Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ballard Power Systems (BLDP-Q; BLDP-T) reported fourth-quarter revenue of $30.7-million (U.S.) up 54 per cent from a year ago.
Its net loss was $1.1-million or a penny per share, versus a loss of $1.4-million or 4 cents a year ago.
Ballard noted that the fourth quarter of 2015 included a gain of $5.4-million on the sale of intellectual property to Volkswagen Group.
Granite Real Estate Investment Trust (GRT.UN-T; GRP.U-N) said rental revenue decreased to $54.3-million in the fourth quarter from $54.9 million in the fourth quarter of 2015.
Granite's net income for the fourth quarter of 2016 was $29.5-million compared to $45.4-million for the fourth quarter of 2015.
Funds from operations were $38.1-million versus $39.5-million a year earlier.
"The $1.4-million decrease was primarily due to a decrease in rental revenue and an increase in current tax expense primarily resulting from tax recoveries recorded in the fourth quarter of 2015," the company said.
Secure Energy Services Inc. (SES-T) reported total revenue of $520.5-million in the fourth quarter, up from $290-million a year earlier.
Its net loss was $10.1-million or 6 cents per share, compared to a loss of $86.8-million or 63 cents a year earlier.
Funds from operations were $34-million or 21 cents per share versus $25.6-million or 19 cents per share a year earlier.
Analysts were expecting revenue of $436.9-million and a loss of a penny per share.
Trinidad Drilling Ltd. (TDG-T) reported fourth-quarter revenue of $93.1-million down from $138-million a year earlier.
Its net loss was $11.8-million or 5 cents per share versus a loss of $141.5-million or 64 cents a year earlier.
Funds flow from operations was $17.6-million down from $30.6-million a year earlier.
Analysts were expecting revenue of just under $95-million and a loss of 9 cents per share.
NeuLion Inc. (NLN-T) said fourth-quarter revenue fell 8 per cent year-over-year to $25.5-million.
It reported an operating loss of $1.8-million versus operating income of $1.8-million a year earlier.
Its net loss was $300,00 or nil per share compared to a net income of $32.8-million 11 cents per share, in the prior-year period.
Analysts were expecting revenue of $26.9-million.
Velan Inc. (VLN-T) appointed Yves Leduc as its new CEO.
"Mr. Leduc who was hired in January, 2015, as president has become the first non-Velan family member to lead the valve manufacturing company that was founded in 1950," the company said.
Tom Velan retired as CEO and will continue to serve as chairman of the board.
Cipher Pharmaceuticals Inc. (CPH-T) reported fourth-quarter revenue of $10.7-million (U.S.), an increase of 10 per cent from $9.7 million a year earlier.
Its net loss was $11.3-million, or 45 cents per share, which includes a $9.7 million impairment charge for intangible assets and goodwill related to the U.S. operation.
The company reported a profit of $2-million for the same quarter a year earlier.
Adjusted EBITDA was $1.3-million, compared with $1.8-million a year ago.
Excluding the impairment charge, net loss would have been $1.6 million, or 6 cents per share in the fourth quarter.
Analysts were expecting revenue of $10.5-million and a loss of 6 cents per share.
Exfo Inc. (EXFO-Q; EXF-T) has acquired privately held Ontology Systems for $7.6-million (U.S.)
UK-based Ontology Systems "uses graph data and semantic searches to build real-time views of network services and related network elements," the company said.
It generated approximately $4-million in revenue during the last 12 months.
"This strategic acquisition uniquely positions Exfo with agile, real-time visualization and troubleshooting solutions that enable communications service providers (CSPs) to manage their networks more efficiently and ensure heightened quality of experience and scalability for next-generation networks, which will be hybrid in nature for many years to come," said CEO Germain Lamonde.
Horizon North Logistics Inc. (HNL-T) reported fourth-quarter revenue of $60.4-million down from $68.7-million a year earlier.
Its loss was $7.2-million or 5 cents per share compared to a loss of $5-million or 4 cents a year earlier.
Analysts were expecting revenue of $56.8-million and a loss of 4 cents.
Cascades Inc. (CAS-T) reported fourth-quarter sales of $979-million, compared to $975-million for the same period a year earlier.
Adjusted net earnings were $15-million or 16 cents per share compared to $22-million or 23 cents a year earlier.
Net earnings amounted to $4-million or 4 cents per share compared to a net loss of $76-million or 81 cents per share in the same period in 2015.
Analysts were expecting sales of $962-million and earnings of 24 cents.