Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Uni-Select Inc. (UNS-T) reported fourth-quarter sales of $400.2-million, up 9.3 per cent from the year-earlier period. The expectation was for revenue of $394-million.
Net earnings were $9-million or 20 cents per share versus a loss of $5.1-million or 12 cents a year earlier. The expectation was for EPS of 14 cents.
“The increase year-over-year was primarily driven by continued growth in the adult-use market in Canada, increased sales in the Israeli medical cannabis market, and increased sales in the U.S. segment,” the company stated.
Adjusted EBITDA was a loss of US$46.8-million versus a loss of US$30.1-million a year earlier.
Postmedia Network Canada Corp. (PNC.B-T) announced an agreement with J. D. Irving Ltd. to buy Brunswick News Inc., which includes daily and weekly newspapers, digital properties and parcel delivery business for $7.5-million in cash and $8.6-million in variable voting shares of Postmedia “at an implied price” of $2.10 per variable voting share.
Pizza Pizza Royalty Corp. (PZA-T) announced an 8.3-per-cent increase to its monthly dividend to 6.5 cents from 6 cents. Annualized, the dividend will increase to 78 cents from 72 cents per share, the company stated. The dividend will be payable to shareholders of record at the close of business on Feb. 28 and will be paid on March 15.
“Given the significant Lundin family ownership of Lucara shares (about 24.5 per cent), it is the family’s intention to recommend ongoing representation on the Lucara board of directors,” the company stated, while adding it will be searching for a replacement.
Mr. Lundin is also planning to retire as chairman at large-cap Lundin Mining, that company stated in a separate release.
Converge Technology Solutions Corp. (CTS-T) reported preliminary revenue of $497.5-million to $504.5-million for the fourth quarter compared to $289.6-million from the same quarter in 2020. That’s ahead of expectations of $475.8-million, according to S&P Capital IQ.
It also said adjusted EBITDA will be in the range of $32.1-million to $34.8-million, increasing from $23.4-million for the same quarter a year earlier.
The company will provide quarterly and full-year 2021 results on March 22.
Net income attributable to shareholders was $12.1-million for earnings per share of 28 cents, compared with net income attributable to shareholders of $27.4-million or 63 cents per share for the same quarter of 2020, the company stated.
“The increase to our quarterly dividend reflects our continued strong free cash flow generation, balance sheet strength, and our commitment to delivering superior returns to our shareholders through disciplined capital allocation,” said CEO David Rae.
The company also reported revenue of US$166.4-million up from US$151.8-million a year earlier.
Net earnings came in at US$52.1-million or 27 cents US per share versus US$50.2-million or 28 cents a year earlier.
Net earnings were $8.2 million or 15 cents per share compared to $287,000 or a penny per share in the fourth quarter of 2020.
GoGold Resources Inc. (GGD-T) announced a $40-million bought deal financing. The company said it has an agreement with a syndicate of underwriters led by BMO Capital Markets that will buy 14,040,000 common shares for $2.85 each.
The net proceeds will be used to support the continued advancement of the company’s Los Ricos North and South projects and for general corporate purposes.
Funds from operations were $21.8-million or 40 cents per unit, which was in one with expectations and compared to $$22.7-million or 40 cents a year ago.
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