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Endo International

Graeme Roy/THE CANADIAN PRESS

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Primero Mining Corp. (P-T, PPP-N) generated $52.2-million of revenue in the fourth quarter compared to $71.4-million a year earlier, "as a result of lower gold equivalent ounces sold partially offset by a higher realized gold price."

Analysts were expecting revenue of $55.6-milion.

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Its net loss was $190.1-million or $1.01 per share compared with a net loss of $98.3-million or 60 cents per share a year earlier.

These figures include impairment charges against the San Dimas mine and Black Fox Complex of $228-million in the fourth quarter of 2016 and impairment charges against the Black Fox Complex and Cerro del Gallo development project of $104-million a year earlier.

Its adjusted net loss for the fourth quarter was $1.8-million or a penny per share compared with an adjusted loss of $38,000 or nil per share a year earlier.

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Western Energy Services Corp. (WRG-T) is increasing the value of its bid for Savanna Energy Services Corp. (SVY-T), as well as the break free if the deal isn't done.

Western Energy says it will increase the consideration to be paid to shareholders of Savanna from 0.85 of a Western common share for each Savanna common share, to 0.85 of a Western common share plus 21 cents in cash for each common share.

It also increased the reciprocal non-completion fee by $5 million to $20 million.

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CRH Medical Corp. (CRH-T; CRHM-N) has acquired a 60-per-cent interest in a gastroenterology anesthesia practice in Kissimmee, Florida.

It also has entered into an exclusive agreement to develop and manage a monitored anesthesia care program with Puget Sound Gastroenterology n Washington State.

Under the terms of the agreement, CRH has the option to acquire 51 per cent of the newly created MAC business at a future date.

Concordia International Corp. (CXRX-Q; CXR-T) reported a net loss of $663.8-million (U.S.) in the fourth quarter compared to a loss of $31.5-million a year earlier.

It said the fourth quarter of 2016 included impairment charges of $562.1-million.

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Adjusted EBITDA was $80.5-million versus $120.1-million a year earlier.

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Bellatrix Exploration Ltd. (BXE-T; BXE-N) reported a profit of $23.1-million or 9 cents per share in the fourth quarter. That compared to a loss of $356.6-million or $1.86 per share a year earlier.

Analysts were expecting a loss of 7 cents.

Funds flow from operations was $8.4-million or 3 cents per share compared to $29.7-million or 15 cents a year earlier.

Total revenue was $67.9-million compared to $72.1-million a year earlier.

Analysts were expecting revenue of $60.3-million.

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Home Capital Group Inc. (HCG-T) said several of its current and former executives have been served with enforcement notices from the Ontario Securities Commission over the company's disclosure of its investigation into fraudulent mortgage documents.

The financial services company said last month that the OSC had issued it an enforcement notice. The notice stems from the way in which the company revealed to investors that it had suspended 45 mortgage brokers for submitting fake or altered income verification documents in 2014 and 2015.

The new notice means OSC investigators are targeting not only the company, but senior officials within it. Home Capital declined to name the directors and officers involved, but said the OSC notice against them related to the company's disclosure of its mortgage fraud investigation as well as "trades in the company's shares."

- Tasmin McMahon

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Endo International plc (ENDP-T; ENDP-Q) says an independent panel to the U.S. Food and Drug Administration voted 18 to eight, with one abstention, that the benefits of its reformulated Opana ER pain drug "no longer outweigh its risks."

The panel was called to upon to address the high abuse rate of Endo's Opana ER — a long-acting variation of oxymorphine — and other oxymorphone products.  Initially approved in 2006, a new formulation of Opana ER designed to deter abuse hit the market in 2012.

Endo said advisory committee members acknowledged the role of the opioid painkiller in clinical practice, but "others believed its benefits are now overshadowed by the continuing public health concerns around the product's misuse, abuse and diversion," the company said.

It said during the advisory committee discussion following the vote, a number of committee members "expressed their preference" that Opana "remain on the market with additional regulatory restrictions to mitigate the risks."

