Take a closer look at small cap companies to boost your portfolio.Photos.com/The Globe and Mail
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
AirBoss of America Corp. (BOS-T) reported fourth-quarter sales of $63-million (U.S.), down from $73.6-million a year earlier. Analysts were expecting sales of $66-million.
Net income was $1.4-million or 6 cents per share compared to net income of $3.7-million or 16 cents a year earlier.
The company also approved a 7.7-per-cent increase in its quarterly dividend to 7 cents (Canadian) per share.
"Looking ahead to 2017, the company aims to increase earnings while managing costs and completing a number of initiatives still in progress from 2016," the company said.
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AutoCanada Inc. (ACQ-T) says Thomas Orysiuk is resigning from his position as president and as a member of the board, effective today (March 17).
CEO Steven Landry will assume the role of president, alongside his current role, the company said in a release.
The company also said it has an agreement with its syndicated lending partners to amend and restate its $250-million revolving credit facility. The maturity date was extended by two years to May 2020.
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HNZ Group Inc. (HNZ-T) reported fourth-quarter revenue of $50.9-million compared to $48.8-million a year ago.
Its net loss attributable to the shareholders was $3-million or 23 cents per share, compared to a net loss of $2.7 million, or 20 cents per share a year earlier.
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Crius Energy Trust (KWH.UN-T) reported fourth-quarter revenues of $171.4-million (U.S.), which is up 16 per cent from $147.5-million in the fourth quarter of 2015.
Analysts were expecting revenues of $185.8-million.
Adjusted EBITDA was $13.6-million, up from $8.4-million a year earlier.
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Serinus Energy Inc. (SEN-T) reported fourth-quarter revenue of $4.5-million versus $4.8-million a year ago.
Its net loss from continuing operations was $14.4-million or 18 cents per share compared to a loss of $14.3-million or 18 cents a year ago.
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Choice Properties Real Estate Investment Trust (CHP.UN-T) says Galen G. Weston will be stepping down as chairman of the board at its annual meeting on April 25. He has been chair since the IPO in 2013. Anthony Graham will replace him.
"Mr. Weston will continue in his role as chairman and chief executive officer of George Weston Limited and Loblaw Companies Limited," the company said.
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BioAmber Inc. (BIOA-T) reported fourth-quarter product sales of around $631,000, below its previously disclosed expectations of $2-million to $2.2-million.
"We expected that additional revenue of approximately $1.4-million would be recorded in the quarter but it had to be deferred until 2017 and was classified as a deferred revenue as of December 31, 2016," the company said.
In a separate release, the company said its fiscal 2016 financial statements filed with U.S. regulators on March 16 "contained a going concern qualification from its registered independent public accounting firm."
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Automotive Properties Real Estate Investment Trust (APR.UN-T) is buying the Go Mazda dealership property in Edmonton, Alta. from Go Auto for $8-million.
"This transaction represents the REIT's second dealership property acquisition from Go Auto, one of Canada's largest owner / operators of automotive dealership properties, " the REIT said in a release.
"The acquisition of Go Mazda increases our scale in the rebounding Alberta market and strengthens our business relationship with Go Auto, which underscores our focus on providing a real estate monetization solution to a wide range of leading automotive dealership owners," said CEO Milton Lamb.
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Savanna Energy Services Corp. (SVY-T) reiterated its support of a friendly takeover offer from Western Energy Services Corp. (WRG-T) and a rejection of the offer from Total Energy Services Inc. (TOT-T).
It also said there were "significant risks" to shareholder value of Total's recently announced waiver of the minimum tender condition to 50.1 per cent.
Savanna also said Total has not disclosed how it intends to refinance the Savanna debt that may become due and payable upon a change of control under the minimum condition, among other concerns.
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CanniMed Therapeutics Inc. (CMED-T) reported first-quarter sales of $3.4-million, up 93 per cent than in the same period of the prior year.
Its loss from continuing operations was $3.3-million, or 19 cents per share, including a derivative instrument expense of $2.4 million. That compared to a loss from continuing operations of $1-million or 7 cents a year earlier.
Analysts were expecting revenue of $3.6-million and a loss of 35 cents in the most recent quarter.
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Dominion Diamond Corp. (DDC-T; DDC-N) reported fiscal 2018 guidance including sales, which are expected to be between $875-million and $975-million, an increase of 62 per cent compared to fiscal 2017 sales.
Adjusted EBITDA is forecast to be between $475-milion and $560-million