Interiors of the Second Cup location on King St. West and John St. in downtown Toronto.Fred Lum/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.
OneREIT (ONR.UN-T) says it's being taken private in a deal valued at $1.1-billion.
The REIT says it has separate agreements with Smart Real Estate Investment Trust and Strathallen Acquisitions Inc. to acquire all of OneREIT's assets and assume all of its liabilities.
"The transaction is the outcome of OneREIT's strategic review process, previously announced in June 2016," the company said.
"The consideration for the transaction is comprised of cash and SmartREIT units that value OneREIT units at $4.26 per unit on a fully prorated basis."
The REIT says that's a premium of 14.5 per cent to it closing price on Thursday.
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Dorel Industries Inc. (DII.B-T; DII.A-T) reported revenue of $611.3-million (U.S.) in the second quarter, down 4 per cent from $637.3-million in the same period a year ago.
Adjusted net income increased 22 per cent to $12.4-million or 38 cents per share, compared to adjusted net income of $10.2-million or 31 cents.
Net income was $11.4-million or 35 cents compared to a loss of $38.6-million or $1.19 per share in the second quarter of 2016.
Analysts were expecting earnings of 30 cents and revenue of $637-million.
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Interfor Corp. (IFP-T) recorded net earnings of $24.5-million or 35 cents per share in the second quarter, compared to $23.2-million or 33 cents per share a year ago.
Analysts were expecting earnings of 38 cents per share.
Adjusted net earnings were $28.7-million or 41 cents per share versus $17.5-million or 25 cents per share a year ago
Sales came in at $511.4-million versus $458.8-million a year earlier. Analysts were expecting sales of $513.7-million.
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Pure Technologies Ltd. (PUR-T) reported second quarter revenue of $33.7-million, up 16 per cent from a year earlier.
Net income improved 36 per cent to $1.3-million. Earnings per share came in at 2 cents, which is the same as for the second quarter a year ago.
Analysts were expecting revenue of $34.3-million and earning of a penny per share.
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Atlantic Power Corp. (AT-N; ATP-T) reported a net loss of $21.9-million for the second quarter ended June 30, versus a loss of $18.5-million in the year-ago period "primarily because of non-cash impairment expense recorded at the company's equity-owned Chambers and Selkirk projects."
Project revenue came in at $124-million versus $98.2-million a year earlier.
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Hudbay Minerals Inc. (HBM-T; HBM-N) reported a profit of $25.6-million (U.S.) and 11 cents per share in the second quarter, compared to a loss of $5.7-million or 2 cents a year earlier.
Revenue came in at $324.9-million versus $247-million a year ago.
Analysts were expecting revenue of $157.5-million and earning of 16 cents.
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Sandstorm Gold Ltd. (SAND-N; SSL-T) reported revenue of $16.1-million in the second quarter, up from $15.7-million a year earlier.
Its net loss was $1.9-million versus net income of $5.2-million a year earlier.
"Net income was lower when compared to the same period in 2016 due to a number of factors including a $4.5-million non-cash impairment charge relating to the Coringa royalty," the company said.
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Innergex Renewable Energy Inc. (INE-T) reported revenues of $109.5-million in the second quarter, compared with $87.8-million to the same period last year.
Net earnings came in at $14.1-million or 12 cents per share compared with net earnings of $15.7-million or 12 cents per share a year ago.
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BTB Real Estate Investment Trust (BTB.UN-T) says it bought a retail building in St-Hubert, Que. on the south shore of Montreal for $23.2-million.
"This accretive acquisition is in line with BTB's strategic review where it is selling its smaller properties while purchasing larger properties maximizing financial performance," the company stated in a release.
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BMTC Group Inc (GBT-T) reported revenues of $361.3-million in the second quarter compared to $353-million in the second quarter a year earlier.
Same store revenues grew by 2 per cent during the same period, the company said.
Net earnings came in at $14.1-million or 38 cents per share compared to $11.5-million or 30 cents a year earlier.
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Cominar Real Estate Investment Trust (CUF.UN-T) reported operating revenues of $210-million in the second quarter , which was in line with analysts' expectations and compared to $217.3-million for the corresponding period of 2016.
Net income was $65.8-million compared to $69.8-million a year earlier.
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ZCL Composites Inc. (ZCL-T) reported revenue of $53.3-million in the second quarter, up $8.6-million or 19 per cent from $44.7-million a year earlier.
Net income was $6-million or 19 cents per share versus $4.4-million or 14 cents a year earlier.
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Advantage Oil & Gas Ltd. (AAV-T; AAV-N) reported sales of $69.2-million in the second quarter, up from $456-million a year ago.
Funds from operations were $48.6-million or 26 cents per share up from $36.9-million or 20 cents a year ago.
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GMP Capital Inc. (GMP-T) reported revenue of $44.4-million in the second quarter, compared with $41.5-million a year earlier.
Its net loss was $54.2-million or 79 cents per share compared with a loss of $700,000 or 2 cents a year ago.
"Second quarter 2017 results included significant non-cash impairment charges in Capital Markets," the company said.
Adjusted EPS was a penny per share versus a loss of 2 cents a year ago.
"Market conditions in the quarter remained challenging for independents in Canada given their focus on small- to mid-cap companies," said CEO Harris Fricker.
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The Second Cup Ltd. (SCU-T) reported a net loss of $315,000 or 2 cents per share for the second quarter compared with a loss of $441,000 or 3 cents per share a year ago.
Same store sales increased by 0.7 per cent year over year. That marks its first positive quarter since the fourth quarter of 2015.
Excluding Alberta, same store sales rose 1.9 per cent in the quarter.
Total revenue was $6.2 million down from $7.8 million a year ago.
The decrease in revenue is due to a reduced number of cafés, from 29 last year to 19 this year and lower company-branded consumer product sales.
"Reducing company-owned cafés is consistent with the company's strategy of returning to an asset light business model," it stated in a release.
System sales of cafés for the 13 weeks ended July 1, were $38 million compared to $40.2 million a year earlier.
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Slate Office REIT (SOT.UN-T) said second quarter revenue increased by $8-million to $36.2-million compared to the second quarter of 2016.
Net operating income was $17.1-million, an increase of $4.4-million compared to the same period in 2016.
Net income was $3.5-million down from $15.2-million a year earlier.
Funds from operations increased $2.3-million to $11.4-million or 20 cents per share compared to the same period in the prior year.
Analysts were expecting FFO per unit of 22 cents and revenue of $37.9-million.
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Information Services Corp. (ISV-T) reported revenue of $24.6-million in the second quarter, which was in line with analysts' expectations, and compared to $24.7-million a year earlier.
Net income was $4.7-million or 27 cents per basic share compared to $6.6-million or 38 cents per share a year ago. Analysts were expecting earnings of 26 cents.