Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Mullen Group Ltd. (MTL-T) reported revenue of $314.6-million for the fourth quarter, down from $333.3-million for the same time a year earlier.
Net income increased by $89.5-million to $8.4-million or 8 cents per share. The company noted there was an impairment of goodwill of $100-million recorded by certain business units in the fourth quarter of 2018, "due to the significant deterioration of industry conditions."
Adjusted net income was $5.6-million or 5 cents per share versus adjusted net income of $16.9-million or 16 cents a year earlier. Analysts were expecting revenue of $320.7-million, earnings of 13 cents and adjusted earnings of 14 cents, according to S&P Capital IQ.
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Aurora Cannabis Inc. (ACB-T) says it incurred a loss in its second quarter that was fuelled by a recent $1-billion writedown taken by the company.
The Edmonton-based business says net revenue for the three months ended Dec. 31 was $56 million, up from $54.2 million a year earlier but down from roughly $75 million in the prior quarter ended Sept. 30.
The company’s net income and earnings per share weren’t included in its press release.
Aurora’s earnings report comes a week after chief executive Terry Booth stepped down, the company undertook $1 billion in goodwill writedowns and announced a 500-employee layoff as part of a restructuring of its spending plans.
It says the adjusted EBITDA loss for the third quarter widened to 80.2 million from $39.7 million in the quarter before, due to the revenue decline and increased production costs associated with the launch of cannabis edibles and vapes.
Aurora was further hampered because it produced 30,691 kilograms of cannabis compared with 41,436 kilograms in the quarter before as it changed its cultivation strategies to accommodate more high-value and high potency strains.
Aurora expects its revenues to be impacted by similar headwinds in the next quarter and anticipates that it will experience either modest or no growth.
-The Canadian Press
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Killam Apartment REIT (KMP.UN-T) reported net income of $126.8-million in the fourth quarter compared to $44.3-million for the year-ago period, “due to strong operating performance, contributions from acquisitions and fair value gains on investment properties.”
Funds from operations (FFO) per unit was $25-million or 25 cents per unit, an increase from $20.6-million or 23 cents a year ago. Adjusted FFO was 21 cents, which beat expectations of 20 cents and compared to 18 cents a year earlier.
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goeasy Ltd. (GSY-T) reported a record $314-million of total loan originations in the fourth quarter, which it said was up 18 per cent from the $265-million in the fourth quarter of 2018.
Revenue for the fourth quarter increased to a record $166-million, up from $138.2-million in the same period in 2018.
Net income was $6.7-million or 46 cents per share versus $15.8-million or $1.02 a year earlier. Adjusted net income was $22.6-million or $1.45 per share. Analysts were expecting revenue of $163.9-million and adjusted EPS of $1.41
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Andrew Peller Ltd. (ADW.A-T; ADW.B-T) reported sales of $101.6-million for its third quarter ended Dec. 31 compared to $103.2-million for the year-earlier period.
Net earnings were $8.1-million or 19 cents per Class A share (16 cents for Class B shares) compared to earnings of $5.4-million of 13 cents per Class A share (11 cents per Class B share) in the prior year.
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Tucows Inc. (TCX-Q; TC-T) reported fourth-quarter revenue of $85.9-million, up slightly from $85.6-million for the fourth quarter of 2018. Net income increased 30 per cent to $5.8-million or 54 cents per diluted share from $4.4-million or 41 cents per diluted share a year earlier.
The company also announced a $40-million buyback program.
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Yellow Pages Ltd (Y-T) reported fourth-quarter revenues of $93.5-million down from $124.5-million for the same period last year “due to lower digital and print revenues” as well as divestitures. Analysts were expecting revenue of $95-million in the latest quarter.
Net earnings of $53.6-million or $1.02 per share versus $40-million or $1.28 per share a year earlier.
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New Gold Inc. (NGD-T; NGC-N) reported fourth-quarter revenues of US$139.2-million down from US$157.4-million a year ago.
Net earnings from continuing operations for the quarter was US$0.3 million or nil per share versus a loss of US$1.28 per share a year earlier.
It's adjusted net loss from continuing operations for the quarter was US$28-million or 4 cents US per share.
Analysts were expecting an adjusted loss of 3 cents US and revenue of US$147.6-million.
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Boston Pizza Royalties Income Fund (BPF.UN-T) and Boston Pizza International Inc. (BPI) reported same-restaurant sales (SRS) fell 2.1 per cent for the fourth quarter versus the year-ago period.
System-wide gross sales of $276.5-million was a drop of 0.7 per cent versus the same period a year earlier. Its net loss was $4.6-million compared to a loss of $1-million for the fourth quarter of 2018.
The company also lowered its monthly distribution by 1.3 cents or 11.3 per cent to 10.2 cents per unit, representing an annual distribution rate of $1.22 per unit compared to the previous annual distribution rate of $1.38 per unit.
“Adjusting the distribution level to align with anticipated future revenues provides the fund with greater certainty over its ability to sustain distributions into the foreseeable future,” stated said Marc Guay, chairman of the Fund.