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 $20.1-million or 72 cents per share compared to a loss of $3.5-million or 15 cents a year ago.
Summit Industrial Income REIT (SMU.UN-T) said its second-quarter revenue from investment properties was $46.3-million up from $34.1-million a year ago. Analysts were expecting revenue of $48.2-million. Net rental income was $34.5-million versus $24.4-million a year ago.
Net income was $24.8-million or 18 cents a unit versus a loss of $38.1-million or 36 cents last year.
Funds from operations were $23.3-million or 17 cents per share versus $15.8-million or 15 cents a year ago. Analysts were expecting FFO of 16 cents per unit.
Net income was $9.8-million or 11 cents per share versus $16.4-million or 18 cents a year earlier.
Analysts were expecting revenue of $308.2-million and earnings of 7 cents per share.
Minto Apartment Real Estate Investment Trust (MI.UN-T) announced a 3.4-per-cent increase to its monthly distribution and reported second-quarter revenue was $31.3-million up from $24.8-million a year ago. Analysts were expecting revenue of $30.6-million.
Net income was $12.1-million compared to $48.8-million a year earlier.
Funds from operations came in at $12.7-million or 21 cents per unit, which was in line with expectations and compared to $9.8-million or 21 cents a year ago.
The REIT is also increasing its monthly cash distributions to 45.5 cents from 44 cents on an annualized base. "This measured distribution increase reflects the REIT's strong AFFO [adjusted funds from operations] growth, relatively low AFFO payout ratio and strong liquidity position," it stated.
Its net loss was US$18.3 million or 5 US cents per share for the second quarter compared to a net loss of US$25.5-million or 9 US cents a year ago. Analysts were expecting a loss of 5 US cents per share in the latest quarter.
Harvest also increased its full-year 2020 revenue target to US$215-million to US$220 million, up from the prior target of approximately US$200-million.
Its net loss was US$51.9-million or 20 US cents per share compared to a net loss of US$54.1-million or 21 US cents a year ago. Its adjusted loss was 15 US cents per share versus 3 US cents a year earlier.
Analysts were expecting revenue of US$182.3-million and an adjusted loss of 20 US cents per share.
Net income was $5.3-million or 10 cents per share down from $8.5-million or 16 cents at the same time last year. Adjusted EPS was 17 cents, versus expectations of 4 cents for the quarter and compared with 19 cents a year ago.
Adjusted EBITDA was $26.8-million compared to $28.5-million a year ago.
Westport Fuel Systems Inc. (WPRT-T; WPRT-Q) announced its has secured a €7-million loan from Deutsche Bank “to improve liquidity during the COVID-19 pandemic and finance capital investments for long-term growth.”
The company said the six-year term loan was issued to Westport Fuel Systems’ Italian subsidiary, Emer S.p.A, under the Italian government’s Decreto Liquidità (“Liquidity Decree”), which it said is an enhanced framework of business support established to help manage the challenges of COVID-19. “This loan provides Emer with improved liquidity for working capital, payroll, and capital investments,” the company said.
Net income of $5.6-million compared with a net income of $1-million. Adjusted earnings came in at $6.6-million or 15 cents per share versus $1-million or 2 cents a year earlier.
Net earnings were $47.4-million or 22 cents per share versus net earnings of $3.8-million or 2 cents. Adjusted EPS in the quarter was 6 cents versus 2 cents a year earlier.
Docebo Inc. (DCBO-T) announced a $75-million bought-deal offering of common shares that includes holdings by CEO Claudio Erba, a company he controls, Gresilent Holding Srl, and merchant bank Intercap.
The selling shareholders have entered into an agreement with an underwriting syndicate led by Canaccord Genuity Corp., TD Securities Inc., Morgan Stanley and Goldman Sachs Canada Inc. to complete a new issue and secondary offering that includes 1.5 million shares at $50 each to the company and the selling shareholders. Docebo shares closed at $52.67 on Tuesday.
Under the agreement, 500,000 common shares will be issued from treasury and offered by Docebo for aggregate gross proceeds of $25-million and one million common shares will be offered by the selling shareholders for aggregate gross proceeds of $50-million.
Docebo said it intends to use the net proceeds "primarily to strengthen the company's financial position and allow it to pursue its growth strategies... ."
Docebo said it will not receive any of the proceeds of the sale of common shares by the selling shareholders.
After the offering closes, Intercap will hold 58.4 per cent of the company shares, down from about 62.2 per cent. Mr. Erba will hold about 5.1 per cent, down from about 5.6 per cent.
Its loss was $400,000 or a penny per share versus a loss of $20-million or 4 cents a year earlier. Analysts were expecting a loss of 4 cents.
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