The North West Company Inc. will release its unaudited financial results for the fourth quarter ended Jan. 31, 2012, today. In conjunction with this release, North West will host a conference call this afternoon at 3pm EST. North West expects to release its audited financial statements for the year ended Jan. 31, 2012 on April 9, 2012.
InnVest REIT realized a net loss of $4.3-million in the fourth quarter of 2011 compared to net income of $213.9-million in 2010. The prior year results include a $232.1-million deferred income tax recovery recognized following InnVest's reorganization to a stapled REIT on Dec. 31, 2010. Funds from operations and distributable income improved $1.5-million and $1.4-million, respectively, reflecting the benefit of lower interest charges.
Pure Technologies Ltd. recorded fourth-quarter 2011 revenue of $14.6-million, EBITDA of $3.9-million and profit of $1.4-million. This compares to revenue of $16.5-million, EBITDA of $2.6-million and profit of $2.5-million in 2010. Its stock fell more than 3 per cent yesterday.
AbitibiBowater Inc., doing business as Resolute Forest Products , announced that it has received a favorable decision from the federal Minister of Industry, following his review of the company's proposed acquisition of Fibrek Inc. under the Investment Canada Act. But Fibrek wants to do a deal instead with Mercer International .
Royal Nickel Corporation , which fell more than 5 per cent to near year lows on Thursday, said it incurred a loss of $1.8-million ($0.03 per share) for the three months ended December compared to $4.7-million ($0.07 per share) in the same period last year. The lower loss is primarily due to a decrease in general and administrative expenses of $2.2-million, which reflects a $2.1-million reduction in the share based payments charge.
Freegold Ventures , which gained more than 4 per cent yesterday, said it intersected 0.69 g/t gold over 127 metres Golden Summit Project, Alaska.
Connacher Oil and Gas Ltd.'s which in January signaled intent to seek a buyer, reported fourth-quarter losses of more than double from the previous year, as well as a lowered 2012 production forecast. Fourth-quarter losses were $59.5-million, or 13 Canadian cents a share, up from a loss of $25.6-million, or 6 Canadian cents a share, a year ago. Revenue, net of royalties, rose 29 per cent to $226.5-million on higher oil and 18 per cent higher bitumen prices. The company expects production of 12,600 barrels of oil equivalent per day (boe/d) to 13,900 boe/d. Total production in 2011 averaged 14,493 boe/d.
Stella-Jones Inc. reported a 26 per cent rise in fourth-quarter profit helped by strong demand for its railway ties. Fourth-quarter profit rose to $13.4-million, or 83 Canadian cents a share, from $10.7-million, or 67 Canadian cents a share, a year ago. Sales rose 11 per cent to $147.5-million. Sales of railway ties -- used as a base for railway tracks -- were up 19 per cent at $74.4-million.
Technology service provider NeuLion, Inc. today announced financial results for the three months ended Dec. 31, 2011. The company said revenue decreased by $0.4-million, or 4 per cent, as compared to the same period a year ago. Non-GAAP Adjusted EBITDA loss improved by $0.2-million, or 18 per cent, as compared to the same period a year ago. Consolidated net loss improved by $0.1-million, or 3 per cent, as compared to the same period a year ago.
Vaaldiam Mining Inc. , which was just 4 cents above year lows yesterday, announced today that for the year ended Dec. 31, 2011 it recorded a net loss of $13,247,000 or $0.18 per share compared to a net loss of $6,973,000 or $0.10 per share for the same period in 2010. The company ended the period with a cash position of $4.5-million and working capital of $3.2-million.
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