Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Freehold Royalties Ltd. (FRU-T) is increasing its monthly dividend to 5 cents per share from 4 cents.
The company reported fourth-quarter net income of $1.6-million compared to a $7.4-million loss a year earlier, which it said was due to a $8-million impairment charge.
Funds from operations totaled $30.4-million, an increase of 19 per cent year-over-year due to higher volumes and commodity prices.
"Record production and robust drilling activity have led us to increase our 2017 production guidance and raise our dividend by 25 per cent," the company said.
Major Drilling Group International Inc. (MDI-T) reported third-quarter revenue of $70.1-million, down 3 per cent from the $71.9-million recorded for the same quarter a year earlier.
Its net loss was $14.3-million or 18 cents per share for the quarter, compared to a net loss of $15.9-million or 20 cents per share for the prior-year quarter.
Analysts were expecting a loss of 12 cents and revenue of $70.1-million.
Crew Energy Inc. (CR-T) reported a net loss of $40-million or 28 cents per share in the fourth quarter, compared to a loss of $8.2-million or 6 cents a year earlier.
Funds from operations were $27.9-million or 19 cents per share versus $19.6-miillion or 14 cents a year earlier.
Martinrea International Inc. (MRE-T) reported record fourth-quarter net income of $30.8-million, or 36 cents per share compared to $27.8-million or 32 cents per share a year ago.
Sales were $990.4-million versus just over $1-billion a year earlier.
Analysts were expecting revenue of 929.4-million and earnings of 34 cents per share.
Cara Operations Ltd. (CARA-T) reported fourth-quarter earnings before income taxes of $30.3-million for the 13 weeks ended Dec. 25, 2016 compared to $21.7-million in the similar period in 2015.
Adjusted net earnings came in at $25.9-million in the fourth quarter compared to $20.7-million a year earlier.
Sales grew $180-million to $641.1-million year-over-year.
Bonavista Energy Corp. (BNP-T) reported fourth-quarter production revenues of $141.8-million up from $137.3-million a year earlier.
Funds from operations were $78.7-million or 31 cents per share versus $95.8-million or 44 cents per share a year earlier.
Its net loss was $12-million or 5 cents per share versus a loss of $454.6-million or $2.09 per share a year earlier.
Analysts were expecting a loss of 2 cents per share.
Enerflex Ltd. (EFX-T) reported fourth-quarter revenue of $343.4-million versus $358.5-million a year earlier.
Its net loss from continuing operation was $45.5-million or 54 cents per share compared to a loss of $33.4-million or 42 cents per share a year earlier.
Analysts were expecting revenue of about $314-million.
"Enerflex's fourth quarter financial results reflect the challenging business environment in which we have been operating. Customers have been cautious with their capital expenditures due to low commodity prices, which resulted in additional restructuring and asset impairments in Enerflex's Canada, Asia, and Australia operations during the quarter. The cost reductions resulting from this restructuring will position these regions well for 2017," said CEO Blair Goertzen in a release.
Advantage Oil & Gas Ltd. (AAV-T; AAV-N) reported fourth-quarter funds from operations of $56.6-million or 30 cents per share compared to $31.7-milllion or 19 cents a year earlier.
Sales were $71.1-million up from $42.7-million a year earlier.
Analysts were expecting sales of $61.9-million.
Canyon Services Group Inc. (FRC-T) reported a net loss of $12.2-million in the fourth quarter, compared to a net loss of $18.3-million a year earlier.
"[Fourth quarter] financial results declined significantly compared to [the fourth quarter of 2015] primarily as a result of extreme competition for Canyon's service offerings resulting in significant pricing pressures," the company said.
Revenues came in at $80.2-million down from $93.9-million a year earlier.
Analysts were expecting revenue of $77.7-million.
The company also said it's adding $25.6-million to its 2017 capital spending plans.
Labrador Iron Ore Royalty Corp. (LIF-T) reported fourth-quarter revenue of $38.6-million compared to $22-million a year earlier.
Net income was $37.7-million or 59 cents per share compared to $10.3-million or 15 cents a year earlier.
The company also declared a special dividend of 25 cents per common share alongside its regular quarterly cash dividend of 25 cents.
Analysts were expecting earnings of 53 cents and revenue of $37.7-million.
Morneau Shepell Inc. (MSI-T) said CEO Alan Torrie will retire in May and be replaced by chief operating officer Stephen Liptrap.
The company also reported fourth-quarter revenue of $149.1-million up from $145.7-million a year earlier.
Analysts were expecting revenue of $148.4-million.
Adjusted EBITDA increased by 6 per cent to $26.7-million.
Profit was $5.7-million up from $2.4-million a year earlier.
Boralex Inc. (BLX-T) reported a net loss attributable to shareholders of $4-million or 7 cents per share in the fourth quarter compared with a profit of $6-million or 9 cents per share for the same quarter a year earlier.
Revenue from energy sales was $74-million down from $81-million a year earlier.
TransAlta Corp. (TA-T; TAC-N) reported revenue of $717-million in the fourth quarter compared to $595-million during the same period a year earlier.
Net earnings attributable to shareholders was $61-million or 21 cents per share compared to a loss of $7-million or 2 cents a year earlier.
Analysts were expecting revenue of $645.9-million and earnings of 15 cents.
GMP Capital Inc. (GMP-T) reported revenue of $65.2-million in fourth quarter representing an 85-per-cent increase relative to the same period a year ago.
Net income was $3.2-million or 3 cents per share compared with a net loss of $15.6 -million or 26 cents per share in fourth quarter 2015.
Adjusted EPS was 7 cents in fourth quarter compared with a loss of 21 cents in the prior-year quarter.
"GMP benefited from a solid rebound in client activity in fourth quarter 2016 with a strong performance in our advisory franchise driving a 230 per cent rise in investment banking fees compared with fourth quarter 2015," said CEO Harris Fricker. "We are encouraged by our financial results this quarter which included an impressive contribution from GMP FirstEnergy and demonstrate the powerful leverage we've embedded into our business over the last year."
Torstar Corp. (TS.B-T) named John Boynton as president and CEO of Torstar and as publisher of the Toronto Star, effective March 31.
He succeeds David Holland, who announced his intention to retire last year.
Since 2014 Mr. Boynton has served as chief marketing officer of the Americas Coalitions business of Aimia Inc. and before that was executive vice president and chief marketing officer for Rogers Communications Inc.
Parkland Fuel Corp. (PKI-T) reported sales and operating revenue of $1.7-billion in the fourth quarter relatively flat compared to the same time a year earlier.
Net earnings were $3-million or 3 cents per share compared to $15.60million or 17 cents a year earlier.
Analysts were expecting sales of $1.6-billion and earnings of 2 cents.
Concordia International Corp. (CXRX-Q; CXR-T) responded to a statement of objections by the UK Competition and Markets Authority (CMA) regarding an alleged competition infringement.
The statement was objecting to Actavis UK (formerly Auden Mckenzie) and Concordia's International segment in relation to the supply of 10mg hydrocortisone tablets in the UK between 2013 and 2016.
"We believe that the conduct of Amdipharm was not in breach of competition law," Concordia said in a release before markets opened on Friday. "As previously disclosed, we are cooperating fully with the CMA in this investigation. We believe that the supply arrangement between Auden McKenzie, which was acquired by Actavis in 2015, and Amdipharm for full-indication 10mg hydrocortisone tablets did not infringe competition law."