H2O Innovation Inc. , a water treatment solutions company, announced today its financial results for the second quarter of fiscal year 2012. The company posted revenues of $7.1-million, up from $6.4-million for the same period in fiscal 2011. Net loss, however, was higher during the quarter at $1.2-million compared to the previous year's $523,693. EBITDA was negative $707,814, compared to negative $23,624 for the same period in fiscal 2011.
DeeThree Exploration Ltd. today announced the results of its fifth horizontal Bakken well on its Lethbridge property. Its greatly increased understanding of the Bakken play derived from the 2011 four well Bakken test program and its extensive 3D seismic has resulted in a more targeted approach to drilling on its acreage. This has resulted in its most significant Bakken discovery well to date.
AbitibiBowater Inc., doing business as Resolute Forest Products , announced that it applied to the Bureau de decision et de revision (Quebec), the administrative tribunal with statutory jurisdiction in securities law and regulatory matters, for an order to cease trade the proposed offer by Mercer International Inc. to acquire all of the issued and outstanding common shares of Fibrek Inc. . Fibrek and Mercer announced the offer on February 10. The Mercer cash and share bid of around $170-million tops a $130-million offer by Resolute, which has extended its offer to February 23.
Cequence Energy Ltd. , which is trading near year lows, provided an operational update and guidance on its 2012 capital budget. It said the first half 2012 segment of Cequence's winter drilling program was designed to further delineate the company's core Montney assets at Simonette and to preserve otherwise expiring acreage. In response to the current low gas price environment, Cequence said it has taken steps to prudently manage its assets and preserve its balance sheet. Capital expenditures will be limited to capital projects critical to land retention, delineation of the company's extensive Montney resource base at Simonette, and to capturing new liquids-weighted opportunities.
Wesdome Gold Mines Ltd. released updated mineral reserves and resources estimates for its 100 per cent owned Eagle River, Kiena and Mishi gold mines as of Dec. 31, 2011. Highlights: Proven and probable reserves increased 10 per cent, net of depletion to stand at 350,000 ounces; measured and indicated resources total 583,000 ounces; inferred resources total 186,000 ounces.
D-BOX Technologies Inc. , a leader in innovative motion technology that saw its shares fall 5 per cent on Monday, announced revenues of $1.81-million for the third quarter ended Dec. 31, 2011 which compares to revenues of $1.365-million for the year earlier period. It had a net loss of $1.958-million compared to $1.836-million.
DHX Media Ltd. , a producer of mainly children's entertainment content, announced its financial results for the second quarter ended Dec. 31, 2011. Highlights: revenues of $24.7-million, up 27 per cent from $19.4-million for second-quarter 2011; net income of $1.8-million, an increase of 115 per cent from $0.85-million for second-quarter 2011; and earnings per share of $0.03 vs. $0.01 for second-quarter 2011.
Consolidated HCI Holdings Corporation announced the declaration of a special dividend of $0.75 per Class B Share. Shareholders of record at the close of business on Feb. 23, 2012 will be entitled to receive payment of the dividend on March 5, 2012. Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company.
Rutter Inc. released its unaudited first quarter consolidated financial statements for the three-month period ended Nov. 30, 2011. It had a net loss of $518,000, $(0.007) per share, as compared to net earnings of $222,000, $0.003 per share, in the prior year. Revenues were $5.6-million, compared to $6.9-million.