Endo's shares were down about 1.7 per cent in extended trading on Tuesday.

-with files from Reuters

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Solium Capital Inc. (SUM-T) said fourth-quarter revenue increased by 12 per cent year-over-year to $18.9-million (U.S.).

Net earnings decreased by 38 per cent to $800,000 from $1.3-million a year earlier.

Earnings per share came in at 1.6 cents down from 2.6 cents.

Analysts were expecting revenue of $25.5-million and earnings of 3 cents per share.

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Rocky Mountain Dealerships Inc. (RME-T) reported fourth-quarter sales of $285.7-million, in line with the fourth quarter of 2015.

Adjusted earnings per share declined 2 cents to 23 cents.

Adjusted EBITDA declined 8.8 per cent to $8.2 million.

Gross profit declined by 9 per cent to $34.1-million.

Analysts were expecting revenue of $276.3-million and earnings of 33 cents per share.

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Bird Construction Inc.  (BDT-T) recorded fourth-quarter net income of $5.8-million  or 14 cents per share compared with net income of $11.6-million or 28 cents per share in the fourth quarter of 2015.

Construction revenue was $430.7-million compared with $413.4-million of construction revenue recorded in the fourth quarter of 2015.

Analysts were expecting revenue of $405.2-million and earnings of 14 cents per share.

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Redknee Solutions Inc. (RKN-T) says former CEO Lucas Skoczkowski has resigned from the board of directors.

He was removed as CEO last month.

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Polaris Materials Corporation (PLS-T) reported fourth-quarter revenue of $11.7-million versus $11.8-million a year earlier.

Its net loss was $839,000 versus a profit of $294,000 a year earlier.

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SIR Royalty Income Fund (SRV.UN-T) reported fourth-quarter net earnings of $2.2-million, or 26  cents per unit, compared to $2.1-million, or 28 cents a year earlier.

Pooled revenue increased to $67.5-million, up from $67.2-million a year earlier.

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Information Services Corp. (ISV-T) reported fourth-quarter revenue of $21.2-million up from $22.6-million a year earlier.

Net income was $2.9-million or 17 cents per share compared to $4.6-million or 26 cents per share.

Analysts were expecting revenue of $22.6-million and earnings of 24 cents.

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Pine Cliff Energy Ltd. (PNE-T) reported fourth quarter funds flow from operations of $15-million or 5 cents per share, up 129 per cent compared to $6.6-million or 3 cents a year earlier.

Revenue was $35.2-million, up 73 per cent versus $20.3-million in the fourth quarter of 2015.

Earnings were $3.2-million or a penny per share compared to a net loss of $3.3-million or penny per basic share in the fourth quarter of 2015.

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Gamehost Inc. (GH-T) reported fourth-quarter operating revenues of $17.4-million down from $19.4-million in the same quarter of 2015.

Profit was $4.6-million  or 18 cents per share down from $5.2-million or 20 cents a year earlier.

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Penn West Petroleum (PWT-N; PWE-T) reported funds flow from operations of $48-million or 10 cents in the fourth quarter. That compares to $39-million or 8 cents a year earlier.

Its net loss was $232-million or 46 cents versus $1.6-billion or $3.20 a year ago.

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Grande West Transportation Group Inc. (BUS-X) announced new customer orders for approximately $7.5 million.

The orders came from the St. John's Transportation Commission, the City of Oakville, the City of Burlington and the City of Welland,

"We are very pleased to continue to build new relationships with transit agencies throughout Canada and continue to grow with our current customers," said

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About the Author
Contributor

Brenda Bouw is a freelance writer and editor based in Vancouver. She has more than 20 years of experience as a business reporter, including at The Globe and Mail, The Canadian Press, the Financial Post and was executive producer at BNN (formerly ROBTv). Brenda was also part of the Globe and Mail reporting team that won the 2010 National Newspaper Award for business journalism. More

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