Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Héroux-Devtek Inc. (HRX-T) reported sales of $131.1-million for its third quarter ended Dec. 31, down from $150.3 million last year. The company said the drop was mainly related to delayed deliveries resulting from supply chain and production system disruptions. The results were below Street expectations of $144.6-million, according to S&P Capital IQ.
Adjusted net income came in at $6.5-million or 18 cents per share versus $9.4-million or 24 cents last year.
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Boston Pizza Royalties Income Fund (BPF.UN-T) reported revenue of $7.8-million for the fourth quarter compared to $11.3-million a year ago.
Net income was $12.6-million or 59 cents per share compared to $19.6-million or 91 cents for the fourth quarter of 2020.
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Drone Delivery Canada Corp. (FLT-X) announced the appointment of Steve Magirias as its CEO, effective Feb. 22.
Mr. Michael Zahra departs as president and CEO and has also resigned from the board, the company stated. It said Mr. Zahra will remain on the advisory board.
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Converge Technology Solutions Corp. (CTS-T) announced it has acquired German-based organization Visucom GmbH along with its subsidiary, School Supplies 4.0 GmbH for €5.7 million in cash.
The company said the purchase multiple is approximately three times adjusted EBITDA for the trailing 12-month period ended Dec. 31.
Converge said the cash portion of the purchase price was financed by its recent equity raise.
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NFI Group Inc. (NFI-T) announced that its subsidiary New Flyer of America Inc. has received a new contract from Denver’s Regional Transportation District (RTD) for 17 battery-electric, zero-emission Xcelsior Charge Ng 40-foot heavy-duty transit buses. The company said the contract marks New Flyer’s first battery-electric bus order from RTD.
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Medicenna Therapeutics Corp. (MDNA-T) reported a net loss of $4.8-million or 9 cents per share, compared to a net loss of $5.3-million or 11 cents per share a year ago. The company said the decrease in net loss was primarily a result of lower research and development expenses.
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Osisko Development Corp. (ODV-X) announced a $40-million bought deal financing. The company said it has a letter of engagement with a syndicate of underwriters to buy nine million subscription receipts of the company for $4.45 per each.
Each unit will include one common share and one common share purchase warrant entitling the holder to purchase one additional common share at a price of $7.60 each for 60 months.
The company said it intends to use the net proceeds to advance the development of its mineral assets, including the Cariboo Gold Project, the San Antonio Gold Project and properties held by Tintic and for general corporate purposes.
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Mullen Group Ltd. (MTL-T) announced that its subsidiaries APPS Cartage Inc. and APPS Cargo Terminals Inc. have entered into a multi-year agreement with Canadian National Railway (CNR-T) for the railway to continue providing intermodal services to APPS Transport.
“This multi-year agreement provides for the movement of all forms of goods throughout Canada,” Mullen Group stated.
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WildBrain Ltd. (WILD-T) reported revenue of $153.2-million for its second quarter ended. Dec. 31, compared with $142.3-million in the prior year. The results beat expectations of $129.4-million, according to S&P Capital IQ.
Net income was $4.6-million or 3 cents per share vs net income of $11.3-million or 7 cents a year ago.
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Silvercorp Metals Inc. (SVM-T) reported revenue of US$59.1-million for its third quarter ended Dec. 31, up 11 per cent compared to US$53.3 million in the prior-year quarter. Analysts were expecting revenue of US$58.4-million for the most recent quarter.
Net income attributable to equity shareholders of US$5.1-million or 3 cents US per share, compared to US$8.4-million or 5 cents US per share in the prior-year quarter. “The decrease was mainly due to a mark-to-market charge of US$8.5-million against equity and bond investments in the current quarter,” the company stated.
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Stingray Group Inc. (RAY.A-T; RAY.B-T) reported revenue of $76-million for its third quarter ended Dec. 31 versus $72.6-million a year ago. Analysts were expecting revenue of $78-million, according to S&P Capital IQ.
“The increase was primarily due to the gradual easing of COVID-19 restrictions and the return to normal commercial operations as well as an increase in advertising revenues in the Broadcast and Commercial Music segment,” the company stated.
Net income totalled $12.5-million or 18 cents per share compared to $14.1-million or 19 cents per share a year ago. “The decrease was mainly related to lower operating results, partially offset by a positive change in fair value of investments following the loss related to the sale of securities held in AppDirect Inc. in Q3 2021,” the company stated.
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