Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Canaccord Genuity Group Inc. (CF-T) reported third-quarter revenue of $308.1-million up from $331.6-million a year ago. Adjusted net income was $30.5-million or 23 cents per share versus $36.8-million or 28 cents a year ago. Analysts were expecting revenue of $314.7-million and adjusted earnings of 18 cents per share.
Lucara Diamond Corp. (LUC-T) announced the recovery of an unbroken 549-carat white diamond “of exceptional purity” from its Karowe Diamond Mine in Botswana. The company said the discovery follows the recent recovery of a gem quality 176-carat stone from the same ore block.
Lucara said the Karowe mine has produced six diamonds greater than 100 carats so far this year. "Lucara will undertake a decision on the sale of the 176 and 549-carat diamonds in due course," the company stated.
Calian Group Ltd. (CGY-T) reported revenues of $99.2-million for its first quarter ended Dec. 31, up from the $79.9-million reported in the same quarter of the previous year and ahead of expectations of $90.7-million.
Net profit was $4.3-million or 54 cents per share, an increase from $3.4-million or 43 cents a year earlier. Adjusted EPS came in at 67 cents versus 48 cents a year earlier.
Net income was $8.1-million or 11 cents per share compared to a net loss of $18.1-million or 26 cents per share a year ago. Adjusted net income was $16.7-million or 22 cents per share compared to $12.4-million or 18 cents a year earlier
Analysts were expecting revenue of $81.6-million, earnings of 14 cents and adjusted earnings of 23 cents.
Innergex Renewable Energy Inc. (INE-T) announced a strategic alliance with Hydro-Québec “to form a new world-class alliance in renewable energy,” according to a release from Innergex. The company said the combination will “leverage the strong Québec know-how in renewable energy and power grid management into global opportunities.”
Hydro-Québec has made a $661-million investment in Innergex through a private placement of Innergex common shares at a price of $19.08 per share. "With this private placement, Hydro-Québec is now a key strategic investor in the corporation holding 19.9 per cent of the issued and outstanding common shares on a non-diluted basis," the company stated.
Héroux-Devtek Inc. (HRX-T) reported sales of $157.3-million for its third quarter ended Dec. 31, up 8.8 per cent from $144.5-million last year. Net income was $8.7-million or 24 cents per share versus $7.4-million or 20 cents a year earlier. Analysts were expecting revenue of $150.8-million and earnings of 26 cents in the latest quarter.
DIV and its wholly-owned subsidiary OX Royalties Limited Partnership entered into an acquisition agreement with Oxford to acquire the trademarks and certain other intellectual property rights utilized by Oxford in its pre-school, elementary and secondary school and post-secondary supplemental education business for $44-million, excluding a retained interest to be provided to Oxford through the issuance of limited partnership units of OX Royalties LP.
The acquisition will increase DIV’s tax pools by $44-million to $281-million, which can be depreciated over time to reduce DIV’s cash taxes, the company stated.
DIV’s board also has approved an increase in the company’s annual dividend from 23 cents per share to 23.5 cents per share effective March 1.