SMART Technologies Inc. , a provider of collaboration solutions, said its third-quarter GAAP net income was $10.9-million or $0.09 per share down from $12.5-million or $0.10 per share in the previous quarter, largely due to the decrease in gross margin and restructuring costs. Adjusted net income was $16.7-million or $0.14 per share, up from $15.9-million or $0.13 per share. Total revenue was $185.1-million, an increase of 2 per cent.
Heroux Devtek Inc. , which gained more than 1 per cent on Thursday, today reported its results for the third quarter of fiscal 2012. Net income increased 33.8 per cent to $6.9-million, or $0.23 per share, fully diluted, from $5.2-million, or $0.17 per share, fully diluted, a year ago. Consolidated sales for the Quebec-based manufacturer of aerospace and industrial products in the third quarter were $93.4-million, an increase of 8.8 per cent from $85.8-million for the same period last year.
Horizon North Logistic Inc. , which is trading near year highs, announced that it has entered into a contract for the provision of a new 600 person camp for an oil sands project near Fort McMurray, Alberta. The contract term is for 27 months. Revenues over the term of the contract are expected to be approximately $40-million with associated capital investment amounting to approximately $27-million.
CE Franklin Ltd. , which rose more than 5 per cent to close at $8.80 yesterday, reported net earnings of $4.5-million or $0.26 per share (basic) for the fourth quarter ended Dec. 31, 2011, a significant increase from net earnings of $1.6-million or $0.09 per share (basic) generated in fourth quarter 2010. Revenue grew 14 per cent, but it forecast only modest revenue growth for 2012.
Azure Dynamics Corporation announced 45 new Ford Transit Connect Electric sales, including 20 units in Europe and 25 units in North America, which includes six initial units through the General Services Administration via Northside Ford in San Antonio, TX, a four unit order from Verizon and a four unit order from an internet company.
blutip Power Technologies Ltd. announced late yesterday that Peter Williams will assume the role of Executive Chairman of the company effective immediately. Additionally, the company announced that Dean Dussias had resigned his position as Director, Interim CEO, COO & CFO effective immediately. The company said it has begun a search for a CEO candidate and will also seek to fill a role within the Board of Directors in conjunction with the Annual General Meeting of Shareholders.
Gryphon Gold Corporation announced today the termination of employment of John L. Key, Chief Executive Officer, who has also resigned as a director. James T. O'Neil Jr. steps in as interim Chief Executive Officer and member of the board. The company also reported the termination of employment by mutual agreement of John K. Key, General Manager of Borealis Mining Company, its wholly-owned subsidiary.
Online Energy Inc. announced today that total proved plus probable reserves (P+P) was 1,444 Mboe (44 per cent crude oil and natural gas liquids), 87 per cent of which are categorized as producing. Reserve net present value before tax 10 per cent of P+P reserves was $13.6-million.
Biotechnology company Medicago Inc. today announced that it plans to invest approximately $4-million to enhance the capacity of the pilot production facility located in Quebec City. The company said it expects this investment to accelerate preclinical and clinical development timelines of future product candidates.
Boxxer Gold Corp. provided an update on corporate activities on its now 100 per cent owned Buena Vista copper-gold project in north central Nevada. Highlights: Boxxer has purchased a 100 per cent working interest from its partners in the Buena Vista project, and surface exploration of the Buena Vista project is expected to get underway by the end of February, 2012.