A tailings pond stands in the Athabasca Oil Sands near Fort McMurray, Alberta, Canada, on Tuesday, June 2, 2015.Ben Nelms/Bloomberg
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
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Morneau Shepell Inc. (MSI-T) says fourth-quarter revenue increased by 6.5 per cent to $158.7-million, compared to a year earlier. Analysts were expecting revenue of $160.4-million.
Adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] increased by 8.6 per cent to $29-million. Profit was $4.3-million in the fourth quarter, versus $5.7-million a year earlier.
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WPT Industrial Real Estate Investment Trust (WIR-U-T) reported investment properties revenue of US$22.4-million in the fourth quarter, up from US$18.7-million a year earlier.
Net income was US$8.1-million or 16.7 cents per share versus income of $1.6-million or 3.8 cents a year earlier.
Adjusted funds from operations came in at US$9.4-million or 19 cents versus US$7.9-million or 19 cents a year ago.
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True North Commercial Real Estate Investment Trust (TNT-UN-T) said fourth-quarter revenue from property operations increased by 39 per cent totalling $16.4-million compared to the same quarter a year earlier. Net operating income increased by 44 per cent to $10-million year-over-year.
Diluted funds from operations came in at 15 cents per unit, which was in line with expectations and compared to 14 cents a year earlier.
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Corsa Coal Corp. (CSO-X) is selling its thermal and industrial coal division, Central Appalachia (CAPP) to a buyer group led by CAPP's current management team.
"The sale of our CAPP division will allow us to dedicate all of our corporate resources to the metallurgical coal market where we believe we can achieve the highest rates of return on investment," said George Dethlefsen, Corsa's CEO, in a release. "Corsa's focus going forward is to aggressively increase its metallurgical coal production, maximize value-added services activity, and continue to grow our metallurgical sales and trading platform."
It said the consideration for the deal includes the assumption by the buyer group of certain debt, leases and future costs, including end-of-mine closure costs of about US$8-million.
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Painted Pony Energy Ltd. (PONY-T) reported adjusted funds flow from operations of $35-million during the fourth quarter, an increase of 33 per cent compared to adjusted funds flow from operations of $27-million during the fourth quarter of 2016.
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Athabasca Oil Corp. (ATH-T) reported a loss of $209.6-million or 41 cents per share in the fourth quarter, versus a loss of $779.4-million or $1.92 a year ago.
Adjusted funds flow was $41.8-million or 8 cents versus a loss of $16.9-million or 4 cents a year earlier.
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Cominar Real Estate Investment Trust (CUF-UN-T) says it is reviewing its portfolio for "further opportunities to sell assets, further reduce leverage and enhance its financial flexibility," after the sale of $1.14-billion of non-core properties and reduction of the annual distribution to 72 cents from $1.14 "to restore financial flexibility."
The company will also refocus on "core Québec markets where Cominar enjoys competitive advantages."
The company reported fourth-quarter operating revenue of $207.4-million versus $210.4-million a year earlier. Analysts were expecting revenue of $206.6-million.
Its net loss was $581.3-million versus net income of $26.3-million a year earlier.
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Concordia International Corp. (CXRX-Q; CXR-T) reported fourth-quarter revenue of $150.2-million, which beat earnings of $143.8-million and compared to $170.4-million for the fourth quarter of 2016.
Its net loss was $431.8-million versus a loss of $663.8-million a year earlier.
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Paramount Resources Ltd. (POU-T) reported fourth-quarter petroleum and natural gas sales of $258.9-million, which was slightly above expectations of $256.9-million and up from $32.2-million a year earlier.
Adjusted funds flow was $110.1-million compared to $14.3-million a year earlier. Its net loss was $106.2-million or 79 cents per share versus net income of $212.4-million or $1.99 a year earlier.
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KP Tissue Inc. (KPT-T) said fourth-quarter revenue increased slightly to $340.1-million from $339.6-million a year earlier. Analysts were expecting revenue of $364.3-million in the recent quarter.
Its net loss was $18-million, compared to $4.5-million a year earlier.
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Artis Real Estate Investment Trust (AX.UN-T) says it has acquired the remaining 50-per-cent interest in 1700 Broadway and Hudson's Bay Centre, two office buildings in Denver, Colorado.
Artis bought a 50-per-cent joint venture interest in 1700 Broadway in May 2013. The remaining joint venture interest was acquired for US$51-million.
Artis acquired a 50-per-cent joint venture interest in Hudson's Bay Centre in April 2014. The remaining joint venture interest was acquired for US$19-million.
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Intertape Polymer Group Inc. (ITP-T) reported fourth-quarter revenue increased to $237.4-million from $209.9-million a year earlier.
Net earnings attributable to shareholders was $21.3-million or 36 cents per share down slightly from $21.7-million or 36 cents a year earlier.
Analysts were expecting revenue of $245.5-million and earnings of 24 cents per share.
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Hydrogenics Corp. (HYGS-Q; HYG-T) reported fourth-quarter revenue of US$19.5-million up from US$8.7-million a year earlier.
Its net loss was US$1.1-million or 7 cents per share versus a loss of US$2.5-million or 20 cents a year earlier. Analysts were expecting a loss of 6 cents and revenue of US$16-million.
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