Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Docebo Inc. (DCBO-T) reported revenue of US$13.5-million, which the company said is an increase of 56.7 per cent from the same quarter last year. The revenue was ahead of expectations of US$12.4-million for the quarter.
Its net income of US$743,000 or 2 US cents for the quarter compared to a net loss of US$2.5-million or 11 US cents a year earlier.
The stock was up 4 per cent in early trading Tuesday.
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TransAlta Corp. (TA-T; TAC-N) reported first-quarter revenue of $606-million down from $648-million a year earlier. Analysts were expecting revenue of $508.8-million.
Net earnings came in at $27-million or 10 cents per share versus a loss of $65-million or 23 cents a year ago.
Funds from operations came in at $172-million or 62 cents per share for the quarter compared to $169-million or 59 cents a year earlier.
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High Liner Foods Inc. (HLF-T) reported first-quarter sales of US$268.6-million compared to US$277.4-million a year ago. Analysts were expecting revenue of US$260.6-million.
Net income was US$14.2-million or 41 cents US per share compared to US$14.8-million or 43 cents US per share a year earlier.
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Pinnacle Renewable Energy (PL-T) announced a dividend cut and said its first-quarter revenue of $109.7-million, compared to $89.6-million for the same quarter last year. Analysts were expecting revenue of $101.6-million in the latest quarter.
Its net loss of $4.1-million or 12 cents per share compared to a net loss of $7-million or 20 cents a year ago. Adjusted EBITDA totalled $4-million compared to $7.1-million a year earlier.
The company cut its dividend to an annual level of 15 cents per common share, or 3.75 cents quarterly, citing the uncertainty related to COVID-19. That compared to a quarterly dividend of 15 cents.
"With little foresight on how and when the COVID-19 pandemic will come to an end, management and the board made the difficult but prudent decision to reduce the dividend during this period," said CEO Rob McCurdy. "We have not seen a change in demand for industrial wood pellets and have strength with our long-term take-or-pay contracts supporting the company, however the lumber industry, particularly in B.C., is under pressure as the economy continues under stress, and this, in turn, will impact our fibre supply and increase our costs."
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MCAN Mortgage Corp. (MKP-T) reported a net loss of $9.7-million or 40 cents per share for the first quarter compared to net income of $14.3-million or 60 cents per share in the first quarter of 2019.
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Champignon Brands Inc. (SHRM-C) announced a $10-million bought-deal financing. It has an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Eight Capital to purchase 11,765,000 units at a price of 85 cents each. Each unit includes one common share and one half of one common share purchase warrant exercisable at a price of $1.15 for 24 months.
The company said it intends to use the net proceeds for its North American clinical expansion program and for general working capital purposes.
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Guyana Goldfields Inc. (GUY-T) issued a statement late Monday to confirm it has received an unsolicited takeover proposal from Gran Colombia Gold Corp. (GCM-T). It said the proposal is to acquire the company at a share exchange ratio of 0.142 Gran Colombia shares for each Guyana Goldfields share. The Gran Colombia proposal is conditional upon its proposed concurrent acquisition of Gold X Mining Corp. (GLDX-X)
On April 27, Guyana announced an agreement to be acquired by Silvercorp Metals Inc. (SVM-T). Guyana said it’s reviewing the Gran Colombia proposal.
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Absolute Software Corp. (ABT-T) reported revenue of US$26.1-million for its third quarter ended March 31, an increase of 5 per cent. Net income was US$2.3-million or 5 cents US per share, compared to US$2.5-million or 6 cents US a year earlier. Analysts were expecting revenue of US$25.6-million and earnings of 4 cents US per share
The company maintained its revenue outlook for fiscal 2020, saying it continues to expect it to be between US$103-million and US$106-million, representing annual growth of between 4-to-7 per cent.
It increased its expectation for adjusted EBITDA from between 18 and 22 per cent of revenue to between 21 and 25 per cent of revenue and said it continues to expect cash from operating activities to be between 16 and 22 per cent of revenue. The company lowered its expectation for capital expenditures from between US$3.5-million and US$4-million to between US$3-million and US$4-million.
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Rubicon Organics Inc. (ROMJ-C) announced it received its sales amendment from Health Canada to sell dried and fresh cannabis products for recreational use. “With the receipt of the sales license, Rubicon Organics is now able to directly sell its premium organic certified flower to all provincial and territorial distributors,” the company stated.
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Tilray Inc. (TLRY-Q) reported first-quarter revenue of US$52.1-million, up from US$23-million a year earlier. Analysts were expecting revenue of US$49.7-million.
"Growth was driven by cannabis sales, which experienced meaningful increases across all channels with the exception of bulk, and the inclusion of the Manitoba Harvest acquisition for a full quarter in 2020 compared to a partial quarter in the prior year," the company stated.
Its net loss was US$184.1-million, or US$1.73 per share, compared to a loss of US$29.4-million, or 31 cents US per share, for the first quarter of 2019. Adjusted EBITDA was a loss of US$19.7-million, compared to a loss of US$15.3-million in the first quarter of 2019.
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