Clarusvisus/Getty Images/iStockphoto
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Interfor Corp. (IFP-T) reported third-quarter net earnings of $16.8 million or 24 cents per share, compared to $15.1-million or 22 cents per share for the same quarter a year earlier. Analysts were expecting earnings of 27 cents per share.
The company its recorded $9.4-million of expenses relating to "countervailing and anti-dumping duties imposed by the U.S. on its lumber shipments from Canada into the U.S." during the third quarter.
Total sales were $489.2-million versus $442.3-million for the same quarter a year ago.
The company also said chief financial officer John Horning will retire on Dec. 31, 2018.
**
ZCL Composites Inc. (ZCL-T) reported third-quarter revenue of $52.4-million, down 9 per cent from $57.9-million a year earlier.
Net income was $5.4-million or 17 cents per share down 31 per cent from $7.7-million or 25 cents per share a year earlier.
"Overall, we remain confident in our ability to achieve our 10 per cent compound annual revenue growth objective over the longer term," the company stated. "However, given the results through the third quarter of 2017, we do not believe it will be achieved this year. We nevertheless continue to focus on our journey of profitable growth."
**
BTB Real Estate Investment Trust (BTB.UN-T) says it bought a retail power center in Lévis, Qué. for $35.9-million, excluding transaction fees. The acquisition means it now owns 71 properties.
"This accretive acquisition is in line with BTB's strategic review where it is selling its smaller properties while purchasing larger properties maximizing financial performance," the company stated.
**
Bonavista Energy Corp. (BNP-T) reported a loss of $1.7-million or a penny per share in the third quarter, which compared to the loss of $29.4-million or 11 cents recorded in the same quarter a year earlier.
Production revenues came in at $121.9-million, up 13 per cent from $108.2-million the same time a year before. Analysts were expecting revenues to come in at $131.9-million.
Funds from operations were $68.5-million or 27 cents per share versus $66.8-million or 26 cents.
**
Lucara Diamond Corp. (LUC-T) reported third-quarter revenue of $77.9-million (U.S.) or $1,161 per carat versus $38.1-million or $332 per carat for the same quarter a year earlier.
Net income was $32.9-million or 9 cents per share versus a loss of $3.8-million or a penny per share in the year-ago quarter.
Analysts were expecting revenue to come in at $73.1-million and net income of $25.4-million.
"Cash flow generation during the quarter was strong reflecting robust sale prices including the sale of the Lesedi La Rona," stated CEO William Lamb. "The continued recovery of specials and an increase in prices compared to the prior year and in difficult market conditions emphasizes the quality of the Karowe stones over the long term."
**
Stornoway Diamond Corp. (SWY-T) reported a net loss of $3.1-million or zero cents per share in the third quarter.
Diamond sales of 405,643 carats were completed with gross proceeds of $48.1-million in the quarter.
Revenue during the quarter totaled $50-million, which was in line with analyst expectations. "This was the third quarter after the declaration of commercial production, and there were no sales in the comparable period," the company stated.
**
Altus Group Ltd (AIF-T) reported third-quarter revenue of $117.4-million, up about 6 per cent versus the same quarter a year earlier.
Its profit was $7.5-million or 20 cents per share versus a loss of $5.1-million or 14 cents a year earlier.
Analysts were expecting revenue of $121-million and net income of $6.5-million.
"Following a strong first half of the year, we're pleased with the sustained topline and earnings growth in the third quarter driven by solid performance across all of our business segments," commented Robert Courteau, CEO of Altus Group.
**
Mainstreet Health Investments Inc. (HLP.U-T) says it has entered into an agreement to acquire three post-acute transitional care facilities from Mainstreet Property Group, LLC for $67-million (U.S.).
"The company has the right to acquire the properties as a result of the mezzanine debt investments made pursuant to its development agreement with MPG," it said.
It plans to fund the transaction through the combination of the assumption of debt, the retirement of mezzanine loans on the projects, cash on hand, and the sale of its transitional care facility in Wichita, Kansas to MPG. The sale of the facility in Wichita to MPG for $22.8-million was previously announced.
**
Yangarra Resources Ltd. (YGR-T) reported third-quarter revenue of $17.7-million up from $6-million for the same quarter a year earlier.
Funds flow from operations came in at $12.9-million or 16 cents per share, compared to $3.3-million or 4 cents a year earlier. Net income was $4-million or 5 cents per share. That compared to a loss of $470,000 or a penny per share a year earlier.
Analysts were expecting revenue of $15-million and net income of $4.1-million.
**
Argonaut Gold Inc. (AR-T) reported revenue of $28.7-million in the third quarter versus $35-million the year before.
Net income was $400,000 or zero cents per share versus net income of $200,000 or nil per share a year earlier.
**
Echelon Financial Holdings Inc. (EFH-T) reported net income of $810,000 or 7 cents per share in the third quarter. That compared to net income of $1.4-million or 10 cents a year earlier.
Direct written premiums increased by 34 per cent to $78-million, "primarily due to organic growth in personal lines and the growth of commercial lines products launched in 2016," the company stated.
**
Gran Tierra Energy Inc. (GTE-N; GTE-T) reported a net income of $3.1-million (U.S.) in the third quarter compared with net loss of $229.6-million for the same quarter a year earlier.
