Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Calfrac Well Services Ltd. (CFW-T) reported revenue of $257.8-million, an increase of 43 per cent from the fourth quarter in 2020, “resulting primarily from improved activity in North America and Argentina,” it stated.
The expectation was for revenues of $263.8-million.
Its net loss of $28.3-million or 75 cents per share compared to net income of $125.9-million or $2.19 per share for the same period in 2021. The expectation was for a loss of 43 cents, according to S&P Capital IQ.
Net earnings in the fourth quarter came in at $1.5-million, or 14 cents per share, compared to $2.1-million, or 20 cents, in the comparative period of 2020.
The expectation was for revenue of $58.1-million and earnings of 20 cents per share..
Adjusted funds flow of $17.1-million or 22 cents compared to $3.3-million or 5 cents a year earlier.
Profit was $55.2-million or 71 cents per share compared to a loss of $3.2-million or 5 cents a year earlier.
CEO Lisa Crossley said the providers will add more than 2,000 new patients to its iUGO Care platform. The contracts include a one-time payment of $400,000 for hardware (medical monitoring devices) and are expected to generate an average recurring revenue of over $70 per patient per month, the company stated.
Its loss was $12.9-million or 21 cents per share compared to a loss of $4.9-million or 9 cents per share.
The expectation was for revenue of $16-million and a loss of 15 cents per share.
Endeavour Silver Corp. (EDR-T) announced a US$40-million bought-deal financing. The company said it has an agreement with a syndicate of underwriters, led by BMO Capital Markets and PI Financial Corp., which has agreed to buy 8,081,000 common shares for US$4.95 each.
The company said the principal objectives for the net proceeds are to pay the US$35-million cash consideration for its previously announced acquisition of the Pitarrilla project in Durango State, Mexico and for general corporate purposes and working capital.
Information Services Corp. (ISV-T) reported fourth-quarter revenue was $44.2-million, an increase of 13 per cent compared to the fourth quarter of 2020. “The increase was due to strong activity in the Saskatchewan real estate sector, which drove increased revenue in the Saskatchewan Land Registry, coupled with continued organic growth in our Services segment through integrated technology-driven product offerings,” the company stated.
Net income was $10.3-million or 57 cents per share compared to $7.9-million or 45 cents per share a year earlier. “The increase is due to the increased revenue in Registry Operations and Services, lower professional and consulting expenses in 2021 and a reduction in share-based compensation expense in the quarter,” the company stated.
The expectation was for revenue of $41-million and earnings of 47 cents per share in the latest quarter, according to S&P Capital IQ.
He most recently served as president and CEO of Eacom Timber Corp. for nearly a decade. Prior to that, he was with Millar Western Forest Products Ltd. in a series of increasingly senior roles, including serving as chief financial officer, the company stated.
Chesswood Group Ltd. (CHW-T) announced it would acquire Waypoint Investment Partners Inc., a Toronto-based investment fund and private client investment manager for about $1.6-million and the issue of 150,983 Chesswood common shares.
“The acquisition of Waypoint is an important step in building an integrated asset management platform within the Chesswood Group of Companies,” said Ryan Marr, CEO of Chesswood Group, who has a small minority shareholder interest (less than 8 per cent) in Waypoint.
Net income of $4.4-million or 8 cents per share compared to net income of $8.9-million or 18 cents a year earlier.
Northview Fund, formerly known as Northview Canadian High Yield Residential Fund, (NHF-UN-T) reported funds from operations of $16.1-million or 45 cents per unit in the fourth quarter, up from $9.2-million or 26 cents a year earlier. Adjusted FFO was $13.3-million or 37 cents per share versus $7.4-million or 21 cents a year earlier.
Its net loss was $18.2-million versus net income of $90.7-million a year earlier, the company stated in a release.
The Very Good Food Company Inc. (VERY-X) announced that it’s temporarily lowering production throughput and headcount to manage inventory levels. The company also said it’s putting in place initiatives, such as pausing non-critical capital expenditures and lowering selling general and administrative (SG&A) spending “to manage both short and long-term liquidity and to establish a path towards profitability.”
“As a result of the supply chain environment, we undertook certain stock safety measures to protect against stock outages,” stated CEO Mitchell Scott in a release. “This, in conjunction with retailer reset timing delays, has resulted in inventory being at levels that require us to lower production at some of our locations. This decision was made after a long and careful review of our options and will impact some of our production team members. We are thankful for their contributions.”
Very Good also said it’s currently reviewing its “go-to market” channels. “Digital marketing costs to acquire new customers have increased over the past year, largely related to structural changes of the largest digital and social platforms,” Mr. Scott stated. “This challenge has required us to review our online strategy and marketing expenditures to optimize our return on investment.”
The company also said it experienced “a greater than expected cash burn in the last several months” as it scaled its operations to meet its growth targets, “which has reduced its cash position and has strained its short-term liquidity.”
Star Diamond Corp. (DIAM-T) announced a $5-million non-brokered private placement of units at a price of 30 cents each. Each unit will include one common share and one common share purchase warrant, exercisable at a price of 40 for 24 months.
The company said $3-million of the offering is anticipated to be allocated to shareholders that subscribe under the existing shareholder exemption, it stated.
The net proceeds will be used in part to settle its current working capital deficiency of approximately $2.5-million.
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