Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Sleep Country Canada Holdings Inc. (ZZZ-T) said third-quarter revenue increased 12.5 per cent to $160.8-million compared to the same period last year. Same-store sales grew 7.7 per cent.
Net income was $21.4-million, up from $8-million a year before.
Earnings per share came in at 57 cents, up from 39 cents a year earlier.
Analysts were expecting revenue of $120.4-million and earnings or 43 cents per share.
"Our third quarter results were the best ever in our history, and we established new benchmarks for a number of our key financial metrics," stated CEO David Friesema in a release.
Canaccord Genuity Group Inc. (CF-T) reported second-quarter revenue of $193.6-million, an increase of 1.6 per cent from $190.6-million a year ago.
Excluding "significant items" the company said its net income in the quarter was $2-million compared to net income of $1.9-million a year ago. Its loss per share was 3 cents, compared to a penny a year ago.
Analysts were expecting earnings of 3 cents per share and revenue of $155.2-million.
"While the impact of the prolonged period of market uncertainty before and after the Brexit vote and leading up to the U.S. federal election is evident in our second quarter results, we are encouraged by improving global activity levels in our core focus areas and by exceptional performance from our Australian investment banking business," stated CEO Dan Daviau in a release., "During the quarter we made significant progress to advance our global wealth management strategy, which we expect will directly contribute long-term earnings stability."
Horizon North Logistics Inc. (HNL-T) reported third-quarter revenue of $60.1-million, down 27 per cent from $82.3-million a year ago.
Its loss was $4.9-million or 4 cents per share, compared to a loss of $273,000 or nil per share a year ago.
Analysts were expecting a loss of 2 cents per share and revenue of $47.1-million.
Canopy Growth Corp. (CGC-T) says it has entered into a Memorandum of Understanding with the Goldman Group to expand its cannabis production capacity and geographic footprint.
"The MOU is the culmination of a shared view that high-quality cannabis grown through secure production channels will continue to be the preferred model for Canadian cannabis production and that current capacity is insufficient to meet the growing demand for medical and future recreational cannabis," the company said in a release.
Concordia International Corp. (CXRX-Q; CSR-T) said its board has appointed Allan Oberman as its new CEO and Jordan Kupinsky as chairman, effective Nov. 14.
Mr. Oberman, who will continue as a director of the company in his new capacity, will succeed Mark Thompson.
In a separate release, company said it has entered into an additional cross currency swap agreement as part of its ongoing currency hedging program.
"Concordia believes that this Swap Agreement will further align its British pound-sterling earnings with its debt obligations and will help manage the impact of fluctuations in the GBP to U.S. dollar exchange rate," the company said.
Aecon Group Inc. (ARE-T) reported third-quarter revenue of $838-million, down 4 per cent compared to the same period in 2015.
Profit was $27.4-million, down from $25.6-million a year ago.
Adjusted earnings per share increased to 42 cents per share from 35 cents per share in the third quarter of 2015.
Analysts were expecting earnings of 43 cents per share and revenue of $663.3-million.
Precision Drilling Corp. (PD-T; PDS-N) has placed a private offering of $350-million (U.S.) senior notes due in 2023.
It said in a release that the notes "will be guaranteed on a senior unsecured basis by current and future U.S. and Canadian subsidiaries that also guarantee Precision's revolving credit facility and certain other future indebtedness."
It plans to use the net proceeds, together with cash on hand, to redeem outstanding notes and for other debt repurchases.
Black Diamond Group Ltd. (BDI-T) has bought MPA Systems LLC, a company specializing in leasing and selling high-security modular buildings and providing disaster recovery facility programs, for $3.1-million (U.S.).
"This acquisition establishes BOXX Modular as a leader in the modular bank market across the U.S., and demonstrates management's commitment to growing and diversifying the Black Diamond platform," stated CEO Trevor Haynes in a release.
Gibson Energy Inc. (GEI-T) reported third-quarter revenue of $1.2-billion, down from $1.3-billion a year earlier. Analysts were expecting revenue of $1.1-billion.
Its net loss was $32.9-million, compared to a loss of $41.2-million a year ago.
CanWel Building Materials Group Ltd. (CWX-T) reported third-quarter net earnings of $7.3-million, compared to $6.6-million a year ago.
Revenues increased by 11.7 per cent to $276-million when compared to $247-million in the same period in 2015. Analysts were expecting revenue of $220.9-million.
GDI Integrated Facility Services Inc. (GDI-T) is buying Direct Energy Business Services Ltd., doing business under Airtron Canada, a subsidiary of Direct Energy Marketing Ltd.
GDI says it's buying the company through its Ainsworth subsidiary for $19.5-million including vehicle leases.
"We are pleased to welcome the Airtron team to the Ainsworth family," stated GDI CEO Claude Bigras.
GMP Capital Inc. (GMP-T) reported third-quarter revenue of $43.5-million, down 19 per cent compared with the same period last year.
Its loss was $10.6-million or 18 cents per share in third quarter 2016, compared with a net loss of $11.1-million or 19 cents per share in third quarter 2015.
"This quarter was about taking the necessary steps to transform our energy business into the preeminent independent player in Canada. With the acquisition of FirstEnergy complete, we are focused on integrating this coveted franchise into our broader platform," stated CEO Harris Fricker.
Sandvine Corp. (SVC-T) says it has received orders totalling more than $6-million from a converged fixed/mobile communications service provider.
Penn West Petroleum Ltd. (PWT-T; PWE-N) reported third-quarter revenue of $136-million, down from $295-million a year earlier.
Its net loss was $232-million or 46 cents per share compared to a loss of $764-million or $1.52 per share a year earlier.
Baytex Energy Corp. (BTE-T; BTE-N) reported third-quarter sales of $197.6-million, down from $265.9-million a year ago.
Its net loss was $39.4-million or 19 cents per share, versus a loss of $519.2-million or $2.50 per share a year ago.
Funds from operations were $72.1-million or 34 cents per share, as compared with $105.1-million or 51 cents a year ago.
Torstar Corp. (TS.B-T) is reporting a $1.5-million profit for the third quarter, helped by cost reductions and $53.6-million from the previously announced sale of its Vaughan printing plant.
However, the newspaper and digital media company says its Metroland and Star groups continue to face a challenging market for print advertising in the early stages of the fourth quarter.
Torstar's total operating revenue for the three months ended Sept. 30 was $162.1-million, down from $185.4-million a year earlier.
Net income included $400,000 from discontinued operations and $1.08-million from continuing operations, or a total of two cents per share.
The profit for the owner of the Toronto Star and other media businesses was an improvement over the year-earlier loss of $164.3-million, or $2.05 per share, that accounted for a reduced long-term revenue projection due to reduced advertising.
After adjustments, Torstar had a loss of eight cents per share in this year's third quarter and 13 cents per share in last year's third quarter.
"We were pleased, overall, with our progress in the quarter," said David Holland, Torstar's outgoing president and CEO.
The Canadian Press