Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Laurentian Bank Financial Group (LB-T) missed expectations as it reported its first-quarter profit fell to $32.2-million compared with $40.3-million in the same quarter a year earlier. The bank says the profit amounted to 68 cents per diluted share for the quarter ended Jan. 31 compared with a profit of 88 cents per diluted share a year earlier.
On an adjusted basis, Laurentian says it earned 79 cents per share for the quarter, down from an adjusted profit of 98 cents per share in the first quarter of its 2019 financial year. Analysts on average had expected an adjusted profit of $1.08 per share, according to financial markets data firm Refinitiv.
-The Canadian Press
**
StorageVault Canada Inc. (SVI-T) said its revenue for the fourth quarter increased to $37.2-million, which was in line with expectations of $37.7-million and compared to $26.6-million a year earlier. Its net loss was $11.6-million versus a net loss of $0.8-million for the year earlier. The wider loss is after $22.6-million of depreciation and amortization, $9.3-million in unrealized loss on interest rate swap contracts and deferred tax recovery recorded in the quarter of $11.6-million, the company stated.
StorageVault also said it’s increasing its quarterly dividend by 0.5 per cent to $0.002667 per common share.
**
GDI Integrated Facility Services Inc. (GDI-T) says its fourth-quarter revenue reached $344.2-million in the fourth quarter, an increase of $40.9-million over the fourth quarter of 2018. Analysts were expecting revenue of $333.1-million.
Its net loss of $0.9-million or 4 cents per share compared to net income of $3.2-million or 15 cents per share a year earlier. Adjusted net income was $3.4-million compared to $3.5-million a year earlier, or 16 cents for both periods. Analysts were expecting adjusted EPS of 16 cents.
**
Extendicare Inc. (EXE-T) reported fourth-quarter revenue of $290.9-million, up from $288.8-million a year earlier. Analysts were expecting revenue of $290-million.
Net earnings were $10.6-million or 11 cents per share versus $6.5-million or 7 cents a year earlier. Earnings from continuing operations were 5 cents versus a loss of 10 cents a year earlier.
**
Torc Oil & Gas Ltd. (TOG-T) reported a net loss of $60.6-million or 27 cents per share versus a loss of $24.4-million or 11 cents per share.
Adjusted funds flow ws $74-million or 33 cents per share versus $54.4-million or 25 cents a year earlier.
**
Major Drilling Group International Inc. (MDI-T) reported revenue of $81.7-million for its third quarter ended Jan. 31, up 2 per cent from the same quarter a year earlier.
Its net loss ws $9.9-million or 12 cents per share versus a loss of $15.9-million or 20 cents a year earlier. Analysts were expecting a loss of 8 cents.
**
GMP Capital Inc. (GMP-T) reported revenue from continuing operations of $8.4-million in fourth quarter 2019; up 8 per cent from $7.0 million reported in fourth quarter 2018. Its net loss from continuing operations was $5.3-million in fourth quarter compared with net income of $1.1-million in fourth quarter 2018.
**
goeasy Ltd. (GSY-T) announced it will acquire a consumer loan portfolio from Mogo Inc. (MOGO-T), which has a gross receivables balance of approximately $31.9-million and approximately 5,700 active customers, consisting of personal installment loans with terms of up to 5 years. The transaction also includes approximately $12.4-million of previously written off consumer loans and a commitment for Mogo to market and promote easyfinancial to its current and prospective members the company stated.
The transaction will also include a three-year lending partnership with Mogo after a successful five-month pilot that began in October 2019. Under this arrangement, goeasy will become Mogo’s exclusive provider of all non-prime consumer loans, the company stated.