Funds flow from operations came in at $55.1-million compared to $23.5-million a year earlier.
**
Athabasca Oil Corp. (ATH-T) reported net income of $5.1-million or a penny per share in the third quarter. That compared to a loss of $33-million or 8 cents a year ago.
Funds from operations were $34.4-million or 7 cents compared to a loss of $15.8-million or 4 cents a year earlier.
**
Westshore Terminals Investment Corp. (WTE-T) reported revenue of $96.3-million in the third quarter of 2017, above expectations of $89.6-million and down from $80.3-million a year earlier.
Profit after taxes was $36.7-million or 51 cents per share, which is above expectations of 46 cents and compared to $26-million or 35 cents a year earlier.
**
Stelco Holdings Inc. (STLC-T) is set to go public today. The initial public offering of 11.8 million shares at $17 per share is set to raise total gross proceeds of $200-million.
The offering is being made through a syndicate of underwriters led by Goldman Sachs Canada Inc. and BMO Capital Markets
**
GMP Capital Inc. (GMP-T) reported third-quarter revenue of $34.3-million down from $43.5-million a year earlier.
Its net loss was $2.8-million or 6 cents per share, improved from a net loss of $10.6-million or 18 cents a year earlier.
"Business activity in the quarter remained stubbornly low. The ongoing malaise in commodities and the low level of activity in small- to mid-cap names in general made for a daunting revenue environment and a disappointing quarter," stated Harris Fricker, CEO of GMP.
**
The Second Cup (SCU-T) reported sales of $37-million in the third quarter, versus $37.7-million a year earlier. Same-cafe sales fell 1.2 per cent year-over-year. Total revenue was $5.3-million versus $7.7-million a year earlier.
Its net loss was $3-million or 19 cents per share versus a loss of $75,000 or a penny per share a year earlier. Its adjusted EPS was 2 cents versus a loss of a penny a year ago.
The company said it is now debt-free following a full settlement of its long-term debt in the quarter.
**
CRH Medical Corp. (CRH-T; CRHM-N) says a new physician fee schedule in the U.S. announced on Thursday, if applied to its recent financial results, would result in a decrease of approximately 12 per cent of anesthesia revenue and a decrease of approximately 10.5 per cent of total company revenue.
Total adjusted operating EBITDA will decrease approximately 20 per cent, the company said.
That's higher than previous estimates released in July.
"Even with these changes, we expect our business would generate healthy operating EBITDA margins of approximately 43 per cent, and we look forward to growing our business with more certainty," said CEO Edward Wright.
**
Torq Oil and Gas Ltd. (TOG-T) reported a loss of $6.3-million or 3 cents per share in the third quarter compared to a loss of $12-million or 7 cents per share for the same quarter a year earlier.
Analysts were expecting a loss of $3.2-milion in the most recent quarter.
Adjusted funds flow from operations came in at $44.4-million or 24 cents per share compared to $31.6-million or 18 cents a year earlier.
**
Lithium Americas Corp. (LAC-T) says it has applied to list its common shares on the NYSE American stock exchange.
It's also consolidating its outstanding common shares on a five-for-one basis, effective Nov. 8.
"We believe the share consolidation and U.S. listing will improve trading liquidity of our common shares and enable us to broaden our shareholder base," CEO Tom Hodgson, stated in a release.
**
Sierra Wireless Inc. (SWIR-Q; SW-T) reported third-quarter revenue of $173.2-million (U.S.), an increase of 12.8 per cent compared to $153.6 million in the third quarter of 2016.
Net earnings came in at $1.2-million or 4 cents per share versus a loss of $1.8-million or 6 cents per share a year earlier.
Analysts were expecting revenue of $170.5-million and earnings of 3 cents per share.
**
Western Forest Products Inc. (WEF-T) reported revenue of $285.2-million in the third quarter, down from $322.7-million a year earlier.
"Supply challenges and strong demand delivered robust log and lumber pricing that partly offset the impacts of limited coastal log supply on results in the period," the company stated.
Net income was $13.6-million or 4 cents per share versus net income of $16.8-million or 4 cents a year earlier. Analysts were expecting earning os 6 cents per share.
"We managed the impacts of reduced log supply by consuming more logs internally in our mills. The optimization of our log supply chain has allowed us to operate at reduced log inventories and has delivered early stage cost reductions," said CEO Don Demens. "We remain encouraged by the strong market demand for our products and improved pricing environment despite the uncertainties caused by the U.S. trade action."
**
Slate Retail REIT (SRT.UN-T) reported third-quarter rental revenue of $30-million (U.S.) up from $23.7-million a year earlier.
Net operating income was $21.9-million versus $17-million for the same quarter last year.
Its net loss was $8.8-milion, improved from a loss of $15.3-million the year before.
**
Street Capital Group Inc. (SCB-T) reported total revenue (net of acquisition costs) of $19.2-million in the third quarter, compared to $22-million a year earlier.
Net income was $3.7-million or 3 cents per share versus $7.5-million or 6 cents a year earlier.
Adjusted earnings per share came in at 4 cents versus 5 cents a year ago. Analysts were expecting adjusted EPS of 3 cents and revenue of $18.1-million.