Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Reitmans Canada Ltd. (RET.A-T) reported sales of $263.4-million for the fourth quarter as compared with $248.4-million a year earlier. The most recent quarter included an additional week of sales of $13.3-million, the company said.
Same-store sales increased 3.2 per cent, with store sales decreasing 1.1 per cent and e-commerce sales increasing 34.3 per cent, it said.
The net loss for the fourth quarter was $2.6-million or 4 cents per share as compared with $300,000 or nil per share a year earlier.
Novagold Resources Inc. (NG-T) reported a loss of US$8.2-million or 3 cents per share in the quarter ended Feb. 28 compared to a loss of US$10.1-million of 3 cents for the same period a year earlier. The expectation was for a loss of 4 cents in the most recent quarter.
Corus Entertainment Inc (CRJ.B-T) said it beat quarterly profit expectations as it cut costs and gained from TV merchandising and distribution.
The company which operates a network of radio stations and children’s TV channels including YTV, Nickelodeon and Cartoon Network, said its merchandising and distribution revenue rose 24.6 per cent during the quarter.
Costs fell 3.3 per cent compared to the year-ago quarter.
On an adjusted basis, the company earned 20 Canadian cents per share. The average analyst expectation was for 11 Canadian cents, according to Thomson Reuters I/B/E/S.
Corus, which bought Shaw Media from its sister concern Shaw communications, is focusing on producing original content and selling it abroad to counter competition from online streaming services like Netflix.
Net income attributable to shareholders rose to $40.0 million, or 19 cents per share in the second quarter ended Feb. 28, from $24.9 million, or 12 cents per share, a year earlier.
Revenue rose to $369.5-million from $368.2-million.
“While the company continues to streamline and focus its operations, the board made the decision to reduce its size and increase its focus as well,” said chairman Robert MacLellan. “The board is unanimous in endorsing the company’s new management team and its strategy.”
Trilogy Metals Inc. (TMQ-T), a metals exploration company focused on the Ambler mining district located in northwestern Alaska, reported a loss of $2.9-million or 3 cents per share in its first quarter, which was in line with expectations and compared to a net loss of $3-million or 3 cents for the same quarter a year earlier.
“Mobilethink’s portfolio is highly complementary with the Enghouse Networks portfolio,” said Sunil Diaz, general manager of Enghouse Networks. “It expands our Mobile Value Added Services, MVNO, Internet of Things and Customer Experience Management solutions with advanced device management, over the air configuration and business intelligence capabilities.”
ICC Labs Inc. (ICC-X) says it and one of its Uruguayan subsidiaries have entered into a “framework collaboration agreement” with the Pasteur Institute of Montevideo, a Uruguayan foundation devoted to biomedical research.
As pat of the agreement, ICC Labs will provide the Pasteur Institute with various cannabinoid extracts and the Pasteur Institute will conduct scientific and medicinal research programs, the company said.
ICC Labs also announced its first research program with the Pasteur Institute. ICC Labs will provide US$400,000 in funding over two years, and three phytocannabinoid extracts to the program. The Pasteur Institute “will conduct various scientific and medicinal research activities designed to ascertain potential effects of the phytocannabinoids on immune response, neuroprotection and intestinal microbiota.”
Calian Group Ltd. (CGY-T) says it has been awarded a contract renewal worth up to $20-million in support of the Royal Canadian Air Force’s (RCAF) Airworthiness Program.
“Calian will provide highly skilled professionals with expertise in 66 different categories of aeronautics to help ensure Canada’s military fleet flies safely and effectively,” the company said. “The first year of the contract starts immediately and will run to March 31, 2019. The contract award includes two additional option years, with an aggregate contract value of approximately $20 million over the three years.”
Theratechnologies Inc. (TH-T) reported record first quarter net sales of $10.2-million, up 13 per cent from the same quarter last year. Its net loss was $2.6-million or 4 cents per share compared to a net loss of $2.2-million or 3 cents a year earlier.
The expectation was for revenue of $10.8-million and a loss of 5 cents per share.
Orocobre Ltd. (ORL-T), a global lithium carbonate supplier, says its expects full-year production will be less than the previous guidance of approximately 14,000 tonnes, citing “adverse weather condition.”
It said more detail will be provided in the March quarterly report, but full-year production is expected to be 10-per-cent lower than expected.
“While I recognize this change in production guidance is very disappointing, the adverse weather conditions were outside of our control,” said CEO Richard Seville. “Of the operational metrics that are in our control, I am pleased to report that we have seen improvements with greater stability of operations and despite the weather being worse when comparing solar radiation, rainfall and evaporation rate, we are in a significantly stronger position than this time last year.”
Grande West Transportation Group Inc. (BUS-X) reported fourth-quarter revenue of $12.5-million compared to $1.4-million in the fourth quarter of the previous year end. “This represented 33 deliveries versus four deliveries in the previous period,” the company said in its MD&A documents filed today on Sedar. “The increase is due to the company receiving increased orders and obtaining the necessary financing to manufacture the buses.”
Gross margin was 11 per cent in the quarter as compared 7 per cent in the fourth quarter of the previous year. “The increase in margins is due to the increase in selling price of the Vicinity bus,” the company said.