Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Plaza Retail REIT (PLZ.UN-T) reported funds flow from operations of $9.2-million or 9 cents per share for the fourth quarter, which was in line with expectations and compared to $8.2-million of 8 cents a year earlier. Profit was $8-million compared to a profit of $1.1-million a year earlier.
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Dirtt Environmental Solutions Ltd. (DRT-T; DRTT-Q) reported revenue of US$53.2-million for the fourth quarter, down from US$74.4-million reported in the prior-year period.
"In the fourth quarter, we experienced continued disruption in sales activity levels, particularly with respect to larger size projects, stemming from the distraction of significant management changes during 2018 on a long sales cycle combined with the immature and transitional state of our sales and marketing function," the company stated.
Its net loss was US$7.5-million or 9 US cents per share compared to net income in the prior-year period of US$3.1 million or 4 US cents share.
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Slate Retail REIT (SRT.UN-T) reported rental revenue of US$34.3 million down from US$36.3-million a year ago. “The decrease is primarily due to the disposition of 10 properties and seven outparcels, partially offset by rental rate growth from re-leasing at rates above in-place rents, new leasing and the acquisition of an interest in one property,” the company stated.
Funds from operations was US$12.7 million or 29 US cents per unit which was in line with expectations and compared to US$13.5-million or 30 US cents a year ago.
Net income was US$14-million versus a loss of US$9-million a year ago. “The increase is attributed to the change in fair value of properties, partially offset by increased disposition costs ...,” the company stated.
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Medical Facilities Corp. (DR-T) announced it has sold the majority of its interest in Unity Medical and Surgical Hospital (UMASH) to a group of local investors, including leading physicians affiliated with South Bend Orthopaedics, The South Bend Clinic, and Allied Physicians of Michiana.
"After actively pursuing various strategic alternatives, our plan to improve UMASH has come together," said Robert Horrar, CEO of Medical Facilities. "By partnering with three of the premiere physician groups in the area, we are taking an important step in enhancing the long-term strength of both UMASH and the Corporation, as the transaction should significantly improve facility utilization and financial performance."
Medical Facilities said it no longer has a controlling interest in UMASH, with the corporation's ownership interest decreasing to 31.7 per cent from 87.6 per cent.
Medical Facilities received $1.1-million in cash for its equity interests, which implies an equity value for UMASH of $2-million, and enterprise value $23.1-million.
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Endo International plc (ENDP-Q) reported revenues of $765-million in the fourth quarter, a decrease of 3 per cent compared to revenues of $786-million for the same quarter a year earlier.
The loss from continuing operations was $208.5-million or 92 cents per share versus a loss of $265.5-million or $1.18 a year earlier. Adjusted EPS was 74 cents versus 75 cents a year earlier. Analysts were expecting adjusted EPS of 57 cents and revenue of $730.2-million.
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GMP Capital Inc. (GMP-T) has signed an agreement to acquire the stake in Richardson GMP Ltd. that it doesn’t already own in an all-stock deal.
The company says the move is the next step in its plan to focus its business on wealth management.
GMP sold the bulk of its capital markets business to Stifel Financial Corp. in a deal worth roughly $70 million last year.
Under the agreement today, GMP says it expects to issue nearly 111 million shares to shareholders of Richardson GMP. GMP shares closed at $1.80 on the Toronto Stock Exchange on Tuesday.
Richardson Financial Group Ltd. (RFGL), GMP’s largest shareholder with a 24.1 per cent stake, will increase its ownership to 39.7 per cent following the completion of the deal.
Existing GMP shareholders, other than RFGL, will hold 30.7 per cent and Richardson GMP investment advisors will hold 29.6 per cent.
-The Canadian Press
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High Liner Foods Inc. (HLF-T) reported sales of US$221.6-million in the fourth quarter compared to US$242.9-million a year earlier.
Its net loss was US$3-million or 9 cents US per share versus a loss of US$810,000 or 2 cents a year earlier. Adjusted EPS was 17 cents US versus 7 cents US in the year-before period. Analysts were expecting adjusted EPS of 8 cents US and revenue of US$219.4-million.