Slot machines owned by the Great Canadian Gaming Corp. at the River Rock Casino in Richmond, B.C. are seen in this file photo.JOHN LEHMANN/The Globe and Mail
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Stuart Olson Inc. (SOX-T) says its fourth-quarter revenue increased by 29 per cent to $282.6-million compared to a year earlier. Net earnings increased to $5.7-million or 18 cents per share, compared to a loss of $1.7-million or 6 cents in the fourth quarter of 2016. Analysts were expecting revenue of $258.8-million and earnings of 12 cents.
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Magellan Aerospace Corp. (MAL-T) reported revenue of $235.6-million in the fourth quarter down from $247.1-million for the same period in 2016. Net income was $32.1-million or 55 cents versus net income of $24-million or 41 cents a year earlier.
Analysts were expecting earnings of $250.7-million and earnings of 39 cents.
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Polaris Infrastructure Inc. (PIF-T), which has renewable energy projects in Latin America, reported revenue of $15.6-million in the fourth quarter, which was in line with expectations and compared to $15.7-million a year earlier. Adjusted EBITDA {earnings before interest, taxes, depreciation and amortization] was $13-million compared to adjusted EBITDA of $13.3-million for the same period in 2016.
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Choice Properties Real Estate Investment Trust (CHP.UN-T) says it has agreed to issue $1.3-billion senior unsecured debentures in a private placement. The net proceeds will be used by the trust to partially fund its acquisition of Canadian Real Estate Investment Trust.
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Sunniva Inc. (SNN-CN) says it's raising $25-million in a bought-deal public offering. It has an agreement with Beacon Securities Ltd. and Canaccord Genuity Corp. to buy 2.6 million units at $9.75 per unit. The net proceeds will be used for working capital and general corporate purposes, the company said.
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Newalta Corp. (NAL-T) reported fourth-quarter revenue of $61.7-million, down 3 per cent compared to the prior year. Its net loss for the quarter was $12.3-million or 14 cents compared to $75.3-million or 85 cents in the prior year. Analysts were expecting earnings of $64.2-million and a loss of 12 cents.
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Pure Industrial Real Estate Trust (AAR.UN-T) reported revenue of $61.8-million in the fourth quarter, up from $52.1-million a year earlier. Adjusted funds from operations came in at 9 cents, which was in line with expectations and up from 8 cents a year ago.
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Great Canadian Gaming Corp. (GC-T) reported revenues of $151-million in the fourth quarter versus $143-million for the same period a year earlier. Analysts were expecting revenue of $152.8-million. Net earnings were $12.9-million or 21 cents per share versus $15.5-million or 25 cents a year ago.
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Timbercreek Financial Corp. (TF-T) reported net investment income of $23.2-million in the fourth quarter, which was in line with expectations and up from $20.5-million a year earlier. Net income was $12.9-million or 17 cents per share versus $13.1-million or 18 cents a year ago.
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Black Diamond Group Ltd. (BDI-T) reported fourth-quarter revenue of $41.6-million, up 10 per cent from a year ago. That compared to $37.1-million a year ago. Its net loss was $78.8-million versus a net loss of $45.2-million a year ago.
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Semafo Inc. (SMF-T) reported net income attributable to equity shareholders of US$1.6-million in the fourth quarter, compared to net loss of US$4.9-million for the same period in 2016. Cash flows from operating activities of US$25.4-million compared to US$30.4-million for the same period in 2016. Analysts were expecting net income of $1.9-million.
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Mercer International Inc. (MERC-Q; MERC.U-T) says a NAFTA [North American free trade agreement] tribunal has ruled against its claim that it was discriminated against by B.C. Hydro and the B.C. Utilities Commission.
"In a split decision, a majority of the tribunal ruled that it lacked jurisdiction to decide certain of the company's claims under NAFTA and, with respect to the company's other NAFTA claims, that they were highly complex and technical and that it would be inappropriate for the tribunal to re-determine matters calling for specialist judgment and, as a result, there was no violation of NAFTA," the company stated. The tribunal awarded costs to Canada of approximately $6.9-million.
Mercer had initiated its NAFTA claim against the Government of Canada in January, 2012.
--with a file from The Canadian Press
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Transcontinental Inc. (TCL.A-T; TCL.B-T) says it has acquired Multifilm Packaging Corp., a flexible packaging supplier located near Chicago.
"The acquisition of Multifilm Packaging Corp. is aligned with our growth strategy for the packaging division and presents tremendous opportunities," said CEO François Olivier. "This transaction allows us to enter new high-end confectionery packaging niches and to bolster our offering in this market."
The price wasn't disclosed in the news release. Transcontinental said this is its sixth flexible packaging acquisition since entering the industry in 2014.
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Serinus Energy Inc. (SEN-T) says board chairman Helmut Langanger and board member Sebastian Kulczyk have resigned. Both resignations take effect after a special meeting of shareholders today. Łukasz Rędziniak, a board member since March 2016, will serve as interim chairman.
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Kelt Exploration Ltd. (KEL-T) reported petroleum and natural gas sales of $80.8-million in the fourth quarter, up from $55.7-million a year earlier.
Its loss was $5.4-million or 3 cents per share in the quarter, versus a profit of $11.9-million or 7 cents a year ago.
Adjusted funds from operations came in at $32.9-million or 18 cents per share versus $23.1-million or 13 cents a year earlier.
Analysts were expecting revenue of $75.4-million and a loss of a penny per share.
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Theratechnologies Inc. (TH-T) and its partner TaiMed Biologics Inc. announced that the U.S. Food and Drug Administration (FDA) has granted approval of Trogarzo (ibalizumab-uiyk) Injection, which is used in the treatment of human immunodeficiency virus type 1 (HIV-1) infection.
"Today's approval ... by the FDA is great news for people infected with difficult-to-treat multidrug-resistant HIV. We look forward to bringing this much-needed therapy to patients in the U.S within six weeks," said Luc Tanguay, CEO of Theratechnologies Inc., in a statement.
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