Junior miner Hathor Exploration rose 9 per cent and hit a new record high of $4.88 yesterday after uranium giant Cameco Corp. increased its hostile bid for it to $4.50 per share in cash, valuing the company at $625-million. Cameco's higher offer represents an 8.4 per cent increase from Rio's keenly received $4.15 per share bid of last month.
Canadian Helicopters Income Fund , which rose 30 cents Monday, last night released its third-quarter results showing revenue growth of 55.8 per cent to $85.4-million, including $11.3-million from Helicopters (N.Z.) Limited and adjusted net income of $20.5-million, or $1.56 per share, up from $14.2-million in Q3 2010. The fund also announced that its Board of Directors has declared monthly dividends of $0.091875 per Common Share and Variable Voting Shares, payable on each of Feb. 15, 2012, Mar. 15, 2012 and Apr. 13, 2012 to holders of record at the close of business Jan. 31, 2012, Feb. 29, 2012 and Mar. 30, 2012, respectively.
ProMetic Life Sciences Inc , which yesterday edged closer to a year low 9.5 cents, last night reported its financial results for the third quarter of 2011. Third-quarter revenues of $3.3-million compared to $2.1-million in third-quarter 2010; 2011 third-quarter product revenues of $2.7-million compared to $0.1 million in the previous quarter; Net Loss of $2.1-million in third-quarter 2011 compared to $2.9-million in third-quarter 2010; In excess of $5-million in new product orders was received.
Auto parts manufacturer Martinrea International Inc , which gained 17 cents in total over the last two full trading days, last night said gross margin percentage for the third quarter of 2011 of 10.9 per cent increased by 1.3 per cent as compared to the gross margin percentage for the third quarter of 2010 of 9.6 per cent. Excluding a one time item recorded as cost of sales in the third quarter of 2010, the gross margin percentage for the third quarter of 2011 increased to 10.9 per cent from 9.7 per cent for the third quarter of 2010.
The company's gross margin for the third quarter of 2011 was positively impacted by the addition of the acquired operations of Honsel. Excluding the operations of Honsel, Martinrea's gross margin percentage for the third quarter of 2011 would have been 9.5 per cent, a slight decrease over the third quarter of 2010, on account of a significant increase in tooling revenue, which typically earns low or no margins for the company, $0.7-million of pre-operating costs at the company's new facility in Silao, Mexico and an increase in launch activity during the quarter predominantly at the company's Shelbyville, Kentucky facility which negatively impacted earnings and gross margin during the quarter by approximately $1.8-million. Excluding these items and the negative impact tooling revenue has on gross margin percentage, the company's gross margin percentage for the third quarter of 2011, without Honsel, would have been approximately 10.7 per cent on account of higher North American light vehicle production volumes.
Angiotech Pharmaceuticals Inc. today announced that it released its financial results for the third quarter ended Sept. 30, 2011. On May 12, 2011 it emerged from creditor protection proceedings under the Companies' Creditors Arrangement Act (Canada) with the Supreme Court of British Columbia. The company adopted fresh start accounting. As such, material adjustments resulting from the reorganization and application of fresh-start accounting were applied to the company's May 1, 2011 consolidated balance sheet and the consolidated statements of operations for the four months ended April 2011.
Dia Bras Exploration Inc. , which closed yesterday's session 6 cents below its 50-day average $2.40, announced today that exploration drilling from the surface at Promontorio mine combined with underground channel and bulk samples from drifting in the Promontorio mine continue to identify wide zones of disseminated silver mineralization, confirming the discovery of a new zone with large tonnage potential. The underground channel sampling has returned bonanza grades of silver and underground bulk sampling from drifting in the disseminated zone has also returned significant grades of silver.
High Arctic Energy Services Inc. announced today its financial results for the third quarter of 2011. The provider of specialized oilfield equipment and services said it ended the quarter with net income of $3-million or 7 cents per share after revenues increased 1 per cent to $29.3-million. Cash flows provided by operations increased by $0.2-million to $6-million compared to $5.8-million in the third quarter of 2010.
Gran Colombia Gold Corp. announced late Monday its financial results for the 3 months ended Sept. 30, 2011. The company said it ended the quarter with a loss of $3.8-million or 1 cent per share, a sharp improvement from the previous year's $33.7-million or 27 cents per share. Revenues increased to $38.8-million in the quarter.
Redknee Solutions Inc. , a provider of business-critical billing and charging software and solutions, announced today that it has signed a multi-year, multi-million dollar term license contract with ITS Communications, Inc., a leading Japanese triple-play service provider that will replace its legacy billing solution. The company said the new licensing deal marks its entry into the Japanese market, the largest communications market in Asia Pacific and the second largest in the world.
Avion Gold Corporation , which was at its 20-day average $2.18 at yesterday's close, announced today its financial results for the third quarter ended Sept. 30, 2011. The company said it had earnings of $7.2-million, or $0.02 per share for the quarter, as compared to $14.4-million in earnings, or $0.04 per share for the comparable quarter last year. The decrease in earnings is primarily related to a provision of $4.2-million for taxes relating to in country employee benefits and other statutory obligations for prior periods being charged to mineral and processing costs for the period, the company added. Revenues were $36.9-million for the quarter compared to revenues of $31.8-million for the comparable quarter last year, representing a 16 per cent increase.
DHX Media Ltd. , an international family entertainment rights creation and management company, announced today that it has signed 7 new licensing deals for the groundbreaking hit series Yo Gabba Gabba spanning apparel, toys, and trading cards. Michael Polis, President, W!LDBRAIN Entertainment and EVP, Branded Entertainment & Consumer Products, DHX Media, said: "Our carefully selected list of licensees ensure that fans of all ages will continue to enjoy new and innovative consumer product offerings for years to come.