An employee adjust plates at HudBay's zinc plant in Flin Flon, Man.Brian Pieters/The Canadian Press
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Brick Brewing Co. Ltd. (BRB-T) reported revenue of $15.9-million in the second quarter up from $14-million for the same quarter a year earlier. Analysts were expecting revenue of $15.6-million.
Net income was $1.1-million or 3 cents per share up from $1.6-million or 5 cents a year ago.
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Hudbay Minerals Inc. (HBM-T; HBM-N) says it's raising $242-million in a bought-deal financing
It has an agreement with a syndicate of underwriters, which has agreed to purchase 24 million common shares at $10.10 each.
The proceeds will be used to advance current projects, enhance financial flexibility "to pursue other growth opportunities," and to reduce debt.
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Enghouse Systems Ltd (ENGH-T) reported third-quarter revenue of $82.8-million, an increase from $76.4-million in the third quarter last year.
"The revenue increase primarily reflects incremental revenue contributions from acquisitions," the company said.
Net income for the quarter was $11.2-million or 41 cents per share compared net income of $10.4-million or 38 cents a year ago.
Adjusted EBITDA for the quarter was $22.6-million compared to $21.6-million a year ago.
Analysts were expecting revenue of $85.3-million and earnings of 43 cents per share.
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Reitmans Canada Ltd. (RET.A-T) reported second-quarter sales of $251.1-million as compared with $254.4-million for the same period a year earlier.
Same store sales increased 2.5 per cent, the company said, with store sales decreasing 0.6 per cent and e-commerce sales increasing 39.9 per cent.
Net earnings for the three months ended July 29 were $9.7-million or 15 cents per share as compared with earnings of $9-million or 14 cents for the three months ended July 30, 2016.
Analysts were looking for revenue of $258.1-million and earnings of 16 cents.
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MacDonald, Dettwiler and Associates Ltd. (MDA-T) says it has signed a multi-million dollar contract with Boeing Satellite Systems, Inc. to supply a communication antenna subsystem for the AMOS-17 satellite.
It said the satellite will expand and strengthen Spacecom's coverage of the growing satellite service markets in Africa, the Middle East and Europe.
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TSO3 Inc. (TOS-T) says a "major hospital in Canada" has initiated terminal sterilization of duodenoscopes — for patients undergoing endoscopic retrograde cholangio pancreatography procedures — using the company's Sterizone VP4 sterilizer.
The company said its sterilizer is "the only validated system cleared for the terminal sterilization of duodenoscopes (U.S. claim pending clearance) as well as other complex multi-channeled flexible endoscopes such as colonoscopes and gastroscopes."
"For the first time in history, an industry leading medical facility is terminally sterilizing duodenoscopes using a validated process, a major advancement in healthcare and patient safety, and they are using TSO3 technology," stated CEO Ric Rumble.
TSO3 also announced the successful completion of a routine quality system compliance inspection by U.S. regulators. "The company passed the inspection without any reportable findings," which is said is "considerable" given its rapid expansion.
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WPT Industrial Real Estate Investment Trust (WIR.U-T) says it has waived diligence conditions and plans to acquire an approximately 936,000-square-foot distribution property located in Pennsylvania from a third-party seller for approximately $74.3-million (U.S.).
It said the property is currently 100-per-cent leased to two tenants.
"Our latest acquisition, which we expect to be immediately accretive to the REIT's AFFO [adjusted funds from operations] per unit, marks the REIT's entry into one of the fastest growing inland logistics markets in the United States," stated CEO Scott Frederiksen. "This transaction demonstrates the REIT's continued ability to source high-quality, accretive acquisitions while also expanding into new target markets."
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Clairvest Group Inc. (CVG-T) says it has invested in Also Energy Inc., a solar-monitoring company based in Boulder, Colorado.
It said the investment was made with limited partnerships and that Clairvest, together with limited partnerships controlled by it, "have partnered with the existing management team who will retain a significant interest in the business."
"Our domain efforts brought us to this exciting company and we have been consistently impressed with this business throughout our diligence," said Ken Rotman, Co-CEO of Clairvest.
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Dominion Diamond Corp. (DDC-T; DDC-N) says independent proxy advisory firms Institutional Shareholder Services, Inc. and Glass, Lewis & Co., LLC have both recommended that shareholders of Dominion vote for a takeover offer from The Washington Companies for $14.25 (U.S.) per share.
"In their analysis, both ISS and Glass Lewis acknowledged the substantial premium for shareholders, the certainty of value and liquidity to shareholders due to the all-cash consideration, and the robust auction process, as factors supporting a 'for' recommendation," the company said.
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