Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Home Capital Group Inc (HCG-T) said on Wednesday its high-interest savings deposits were expected to have fallen to about $134-million following the completion of Tuesday's settlements.
Deposits were expected to have fallen to about $146-million following completion of Monday's settlements.
Depositors have withdrawn more than 90 per cent of funds from Home Capital's high-interest savings accounts since March 27, when the company terminated the employment of former CEO Martin Reid.
The withdrawals accelerated after April 19, when Canada's biggest securities regulator, the Ontario Securities Commission, accused Home Capital of making misleading statements to investors about its mortgage underwriting business.
The company has said the accusations are without merit.
DHX Media Ltd (DHX.B-T; DHX-A) is buying the entertainment unit of Iconix Brand Group Inc for $345-million, adding the Peanuts comic strip and cartoon character Strawberry Shortcake to its roster of brands that includes Bob the Builder and Teletubbies.
Reuters reported in January that Iconix was exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to cartoon strip characters Snoopy and Charlie Brown.
Iconix was also looking to sell its Strawberry Shortcake brand, which is based on a character that rose to fame in the 1980s as a doll for young girls, Reuters reported in January.
DHX Media will be buying an 80-per-cent stake in the Peanuts brand. The remaining 20 per cent will continue to be held by members of the family of Charles Schulz, the creator of the brand, DHX said on Wednesday.
The deal value will be financed through a combination of cash on hand, new debt financing facility and a private placement offering of subscription receipts exchangeable for convertible debentures, DHX said.
DHX Media, which owns rights to popular children's television shows, said the deal would be 6 per cent to 10 per cent accretive to earnings per share, on a pro forma basis.
DHX said it also expects to realize annual cost synergies of $5-million within the first year post-closing and $25-million within the first five years.
The deal is expected to close on or around June 30.
SunOpta Inc. (STKL-N; SOY-T) reported revenues of $330-million (U.S.) for the first quarter of 2017, compared to $352.3-million in the first quarter of 2016.
Its loss from continuing operations was $11.4-million or 16 cents per share in the first quarter of 2017, compared to a net loss from continuing operations of $9.7-million or 11 cents a year earlier.
Adjusted loss from continuing operations was a penny per share versus earnings of 3 cents a year earlier.
Analysts were expecting a loss of 2 cents per share and revenue of $339.4-million.
High Liner Foods Inc. (HLF-T) says it's buying Rubicon Resources, LLC, a privately held U.S. based frozen shrimp company for about $107-million (U.S.) in cash and shares.
"The company believes this acquisition will provide it with a strong platform for growth in this key species," it stated.
Rubicon's annual sales in 2016 were about $234-million.
"The company does not anticipate it will realize material synergies from this business but it will be immediately accretive in 2017," it said.
It also said first-quarter sales decreased to $275.7-million compared to $291.4-million a year ago.
Net income dropped to $10.7-million compared to $14.2-million. EPS decreased to 34 cents compared to 45 cents.
Analysts were expecting earnings of 54 cents and sales of $296.6-million in the quarter.
Fiera Capital Corp. (FSZ-T) reported first-quarter revenue of $100.6-million, up 52 per cent compared to $66.3-million for the same period last year.
"The year-over-year increase in revenues is mainly due to the acquisitions of Apex Capital Management, Charlemagne Capital Ltd. and additional revenues from private alternative investment strategies including real estate and infrastructure, combined with organic growth namely from the institutional and private wealth clientele," the company said.
Net earnings attributable to the shareholders came in at $4.4-million, or 5 cents per share versus $7.3-million, or 10 cents per share a year earlier.
Adjusted net earnings were 25 cents per share compared to 23 cents a year earlier.
Analysts were expecting revenue of $95.2-million and earnings of 26 cents per share.
Concordia International Corp. (CXRX-Q; CXR-T) reported revenue of $160.6-million (U.S.) in the first quarter, compared to $228.5-million for the same period in 2016.
Adjusted EBITDA of $84.2-million compared to $140.8-million for the same period in 2016.
Its net loss was $1.54 per share compared to a loss of 90 cents a year earlier.
Analysts were expecting revenue of $166.4-million.
Yellow Pages Ltd. (Y-T) said revenues for the quarter ended March 31, dropped 7 per cent to $189.5-million compared to a year earlier, mainly due to lower print revenues.
Print revenues decreased 24 per cent year-over-year to $54.7-million, "as print customers continue to transition to digital advertising."
Net earnings were $700,000 compared to $13.2-million for the same period last year. EPS was 2 cents versus 49 cents a year ago.
Analysts were expecting revenue of $196.1-million and earnings of 20 cents.
Iamgold Corp. (IAG-N; IMG-T) reported a net loss of $18-million (U.S.) or 4 cents per share in the first quarter, down from net earnings of $53.1-million or 13 per share a year ago.
Revenues were $260.5-million up from $219.7-million a year earlier.
Analysts were expecting revenue of $248.4-million and a loss of 2 cents.
CEO Steve Letwin called it "an outstanding quarter." Gold production increased by 12 per cent and gross profit rose by 438 per cent to $35-million "due to higher sales volume and a slight increase in realized gold prices."
Total Energy Services Inc. (TOT-T) reported revenue of $84.5-million in the first quarter, up from $50-million a year earlier.
