Our roundup of Canadian small-caps making news and on the move today.
Lumenpulse Inc. (LMP-T) reported its fourth-quarter financial results, which showed a profit after adjustments of 3 cents per share, compared to a loss of 10 cents per share one year earlier.
Revenues for the three months ended April 30 amounted to $31-million, which represents an increase of 82 per cent over the fourth quarter of 2014. Analysts had expected revenue of $29.57-million.
Adjusted net income reached $800,000, compared to a loss of $1.3-million in the prior year's quarter, with the change primarily due to an improvement in adjusted EBITDA, and a favourable variance in interest and other financing income.
"In fiscal 2015 we attained an important milestone with revenues reaching $100-million," said Francois-Xavier Souvay, the company's CEO. The company attributed revenue growth to investments in technological innovation, manufacturing operations, and sales coverage expansion.
"Our objectives remain to continue growing Lumenpulse's business at a rate that exceeds the growth rate in the general lighting market for LED products," Mr. Souvay said.
Nobilis Health Corp. (NHC-T) announced that it will join three Russell indexes, including Russell Global, Russell 3000, and Russell Microcap, as of the annual reconstitution of the index on June 26.
"This will be a valuable tool that raises our profile which will attract new shareholders to the Nobilis story as we continue on our rapid growth throughout the country," said Chris Lloyd, CEO of Nobilis.
Patient Home Monitoring Corp. (PHM-X) said it has initiated the process for graduation from the Toronto Venture Stock Exchange to list on the Toronto Stock Exchange.
"After our recent acquisition, PHM has been attracting more and more interest from the U.S. investment community," said Michael Dalsin, chairman of Patient Home Monitoring. "We believe that a senior exchange listing will make a U.S. listing much easier and quicker."
Toronto-based Regal Lifestyle Communities Inc. (RLC-T) said it has entered into an agreement under which Revera Inc. and Health Care REIT Inc. will purchase all of the outstanding common shares of Regal for $12 per share in cash. That represents a premium of about 27.1 per cent to the closing price of Regal's shares on the Toronto Stock Exchange on Wednesday. The deal has been unanimously approved by Regal's board of directors and special committee.
"We are pleased that, through their attractive offer to our shareholders, Revera and HCN have recognized the tremendous value that the Regal team has created since the company's IPO in October, 2012 through our focused efforts in building an exceptional portfolio of retirement homes and our dedication to fulfilling on our vision and values," said Simon Nyilassy, President and CEO of Regal. "We look forward to working with Revera and HCN to obtain all necessary approvals and ensure a smooth transition for our residents and employees."
Blackline GPS Corp. (BLN-X) said it generated record second-quarter revenue while posting a smaller net loss from the prior year. For the three months ended April 30, Blackline generated revenue of $1.6-million, which represents an increase of 126 per cent over the second quarter of 2014. Meanwhile, the company's net loss amounted to $0.03 per share, compared to a net loss of $0.07 last year. "The substantial revenue growth across our North American and European regions was achieved through sales to a broad cross-section of customers ranging from meter readers to correctional officers," says Cody Slater, the company's CEO. "Achieving three consecutive quarters of triple-digit growth demonstrates the impact of Blackline's maturing product line and increased customer reach."
Cequence Energy Ltd. (CQE-T) said it has closed on its previously announced deal with Kanata Energy Group Ltd., which involved the sale of a 50-per-cent interest in Cequence's Simonette facilities. Proceeds of $34-million received by Cequence at the closing of the sale was used to pay down debt, the company said.
Cynapsus Therapeutics Inc. (CTH-T) announced the pricing of its U.S. public offering, which is expected to generate gross proceeds of $63-million (U.S.). Trading of the common shares, initially priced at $14 per share, are expected to begin trading on Nasdaq Global Market, while the stock will continue to be listing on the Toronto Stock Exchange.
Stornoway Diamond Corp. (SWY-T) reported its fourth-quarter financial results, which showed a net loss of $8.5-million, or $0.01 per share, which was down from a loss one year earlier of $0.04 per share. "Net losses were impacted by several items not reflective of Stornoway's underlying operating performance, including changes in the fair value of a derivative and unrealized gains and losses from foreign exchange," the company said. "During the fiscal year just ended, Stornoway successfully completed a $946-million project financing transaction for the Renard Diamond Project and commenced its construction. The Stornoway team has achieved a good start over the project's first 10 months, with both cost and schedule tracking within plan."