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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Chemtrade Logistics Income Fund (CHE.UN-T) reported third-quarter revenue of $308.3-million compared to $364.4-million for the same period in 2015.

"The primary reasons for the decrease were lower sales volume and pricing in the International segment and lower prices for sulphur and sulphuric acid," the company said.

Its net loss for the third quarter of 2016 was $15-million compared with net earnings of $18.5-million in the same period in 2015, "primarily due to higher net finance costs in 2016."

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Boardwalk Real Estate Investment Trust (BEI.UN-T) reported third-quarter funds from operations of $37.2-million or 73 cents per unit, down from $47.6-million or 92 cents a year ago.

Adjusted funds from operations were 65 cents per unit, down from 83 cents during the same period in 2015.

"We continue to see the impact of a softer economic environment in Western Canada as a result of continued lower resource prices and in comparison to record results in 2015," the company said.

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GDI Integrated Facility Services Inc. (GDI-T) reported third-quarter revenues of $216.9-million, an increase 22-per-cent compared to a year ago.

Net income amounted to $3.9-million or 18 cents per share compared to a net loss of $18.5-million or 87 cents a year ago.

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Analysts were expecting earnings of 13 cents and revenue of $164.4-million.

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Equitable Group Inc. (EQB-T) increased its dividend while reporting third-quarter net income of $35.2-million or $2.16 per share, up 12 per cent from a year ago.

The board boosted the dividend by 5 per cent to 22 cents per share.

"Equitable delivered its best-ever financial results this quarter including record EPS [earnings per share], book value and mortgage originations while once again surpassing the ROE [return on equity], efficiency ratios and credit performances of Canada's biggest banks," stated CEO Andrew Moor.

Analysts were expecting earnings of $1.56 per share.

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IBI Group Inc. (IBG-T) reported third-quarter revenue of $88.2-million compared to $83.8-million for the same period in 2015. Analysts were expecting revenue of $65.3-million.

Its net loss was $4.7-million or 15 cents per share compared to net income of $4.8-million or 21 cents a year ago.

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Canadian Energy Services & Technology Corp. (CEU-T) reported revenue of $145.1-million during the three months ended Sept. 30, compared to $187.8-million for the same time last year.

Its net loss was $11.4-million or 4 cents compared to net income of $6.5-million and 3 cents per share.

Analysts were expecting a loss of 3 cents.

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Dream Office REIT (D.UN-T) reported net operating income of $97.9-million in the third quarter, down from $96.9-million a year ago, "mainly driven by vacancy in the Alberta region."

Diluted funds from operations came in at 62 cents, compared with 69 cents a year ago.

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D-BOX Technologies Inc. (DBO-T) reported third-quarter revenue of $6.3-million up from $5-million a year ago.

Its net loss was $1.1-million compared to a loss of $208,000 a year ago.

Analysts were expecting revenue of $5-million in the most recent quarter.

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Cervus Equipment Corp. (CVL-T) says it has entered into an agreement with a single purchaser for the long-term sale and leaseback of approximately $55.7-million of its real estate.

"The agreement provides for the sale of the land and buildings of 11 dealerships operated by Cervus and the leaseback by Cervus of those properties with initial lease terms ranging from 15 to 20 years," the company said.

"After retiring mortgages associated with the properties and rent deposits under the proposed lease, Cervus expects net free cash flow of approximately $27 million."

Cervus said it anticipates the sale and leaseback transaction will result in a gain on sale between $3-million to $4-million.

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BMTC Group Inc. (GBT-T) reported third-quarter revenue of $197.6-million compared to $189.4-million a year ago.

Net earnings were $14.7-million or 40 cents per share compared to $13-million or 31 cents a year ago.

Analysts were expecting earnings of 25 cents per share.

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The Westaim Corp. (WED-V) recorded a net loss of $3.7-million (U.S.) or 3 cents per share for the three months ended Sept.  30, compared to net income of $7-million or 7 cents per share a year ago.

Revenue was $600,000 compared to $400,000 a year ago.

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Milestone Apartments Real Estate Investment Trust (MST.UN-T) reported third-quarter funds from operations of $21.5-million (U.S.), up 23.8 per cent from a year ago.

Revenue was $71.1-million versus $56.2-million a year ago.

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DH Corp. (DH-T) says it has an agreement to amend debt covenants with is lenders and private noteholders.

Under the amendments, the company is required to maintain certain total net funded debt to EBITDA ratios.

The changes extend the current 3.50 to 1 ratio to Sept. 30, 2017, "with a measured step down of the ratio to 3.0 to 1 by the end of the third quarter of 2018," the company said.

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Cruis Energy Trust (KWH.UN-T) reported third-quarter revenue of $222.6-million, up 9 per cent from $204.2-million in the third quarter of 2015.

Adjusted EBITDA was $20.6-million up from $16.1-million a year ago.

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New Flyer Industries Inc. (NFI-T)  reported third-quarter revenue of $511.5-million (U.S.), up 40.3 per cent compared to $364.7-million a year ago.

Net earnings were $26-million or 43 cents per share compared to $16.6-million or 30 cents a year ago.

Analysts were expecting revenue of $503-million and earnings of 45 cents per share.

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K-Bro Linen Inc. (KBL-T) reported third-quarter revenue of $41.6-million, up 10 per cent from $37.7-million a year ago.

Net earnings after tax were $3.4-million or 43 cents per share compared to $3.8-million or 48 cents a year ago.

Analysts were expecting revenue of $32.3-million and earnings of 39 cents per share

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Cipher Pharmaceuticals Inc. (CPHR-Q; CPH-T) has named Stephen Lemieux, its chief financial officer, as interim CEO to replace Shawn O'Brien "who is pursuing other opportunities."

Cipher said it has started a formal search process for a new chief executive officer.

Mr. Lemieux will also continue as CFO.

The company also reported third-quarter revenue of $9.3-million (U.S.), an increase of 10 per cent from $8.5-million a year ago.

Its net loss was $21.8-million, or 81 cents per share compared to a net loss of $2.2-million, or 9 cents a year ago.

"The increased loss mainly reflects the non-cash impairment charge on intangible assets of $17.3-million and on goodwill of $2.3-million," the company said.

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Intertape Polymer Group Inc. (ITP-T) reported third-quarter revenue of $206.6-million (U.S.) up from $200.6-million a year ago.

Net earnings were $6.3-million or 10 cents per share compared to $15.7-million or 26 cents a year ago.

Analysts were expecting earnings of 26 cents and revenue of $208.4-million.

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About the Author
Contributor

Brenda Bouw is a freelance writer and editor based in Vancouver. She has more than 20 years of experience as a business reporter, including at The Globe and Mail, The Canadian Press, the Financial Post and was executive producer at BNN (formerly ROBTv). Brenda was also part of the Globe and Mail reporting team that won the 2010 National Newspaper Award for business journalism. More

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