Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Its net loss was $7.5-million or 2 cents per share compared to $12.3-million or 4 cents a year ago.
Village Farms International, Inc. (VFF-T) reported sales of US$39.7-million in its third quarter, a decrease from US$44.7 million a year ago. Its net loss of US$2-million or 4 cents per share compared with net income of $300,000 or a penny per share a year earlier.
"Kilograms of cannabis sold increased 213 per cent in the third quarter from 164 kilograms in the third quarter of 2017 to 514 kilograms in the third quarter of 2018," the company stated. "The main drivers associated with the increase in revenues and the increase in kilograms sold are increased production capacity and increased volumes sold through the domestic medical and international channels, as well as initial shipments into the domestic adult-use recreational market."
Its net loss was $7-million or 4 cents per share versus a profit of $1.1-million or a penny per share last year. Analysts were expecting a loss of 2 cents in the latest quarter.
Its net profit for the third quarter was $25.7 million or 69 cents per share compared to net profit of $16.2-million or 44 cents per share in the prior-year comparative quarter.
Analysts were expecting revenue of $166-million and earnings of 48 cents.
Net earnings came in at $19.6-million or 49 cents per share versus $32.8-million or 65 cents a year ago.
There was an expectation for revenue to come in at $143-million and earnings to be 58 cents per share in the latest quarter
The Supreme Cannabis Company, Inc. (FIRE-X) said it’s buying communications and stakeholder relations firm Bayfield Strategy, Inc.
Under the terms of the definitive agreement, Supreme Cannabis will issue $2-million worth of common shares to Bayfield shareholders in exchange for all of the issued and outstanding shares of Bayfield, the company stated.
DHX Media (DHX-T; DHXM-Q) reported revenue for its first quarter ended Sept. 30of $104-million up from $98.6-million the year-ago quarter. Its net loss was $2.4-million versus net income of $8.1-million a year ago.
Analysts were expecting revenue of $98.4-million and a loss of $3-million.
Cargojet Inc. (CJT-T) reported third-quarter revenues of $114.1 million, an increase of $24.7 million or 27.6 per cent versus the previous year and ahead of expectations of $105.3-million. Adjusted EBITDA was $31.5-million, an increase of $6.1-million or 24 per cent versus the previous year, the company stated.
ECN Capital Corp. (ECN-T) reported third-quarter adjusted net income applicable to common shareholders of US$21.3-million or 7 cents per share, which was in line with expectations and compared to $12.8-million or 3 cents per share for the same period last year.
Its net loss was US$57.5-million versus a loss of $40.6-million for the same period last year.
“With our transition to a business services company serving banks and financial institutions largely complete, I am excited to have a US$50-million EBITDA quarter,” said Steven Hudson, CEO of ECN Capital. “Further, we now expect 97 per cent of our [fourth quarter] adjusted operating income before tax to come from our new businesses.”
ECN Capital also announced it plans to sell the remaining railcar assets to GATX Corp. for proceeds of approximately US$229-million. The company said it recorded a total after-tax loss of US$38.5-million in the third quarter of 2018 on the sale.
New Look Vision Group Inc. (BCI-T) said its third-quarter revenues increased by 32 per cent over the same quarter last year to $72.9-million, which was slightly above expectations of $71.7-million. “This results mainly from the impact of the acquisition of Iris, as well as comparable store sales growth,” the company stated. Comparable store sales orders were up by 0.2 per cent, compared to the third quarter of last year.
Net earnings attributable to shareholders reached $4.9-million compared to $3.4-million last year, "the increase being attributable to higher EBITDA, offset partially by higher depreciation, financial expenses, and income taxes," the company stated.
Net earnings on a per share came in at 31 cents, which was in line with expectations and compared to 24 cents last year.
The Keg Royalties Income Fund (KEG.UN-T) reported sales from the 103 Keg restaurants in the royalty pool were $157.9-million for the third quarter, an increase of 6.8 per cent from the same quarter last year.
The Keg’s same-store sales increased by 2.3 per cent in Canada and by 6.3 per cent in the U.S.
Royalty income increased to $6.4-mllion from $6-million a year earlier. Comprehensive income was $2.9-million down from $10-million a year ago.
MORE TO COME