Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Optiva Inc. (former Redknee Solutions Inc.) (RKN-T) reported first-quarter revenue of $34.4-million compared to $37.2-million for the same period a year earlier. Its net loss was $64.5-million or 25 cents per share compared to a net loss of $6.4-million or 6 cents a year ago.
Analysts were expecting revenue of $29.7-million and a loss of 9 cents, according to S&P Capital IQ data.
Earnings came in at 5 cents per share versus a loss of a penny a year earlier. Adjusted EPS was a profit of 8 cents, which was below expectations of 15 cents and compared to a profit of 10 cents a year earlier.
Just Energy Group, Inc. (JE-T; JE-N) reported sales of $912.2-million in the third quarter ended Dec. 31, which is down slightly from $918.5-million a year earlier. Analysts were expecting revenue of $970.3-million.
Profit was $208.4-million or $1.13 per share versus a profit of $188-million or 98 cents a year ago.
Net earnings were $14.4-million or 33 cents per Class A share versus $8.1-million or 20 cents a year ago.
Namaste Technologies Inc. (N-CN) says it intends to re-file its unaudited condensed interim consolidated financial statements and related management discussion and analysis for the three-month period ended Nov. 30, to 'correct errors." It said the errors are for the three month periods ended Nov. 30, 2016 and Nov. 30, 2017. It said the corrections do not affect its Aug. 31, 2017 audited annual financial statements.
"For the three-month period ended Nov. 30, 2017, these errors will have no impact on revenue, gross margin or cash and will result in a reduction in net loss of Namaste for the three-month period ended Nov. 30, 2017," the company stated. "For the three-month period ended Nov. 30, 2016, these errors will impact gross margin and will also result in a reduction in net loss for the three-month period ended Nov. 30, 2016. There is no impact on revenue or cash."
Net earnings were $7.1-million or 32 cents per unit versus $8.7-million or 43 cents for the same quarter last year. Analysts were expecting revenue of $11.3-million and earnings of 33 cents.
Stuart Olson Inc. (SOX-T) says it has been awarded approximately $120-million in new contracts in Ontario. The first project is to construct a 30-storey student residence for a large post-secondary institution. The second project is to construct an eight-storey seniors retirement residence.
"These new Ontario contract awards are important wins for our Buildings Group," said David LeMay, Stuart Olson's President and CEO. "The post-secondary project signals momentum in the approval of planned provincial infrastructure spending, and we are pleased to add another significant post-secondary institution contract to our backlog. The award of the retirement residence project is a reflection of our growing reputation in this field as evidenced by our work with a variety of clients. Our ongoing strategy of growth in this province is focused on pursuing properly sized projects through our collaborative construction management approach."
MEG Energy Corp. (MEG-T) says it has entered into an agreement to sell its 50-per-cent interest in Access Pipeline and 100-per-cent interest in Stonefell Terminal to Wolf Midstream Inc. for $1.6-billion.
MEG said it will receive $1.5-billion in cash at closing, and a credit of $90-million toward future expansions of Access Pipeline whereby MEG will not pay incremental tolls to fund such expansions.
"This transaction accomplishes the objectives we set out to achieve in unlocking the value of our midstream assets," said Bill McCaffrey, MEG's CEO. "Our goal was to surface attractive value and terms that allow us to substantially pay down debt, pursue highly economic growth projects and ensure our future transportation and storage needs are met, all while protecting MEG's competitive cost position. We expect to more than offset the incremental transportation costs related to this transaction as we bring on additional barrels."
Yellow Pages Ltd. (Y-T) reported fourth-quarter revenue of $183.8-million, down 9.4 per cent from last year "mainly due to lower print revenues in the YP segment."Analysts were expecting revenue of $186.5-million in the quarter.
Its net loss for the fourth quarter was $586.4-million, or $22.33 per diluted share as compared to a net loss of $431.6-million, or $16.35 per diluted share for the fourth quarter of 2016.
"The net losses for the fourth quarter of 2017 and 2016 were primarily due to charges of $507-million and $600-million in the fourth quarter of 2017 and 2016, respectively, related to the write-down of intangible assets and goodwill," the company stated. "The net loss for the three-month period ended December 31, 2017 was further impacted by [the] writedown of tax attributes. These elements are non-cash items."
Net income of $737,000 or a penny per share compared to $2.7-million or 5 cents per share a year earlier.
Adjusted net income came in at 11 cents per share compared to 12 cents last year.
Analysts were expecting earnings of 4 cents, adjusted EPS of 13 cents and revenue of $31.5-million.
Emerald Health Therapeutics Inc. (EMH-X) says it's raising $18-million in a prospectus sale.
It has a binding term sheet with a "single Canadian institutional accredited investor" that has agreed to buy 3 million units at $6 each. "The securities forming the units will be qualified under a shelf prospectus supplement to be filed by Emerald prior to closing," the company said.
The investor has also agreed to purchase from Emerald Health Sciences, "a control person of the company," 2 million common shares held by Sciences at $6 per share. "The secondary sale will close concurrently with the closing of the offering," the company said.
It intends to use the net proceeds for its production and research- and development-related growth plans, working capital and general corporate purposes.
Valeura Energy Inc. (VLE-T) says it's raising $50-million in a bought-deal financing. It has entered into an agreement with a syndicate of underwriters to purchase 8.8 million shares of Valeura at a price of $5.70 each. The syndicate will be led by GMP FirstEnergy and includes Cormark Securities.
The company said it expects to use the net proceeds to fund the "continued appraisal of its basin-centered gas play in Turkey and for general corporate purposes."
Net income was $1.3-million or 6 cents per share versus $3.8-million or 17 cents a year ago. Analysts were expecting earnings of 4 cents in the most recent quarter.