Its net loss was $853,000 or 3 cents per share versus a loss of $2.1-million or 7 cents a year earlier.
Analysts were expecting revenue of $69-million and a loss of 3 cents.
Sleep Country Canada Holdings Inc. (ZZZ-T) reported revenues of $124.3-million in the first quarter, up 15.8 per cent from $107.3-million a year earlier.
Same-store sales growth was 11.9 per cent.
Net income was $10.3-million or 27 cents versus $7.3-million or 19 cents a year earlier.
Adjusted earnings were 29 cents up from 20 cents a year ago.
Analysts were expecting revenue of $120.1-million and earnings of 25 cents per share.
Morguard Corp. (MRC-T) reported first-quarter revenue of $270.9-million compared to $232.1-million for the same period in 2016.
Net operating income increased 9 per cent to $101.1-million.
Funds from operations came in at $47.6-million compared to $47.7-million for the same period in 2016.
Net income for the three months ended March 31 was $32.5-million compared to net income of $12.1-million in 2016
Net income attributable to shareholders was $15.7-million or $1.32 per share versus a loss of $7.1-million or 59 cents a year earlier.
Summit Industrial Income REIT (SMU.UN-T) reported operating revenues of $13-million in the first quarter compared to $10.2-million in the same period last year "due primarily to the REIT's portfolio growth over the last 12 months and successful leasing activities."
Funds from operations were $5.5-million or 13.8 cents per unit, up from $4.3-million or 14.9 per unit in the same quarter of 2016.
Net income was $6.2-million versus $4.3-million a year ago.
Chemtrade Logistics Income Fund (CHE.UN-T) reported first-quarter revenue from continuing operations of $274.6-million, a decrease of $5.8-million from 2016.
Net earnings from continuing operations for the first quarter of 2017 was $700,000 compared with $27.5-million in 2016.
"Relative to the first quarter of 2016, net earnings during the first quarter of 2017 were negatively affected by lower levels of unrealized foreign exchange gains and higher net finance costs, partially offset by higher net income tax recoveries," the company said.
Newalta Corp. (NAL-T) reported first-quarter revenue of $60.8-million, up 25 per cent compared to prior year "driven primarily by an increase in U.S. drill site utilization and drilling-related waste volumes in Canadian oilfield facilities."
Its net loss for the quarter was $14.5-million or 16 cents per share, compared to $41.2-million or 73 cents in the prior year.
"The year-over-year improvement was driven by increased contributions from oilfield operations and reductions in restructuring and other expense, impairment, and G&A, partially offset by a decrease in income tax recovery and an increase in depreciation and amortization," the company said.
Analysts were looking for revenue of $55.4-million and earnings of 13 cents.
Northview Apartment Real Estate Investment Trust (NVU.UN-T) reported net operating income of $42.3-million in the first quarter down slightly from $43-million a year earlier.
Diluted funds from operations were 44 cents for the three months ended March 31, compared to 49 cents for the same period in 2016.
BTB Real Estate Investment Trust (BTB.UN-T) reported first-quarter net income of $4-million versus $3.6-million a year ago.
Rental income was down slightly to $18.4-million versus $18.6-million a year ago.
Polaris Infrastructure Inc. (PIF-T) reported revenue of $13.4-million in the first quarter, compared to revenue of $12.6-million for the same period in 2016.
Its loss was 7 cents per share versus a loss of 13 cents a year ago.
Analysts were expecting a loss of 5 cents and revenue of $13.3-million.
AirBoss of America Corp. (BOS-T) reported net income of $2.9-million (U.S.) or 12 cents per share in the first quarter, down from $4.3-million or 19 cents a year earlier.
Sales were $69.9-million versus $70.5-million a year ago.
Analysts were expecting earnings of 9 cents and revenue of $64-million.
CanWel Building Materials Group Ltd. (CWX-T) reported revenues of $223-million in the first quarter, up from $198-million in the same period in 2016.
Net earnings were $1.7-million up from $912,000 a year ago.
Analysts were expecting revenue of $217.4-million.
Exchange Income Corp. (EIF-T) reported first-quarter revenue of $222.5-million, up 2 per cent from a year earlier.
Net earnings were $5.6-million or 18 cents per share versus $9.8-million or 36 cents per share a year ago. Adjusted earnings were 25 cents versus 43 cents a year earlier.
Analysts were expecting revenue of $224.4-million and earnings of 42 cents.
Cascades Inc. (CAS-T) reported sales of $1-billion in the first quarter, similar to the year earlier.
Net earnings were $12-million or 13 cents per share compared to $34-million or 35 cents a year ago.
Analysts were expecting earnings of 15 cents and revenue of $992.5-million.
TSO3 Inc. (TOS-T) reported first-quarter revenue of $4.2-million compared to $3.1-million in the first quarter of 2016.
Its net loss was $2-million or 2 cents per share compared to a loss of $900,000 or a penny per share a year earlier.
Analysts were expecting a loss of 2 cents and revenue of $4.1-million.
Pure Industrial Real Estate Trust (AAR.UN-T) said revenue for the first quarter came in at $53.6-million up from $43.5-million in the same period of 2016.
Funds from operations were 10 cents per unit, similar to the year before.