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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

MDA Ltd. (MDA-T) reported a fourth-quarter profit of $600,000 compared with a loss of $12.6 million in the last three months of 2020 as its revenue rose 15 per cent.

The satellite and space technology company said the profit amounted to less than a penny per diluted share for the quarter ended Dec. 31, compared with a loss of 16 cents per diluted share a year earlier.

Revenue totalled $115.5 million, up from $100.2 million in the fourth quarter of 2020.

Excluding the impact of the Canadian Emergency Wage Subsidy program, MDA says its adjusted earnings before interest, taxes, depreciation and amortization for the quarter totalled $26.0 million, up from $21.7 million a year earlier.

The company’s backlog stood at $864.3 million at Dec. 31, up from $562.5 million at the end of 2020.

Earlier this month, MDA announced it won a $269-million contract from the Canadian Space Agency for the next phase of the Canadarm 3 program that will see the company complete the preliminary design of the robotics system.

- The Canadian Press


Hut 8 Mining Corp. (HUT-T), a digital asset mining company, reported a loss of $111.2-million or 67 cents per share in the fourth quarter versus a profit of $27.3-million or 28 cents a year earlier. Adjusted EBITDA was $35.3-million versus $1.6-million a year earlier.

Revenue of $57.9-million compares to $13-million a year earlier. The expectation was for revenue of $63.5-million.


Glass House Brands Inc. (GLAS-A-U-NE) reported fourth-quarter net sales increased to US$18.4-million from US$16.9-million a year earlier.

Its net loss was US$18.8-million versus a loss of US$4.1-million a year earlier.


Fusion Pharmaceuticals Inc. (FUSN-T), a Hamilton-based clinical-stage oncology company, announced a fourth-quarter net loss of $17.2-million or 40 cents per share, compared with a net loss of $13.4-million or 32 cents per share for the same period in 2020.

The expectation was for a loss of 46 cents in the latest quarter.


Imperial Metals Corp. (III-T) reported fourth-quarter revenue of $29.3-million compared to $36.9-million in 2020.

Its loss of $14.7 million or 10 cents per share compared to a net loss of $4.9 million or 4 cents per share) in the prior-year quarter.


Vista Gold Corp. (VGZ-T) announced that CIBC Capital Markets has been appointed as its strategic advisor to lead a formal process to help the company in “evaluating a broad range of alternatives to unlock the value” of its Mt Todd gold project and “arranging an accretive transaction.”

CEO Frederick Earnest said the company is “focused on maximizing shareholder value through [the] realization of the intrinsic value of the world-class Mt Todd project.”


Xebec Adsorption Inc. (XBC-T), a global provider of sustainable gas technologies, reported fourth-quarter revenue of $45.9-million compared to $6.4-million a year earlier. The expectation was for revenue of $43.9-million.

Net income of $2.4-million or 2 cents per share compared to a net loss of $28.3-million or 26 cents per share a year earlier.


Avino Silver & Gold Mines Ltd. (ASM-T) reported fourth-quarter revenues of US$9.3-million, an increase from US$1.4-million a year earlier.

Net income from continuing operations of US$2.6-million or 3 US cents per share was in line with expectations and compared to a loss of US$1.6-million compared to 2 US cents a year earlier.


Chesswood Group Limited (CHW-T) and investment manager Castlelake L.P. announced an agreement for the forward purchase of diversified equipment loan and lease receivables originated by Chesswood subsidiaries Pawnee Leasing Corporation and Tandem Finance Inc.

Through the agreement, vehicles managed by Castlelake will acquire up to $400-million of small-ticket equipment loan and lease receivables, the companies stated in a release. “The funds from the forward flow agreement are expected to enable Chesswood’s subsidiaries to continue growing originations alongside market demand by providing off-balance sheet funding for loan originations,” the release stated.


TerrAscend Corp. (TER-CN) reported sales of US$49.2-million in the fourth quarter, compared US$49.6-million a year earlier. Adjusted EBITDA was US$11.9-million as compared to US$19.3-million a year earlier, the company stated.

Its net loss was US$5.9-million versus a loss of US$94-million a year earlier.


Step Energy Services Ltd. (STEP-T) reported fourth-quarter revenue of $158.7-million up from $71.6-million a year earlier and ahead of expectations of $140.1-million.

Its net loss was $6.2-million or 8 cents per share an improvement from the net loss of $17-million or 25 cents a year earlier. The expectation was for a loss of 3 cents in the latest quarter, according to S&P Capital IQ.


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