Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Canaccord Genuity Group Inc. (CF-T) reported revenue of $325.5-million for its first fiscal quarter ended June 30, up 18.7 per cent from $274.1-million for the same quarter last year. Net income attributable to common shareholders was $21.9-million, an increase from $15.3-million a year earlier. Earnings per share came in at 18 cents, which was in line with expectations and up from 14 cents a year ago.
**
Pollard Banknote Ltd (PBL-T) reported second-quarter sales of $97.1-million compared to $86.8-million for the same time last year. Net income was $5-million or 20 cents per share, which was consistent with the same period a year ago. Analysts were expecting revenue of $96.7-million and earnings of 23 cents.
**
Stingray Group Inc. (RAY.A-T; RAY.B-T) reported revenues for its first quarter ended June 30 increased 133.4 per cent to $80.4-million versus a year ago, which was in line with expectations. “The increase was primarily due the acquisition of Newfoundland Capital Corp., combined with the acquisition of DJ Matic and Novramedia and organic growth in subscription video-on-demand,” the company stated.
Net income of $9.2-million or 12 cents per share compared to a net income of $1.3-million or 2 cents a year ago. Adjusted net income came in at 21 cents versus 10 cents a year ago and ahead of expectations of 19 cents.
The company also increased its quarterly dividend by 7.7 per cent to 7 cents per share compared with the last quarter.
**
Gibson Energy Inc. (GEI-T) reported second-quarter revenue of $1.93-million up from $1.7-million a year earlier. Net income came in at $34.7-million or 24 cents per share versus net income of $15.2-million or 11 cents a year ago. Analysts were expecting revenue of $1.85-million and earnings to come in at 13 cents.
**
Holloway Lodging Corp. (HLC-T) announced that it has sold the Travelodge hotel in Sydney, N.S. for $5.1-million and its leasehold interest in the Super 8 hotel located in Truro, N.S. for $3-million.
Holloway stated that it received approximately $7.7 million of proceeds after closing costs and expects to use the net sale proceeds to repay $4.8-million of its amortizing term loan and $2.9-million of its revolving credit facility.
**
Bird Construction Inc. (BDT-T) announced that it has signed multiple contracts for services “for an undisclosed amount” at an LNG Liquefaction Export Terminal Facility in northwestern B.C.
“The contracts include a site civil works program and the engineering, procurement, and construction of 16 administrative and service buildings,” the company stated. It said the contracts will start immediately and continue into 2022.
**
Badger Daylighting Ltd. (BAD-T) reported second-quarter revenue of $161.2-million, which was up 9 per cent from $147.6-million in the second quarter of 2018.
Net profit was $12-million or 33 cents per share up from $10.6-million or 29 cents a year earlier. Analysts were expecting revenue to come in at $166.7-million and earnings of 45 cents per share.
**
Dream Industrial REIT (DIR.UN-T) reported net income of $84-million in the second quarter, up from $16.2-million a year earlier. “The increase in net income over the respective periods was mainly attributable to higher net rental income from internal growth, growth from acquisitions, and fair value adjustments to investment properties in the Ontario and Québec regions,” the REIT stated.
Net rental income was $35.2-million versus $27.7-million last year. "The increase was mainly due to higher net rental income from investment properties acquired in 2018 and 2019," the REIT stated.
Funds from operations (FFO) came in at $27.6-million up from $20.1-million last year. Diluted FFO per share came in at 20 cents versus 21 cents a year earlier, which was ahead of expectations of 18 cents per share.
**
Home Capital Group Inc. (HCG-T) reported second-quarter net income of $31.9-million or 53 cents per share, compared with net income of $29.6-million or 37 cents per share for the same quarter last year. Adjusted net income of $34.7-million or 58 cents per share was up 56.8 per cent from 37 cents per share a year ago and beat expectations of 52 cents per share. Mortgage originations of $1.28-billion compared with $1.23-billion a year earlier.
**
Sprott Inc. (SII-T) says Sprott Asset Management LP is buying the gold strategies of Tocqueville Asset Management. Based on current asset levels, the transaction will potentially add US$1.9-billion to Sprott’s assets under management, the company stated.
“We are pleased to be acquiring Tocqueville’s gold strategy asset management business,” said Whitney George, president of Sprott. “John Hathaway and his team are among the world’s most respected gold equities managers and we have enjoyed an excellent working relationship during the planning and launch of our joint venture over the past year. This transaction is a natural extension of that partnership, through which John will become a Sprott shareholder. We look forward to working closely together to serve our clients.”
**
High Liner Foods Inc. (HLF-T) said second-quarter sales decreased to US$223-million compared to US$245.3-million a year ago which was below expectations of US$240.6-million. Net income decreased US$900,000 or 3 cents US per share compared to US$2.8-million or 8 cents US a year ago. “The decrease in net income reflects higher income taxes, termination benefits associated with the organizational realignment announced in November 2018, consulting fees related to the company’s critical initiatives and higher depreciation and amortization expense,” the company stated. Adjusted EPS came in at 13 cents which was ahead of expectations of 11 cents and compared to 11 cents a year ago.
**
SunOpta Inc. (STKL-Q; SOY-T) reported second-quarter revenues of US$293-million compared to $319.3-million in the second quarter of 2018 and below expectations of US$302.7-million. Its loss attributable to common shareholders of US$11.1-million or 13 cents US per common share compared to a loss attributable to common shareholders of US$5.1-million or 6 cents US per common share in the second quarter of 2018. Analysts were expecting a loss of 9 cents US in the latest quarter.
**
MAV Beauty Brands Inc. (MAV-T) reported revenue of US$25.2-million for the second quarter, up 10.3 per cent from US$9.8-million a year ago and below expectations of US$26.2-million. Net Income of US$1.2-million or 3 cents US per share was up from a net loss of $3-million or 21 cents US per share a year ago. Adjusted earnings came in at 6 cents US per share versus expectations of 7 cents US and compared to 4 cents US for the same quarter last year.
**
Uni-Select Inc. (UNS-T) reported consolidated sales of $456.2-million for the second quarter versus $461.6-million a year ago and below expectations of $462.5-million. Net earnings were $6.3-million or 15 cents compared to $17.9-million or 42 cents a year ago. Adjusted earnings came in at 25 cents per share versus 44 cents a year ago. The expectation was for adjusted earnings of 26 cents per share.