BRENDAN MCDERMID
The North West Company Inc. will release its unaudited financial results for the fourth quarter ended Jan. 31, 2012, today. In conjunction with this release, North West will host a conference call this afternoon at 3pm EST. North West expects to release its audited financial statements for the year ended Jan. 31, 2012 on April 9, 2012.
InnVest REIT realized a net loss of $4.3-million in the fourth quarter of 2011 compared to net income of $213.9-million in 2010. The prior year results include a $232.1-million deferred income tax recovery recognized following InnVest's reorganization to a stapled REIT on Dec. 31, 2010. Funds from operations and distributable income improved $1.5-million and $1.4-million, respectively, reflecting the benefit of lower interest charges.
Pure Technologies Ltd. recorded fourth-quarter 2011 revenue of $14.6-million, EBITDA of $3.9-million and profit of $1.4-million. This compares to revenue of $16.5-million, EBITDA of $2.6-million and profit of $2.5-million in 2010. Its stock fell more than 3 per cent yesterday.
AbitibiBowater Inc., doing business as Resolute Forest Products , announced that it has received a favorable decision from the federal Minister of Industry, following his review of the company's proposed acquisition of Fibrek Inc. under the Investment Canada Act. But Fibrek wants to do a deal instead with Mercer International .
Royal Nickel Corporation , which fell more than 5 per cent to near year lows on Thursday, said it incurred a loss of $1.8-million ($0.03 per share) for the three months ended December compared to $4.7-million ($0.07 per share) in the same period last year. The lower loss is primarily due to a decrease in general and administrative expenses of $2.2-million, which reflects a $2.1-million reduction in the share based payments charge.
Freegold Ventures , which gained more than 4 per cent yesterday, said it intersected 0.69 g/t gold over 127 metres Golden Summit Project, Alaska.
Connacher Oil and Gas Ltd.'s which in January signaled intent to seek a buyer, reported fourth-quarter losses of more than double from the previous year, as well as a lowered 2012 production forecast. Fourth-quarter losses were $59.5-million, or 13 Canadian cents a share, up from a loss of $25.6-million, or 6 Canadian cents a share, a year ago. Revenue, net of royalties, rose 29 per cent to $226.5-million on higher oil and 18 per cent higher bitumen prices. The company expects production of 12,600 barrels of oil equivalent per day (boe/d) to 13,900 boe/d. Total production in 2011 averaged 14,493 boe/d.
Stella-Jones Inc. reported a 26 per cent rise in fourth-quarter profit helped by strong demand for its railway ties. Fourth-quarter profit rose to $13.4-million, or 83 Canadian cents a share, from $10.7-million, or 67 Canadian cents a share, a year ago. Sales rose 11 per cent to $147.5-million. Sales of railway ties -- used as a base for railway tracks -- were up 19 per cent at $74.4-million.
Technology service provider NeuLion, Inc. today announced financial results for the three months ended Dec. 31, 2011. The company said revenue decreased by $0.4-million, or 4 per cent, as compared to the same period a year ago. Non-GAAP Adjusted EBITDA loss improved by $0.2-million, or 18 per cent, as compared to the same period a year ago. Consolidated net loss improved by $0.1-million, or 3 per cent, as compared to the same period a year ago.
Vaaldiam Mining Inc. , which was just 4 cents above year lows yesterday, announced today that for the year ended Dec. 31, 2011 it recorded a net loss of $13,247,000 or $0.18 per share compared to a net loss of $6,973,000 or $0.10 per share for the same period in 2010. The company ended the period with a cash position of $4.5-million and working capital of $3.2-million.