Canadian issues that are moving on early news
EnerCare Inc. has been awarded substantial new sub-metering business by two preeminent landlords. The awards include the installation of sub-metering systems, as well as the ongoing provision of billing and collection services to approximately 4,500 rental apartment suites in Ontario. EnerCare lost 1 per cent yesterday.
The Descartes Systems Group Inc. reported a second-quarter 2013 net income of $2.5-million, or 4 cents per share, on revenues of $30.5-million. In the same period last year, net income was $2.6-million, or 4 cents per share, on revenues of $28.8-million.
Karnalyte Resources Inc., which gained 6 per cent Wednesday, announced that it has entered into an engineering, procurement and construction management services agreement with Foster Wheeler Canada Limited, whereby FWCL will provide EPCM services for the Wynyard Carnallite project, which involves the construction of a facility that will initially produce 625,000 tonnes of potash per year, increasing to 2.125 million tonnes of potash per year.
Major Drilling Group International Inc., which closed up 1.5 per cent yesterday after earlier touching year lows, reported record first-quarter revenue at $237.6-million. Net earnings were also an all-time record at $31.9-million or $0.40 per share for the quarter. The company increased its semi-annual dividend to $0.10 per share, to be paid on Nov. 1, which represents an 11.1 per cent increase from the previous dividend.
Transcontinental Inc., which fell nearly 3 per cent and closer to a year-low $9.07 yesterday, will today announce the details of its third-quarter results and host a conference call for the financial community at 4:15 p.m. (ET.)
Cascades Inc. announced $22-million in major investments in several of the folding carton and microlithography plants of its Norampac Division.
Enghouse Systems Limited intends to release its third-quarter results after market close today. A conference call to discuss these results will be held on Sept. 7 at 8:45 a.m. (EST.)
COM DEV International Ltd. expects to issue its third-quarter financial results today at approximately 4 p.m. (ET). The company will host an investor conference call at 5 p.m. to discuss the results.
ADF GROUP INC. closed the second quarter of the 2013 fiscal year with revenues of $10.6-million, lower than those for the same quarter of the 2012 fiscal year. ADF posted second-quarter net earnings of $29,000 ($0 per share, basic and diluted), compared with $0.8-million ($0.02 per share, basic and diluted) a year ago.
Ecuador Gold & Copper Corp., which is trading at year lows, announced that its Ecuador subsidiary Condormining Corporation S.A. has entered into a letter of intent with Guangshou Group Co. Ltd. to form a JV for exploration development of the Chinapintza deposit at its Condor Gold Project in southeast Ecuador for up to 300 tonnes per day of gold mineral extraction.
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