A look at Canadian issues that are moving on early news.
Prism Medical Ltd. (PM-X) reported net income of $1.538-million for the second quarter of 2012 with revenues of $21.9-million. In the same period last year, net income was $1.143-million with revenues of $18.8-million. The company was last trading at $6.30.
Rockwell Diamonds Inc. (RDI-T), which is trading near year lows, reported a first quarter fiscal 2013 loss of $3.0-million after depreciation.
Lithium Americas Corp. (LAC-T) reported a net loss of $0.79-million or $0.01 per share for the three months ending May 31, 2012. This is compared with a net loss of $0.81-million or $0.01 per share in the previous year. The company had $3-million in cash and cash equivalents and positive working capital of $0.5-million.
Russell Breweries Inc. (RB-X) has agreed to terms under a letter of intent for the initial non-exclusive rights to import, produce, package, use, market, sell and distribute Russell brands and branded merchandise with FVI Capital Inc. in China. This initial royalty stream will produce initial gross royalty payments to Russell Breweries Inc. of over $1-million.
Garda World Security Corporation (GW-T), through its subsidiary, has acquired McKinnon Services, a privately held security company based in Quebec City. “This acquisition complements Garda’s strategy of blending organic growth with tuck-in acquisitions in a highly fragmented market,” said Marc-Andre Aube, chief operating officer of Garda Security Solutions.
Calvalley Petroleum Inc. (CVI.A-T), which lost 17 per cent yesterday, announced a corporate update to its previous news release on July 11, 2012. “In light of a number of inquiries received as a result of today’s announcement by DNO International ASA, the company confirms that the Special Committee that was established by its Board of Directors will continue to explore and consider strategic alternatives with the objective of maximizing value for all shareholders.” Norwegian oil and gas company DNO International ASA has decided not to proceed with its hostile takeover bid for Calvalley.
Sterling Resources Ltd. (SLG-X), which lost 3 per cent yesterday, provided an update regarding the anticipated commencement of first production and the latest development cost for the Breagh gas field; news of activities in Romania; and the company’s financial plans over the next 12 months.
Enhanced Oil Resources Inc. (EOR-X) rose 17 per cent, moving further away from a year low of 11 cents, as it provided an update regarding the company’s operations for July shortly before the close of Thursday trading.
Rutter Inc. (RUT-T) released its unaudited third quarter results showing a net earnings loss of $1.2-million or 1.6 cents per share compared to a profit of $3.4-million or 4.4 cents per share in the year earlier period.
Elcora Resources Inc. (ERA.P-X), a capital pool company, announced that Theo van der Linde has been appointed as chief financial officer, replacing John Cumming.