Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
"Over the course of the last couple of years we have had our fair share of challenges," stated CEO Murray Mullen in a release. "Business suffered as we adapted to the collapse in the oil and gas industry. Employees lost jobs, experienced reductions in their take-home pay and shareholders have lost value in their shares as well as a reduction in the dividend."
He said business fundamentals today are "strong, employment levels are back to pre-2015 levels, most employees are seeing a recovery in their total pay and we have delevered the balance sheet. In recognition of the turnaround in these fundamentals, the board has approved a very healthy increase in the annual dividend to our shareholders."
Its net loss was $1.2-million or 1.4 cents per share compared to net income of $9.1-mllion or 11.2 cents a year ago.
Analysts were looking for revenues of $16.6-million and a loss of 2 cents per share.
Earnings came in at 14 cents per share compared to 21 cents a year earlier.
Capital Power Corp. (CPX-T) says its Whitla Wind project was selected by the Alberta Electric System Operator (AESO) as one of three successful proponents in the first round of its Renewable Electricity Program (REP).
"This was the first of the REP processes that the AESO will undertake to deliver new renewable electricity in support of the Government of Alberta's 30 per cent renewables target by 2030," the company stated.
Net income attributable to shareholders came in at $148.1-million, compared with $34.9-million in the same quarter in 2016.
Its adjusted income per share was $1.24, above expectations of $1.09 and compared to 66 cents for the same time last year.
In its outlook for the first half of 2018, Transat said in the sun destination market outbound from Canada, its main market segment during the winter, capacity is up 8 per cent compared with last year.
"To date, 50 per cent of that capacity has been sold, bookings are ahead by 9.2 per cent, and load factors are similar," the company stated.
Expenses are down 2 per cent due to the strengthening of the Canadian dollar, offset by rising fuel costs. In the transatlantic market, where it is low season, Transat said its capacity is up 20 per cent from last winter.
Savaria Corp. (SIS-T) says it has acquired assets of Master Lifts Australia Pty Ltd, an elevator dealer based in Brisbane, for $3.1-million.
In addition, Master Lifts has the potential to earn a further $1-million over a two-year period upon the achievement of certain annual performance metrics, the company stated.
"The acquisition of Master Lifts provides Savaria with a national sales platform to gain access to the Australian market," the company said.