price, adding it reaffirms the company's commitment to provide income to shareholders while also leaving enough money for growth initiatives and other corporate needs. Separately, Vicwest reported a $4.5-million Q3 profit on $117.9-million in revenues, up from $3.8-million in net income and $99.2-million in revenues during the year-ago quarter.
Internet domain name-provider Tucows Inc. reported an 18 per cent increase in Q3 revenues to $25.1-million but also saw a year-ago profit turn into a $1.15-million net loss during the three months ended Sept. 30, largely the result of non-cash foreign exchange losses following declines in the fair value of forward exchange contracts.
Peer 1 Network Enterprises Inc. increased Q3 revenues nearly 20 per cent to $31.5-million but was unable to maintain a profit during the quarter, posting a $1.31 net loss, down from $1.04-million in net earnings last year as interest and amortization costs each rose more than $1-million for the Internet-hosting and networking company compared to 2010 levels.
Packaging and paper products company Cascades Inc. said net loss excluding specific items amounted to $5-million ($0.05 per share) in the third quarter of 2011 compared to net earnings of $33-million ($0.35 per share) for the same period of last year. During the period, its net results were significantly impacted by tax adjustments (approximately $7-million, $0.07 per share). Including specific items, the net loss amounted to $19-million ($0.20 per share) compared to net earnings of $24-million ($0.25 per share) for the same quarter in 2010.
Canaccord Financial Inc. , which closed yesterday down nearly 3 per cent and moved closer to a year low $8.32, is scheduled to release its fiscal second-quarter 2012 earnings and supplementary financial information on Nov. 10, 2011, after market close on the TSX.
Connacher Oil and Gas Limited has scheduled an investor conference call for 8am on Friday, Nov, 11, 2011 to discuss its financial and operating results for the third quarter and first nine months ended Sept. 30, 2011. Connacher expects to disclose its third-quarter and first nine months financial and operating results on Nov. 10, 2011.
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