Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Cineplex Inc. (CGX-T) reported a third-quarter profit of $13.4-million, up from $10.2-million in the same quarter last year as revenue rose 8.3 per cent helped by the new Lion King and Spider-Man movies.
The movie theatre company says the profit amounted to 21 cents per share for the quarter ended Sept. 30 compared with a profit of 16 cents per share a year earlier.
Revenue totalled $418.4-million, up from $386.4-million, as theatre attendance increased 1.8 per cent due to what Cineplex called a stronger film slate compared with last year.
Analysts on average had expected Cineplex to report a profit of 14 cents per share and $418-million in revenue, according to financial markets data firm Refinitiv.
-The Canadian Press
System-wide sales came in at $49.2-million compared to $45.8-million a year ago. Revenue was $5.9-million, which was in line with expectations and up from $5.6-million a year ago.
Its net loss was $415,000 compared to a loss of $446,000 a year ago.
Stelco Holdings Inc. (STLC-T) reported third-quarter revenue of $475-million down from $619-million a year ago, which the company said was primarily due to a decrease in average selling price for steel and non-steel sales. Analysts were expecting revenue of $452.3-million in the latest quarter.
Net income for the quarter of nil or a loss of 12 cents per share compared to income of $1.4-million or $1.96 a year ago. Adjusted EBITDA came in at $23-million versus $193-million a year ago.
Savaria Corp. (SIS-T) reported third-quarter revenue of $96.4-million, an increase from $72.1-million a year earlier and below expectations of $100.2-million. Adjusted net earnings were $8.1-million or 17 cents per share versus $4.5-million or 10 cents a year ago. Analysts were expecting EPS of 14 cents.
The company also lowered its full-year revenue forecast to a range between $370-million and $380-million.
“The decrease in revenue from previously disclosed outlook is mainly due to the corporation’s decision to exit from Span’s custom products market segment which had a more pronounced impact than anticipated,” it stated in a release. “As well, flat organic growth within Span’s U.S. medical business, lower Adapted Vehicles segment revenue, and focus put upon the integration of Garaventa Lift throughout the year, also had an impact.”
It also said the decision to exit Span’s "lower margin custom products business, combined with realized synergies from the integration of Garaventa Lift, and continued cost containment efforts," means it will "significantly improve its consolidated adjusted EBITDA margin profile."
Savaria said it "remains confident in its ability to achieve its full-year $55-million to $60-million adjusted EBITDA guidance, albeit at the lower end of the range."
"The increase was driven by additional and inflationary increases in flow-through funding in LTC [long-term care], as well as annual rental rate increases in [the] retirement," portfolio, the company stated.
Net income was $3.8-million or 5.7 cents per share down from net income of $5-million or 7.6 cents per share a year ago.
“The decrease was primarily related to fair value adjustments on interest rate swap contracts, incremental interest expense and depreciation and amortization incurred from the 2018 acquisitions and an increase in mark-to-market adjustments on share-based compensation, partially offset by lower transaction costs and NOI [net operating income] growth,” the company stated.
Revenue decreased by 6.3 per cent to $158.5-million year-over-year, "driven by negative foreign exchange translation impacts from the strengthening U.S. dollar, the effect of passing through resin price reductions and a reduction in sales volumes."
Analysts were expecting revenue of $175-million and earnings of 14 cents per share.
Funds from operations came in at $12.5-million or 23 cents per share versus $12.4-million or 23 cents a year ago. Adjusted FFO of 20 cents per share, which was in line with a year ago and above expectations of 17 cents.
PRO Real Estate Investment Trust (PRV.UN-T) reported third-quarter property revenue of $13.2-million up from $10.2-million a year ago. Net operating income was $8.5-million compared to $6.6-million for the same period last year.
Funds from operations came in at $4.4-million or 12 cents per unit versus $3.3-million or 13 cents a year ago. Adjusted FFO was 14 cents, in line with a year ago and ahead of expectations of 12 cents.
The Westaim Corp. (WED-X) reported a net profit of US$3.7-million or 3 cents US per share for the three months ended Sept 30, compared to a net profit of US$4.4-million or 3 cents US per share for the same period last year. Westaim’s principal investments consist of the Arena Group and HIIG, through the HIIG Partnership.
Chorus Aviation Inc. (CHR-T) reported third-quarter net income of $24.2-million or 15 cents per share, a decrease of $0.6 million over the 2018 period excluding the quarter-over-quarter change in net unrealized foreign exchange losses on long-term debt of $18.9-million.
Adjusted net income of $29.2-million or 18 cents per share was down from $30.8-million a year ago and slightly below expectations of 19 cents.
Operating revenue of $351.5-million compared to $342-million a year ago and slightly below expectations of $352.7-million.
Supremex Inc. (SXP-T) reported third-quarter revenue of $45.2-million, consistent with the third quarter of 2018. Net earnings of $1.2-million or 4 cents per share were also in line with the third quarter of 2018.
Analysts were looking for revenue of $48.7-million and earnings of 3 cents per share.
Goodfood Market Corp. (FOOD-T) reported revenue of $45.3-million in its fourth-quarter ended Aug. 31, compared to $21.4-million in the same period last year.
Its net loss was $5.9-million or 10 cents per share versus a loss of $3-million or 6 cents per share a year ago. Analysts were expecting a loss of 11 cents and revenue of $43.8-million.