Le Chateau Inc. , which gained 2 per cent on Friday, reported that sales for the third quarter ended Oct. 29, 2011 decreased 5.4 per cent to $70.4-million from $74.5-million for the third quarter ended Oct. 30, 2010. Comparable store sales decreased by 8.4 per cent versus the same period a year ago. It said sales were "negatively impacted by reduced traffic as consumers continued to remain cautious on discretionary spending in the context of global economic uncertainty. Unusually mild weather in most Canadian regions also affected demand for winter related categories, necessitating increased promotional activity."
As a result, the company's gross margin percentage in the third quarter of 2011 decreased to 68.8 per cent from 71.6 per cent last year. "In addition to external factors impacting sales and gross margin, the company incurred some non-recurring expenses related to the temporary ramp-up in marketing expenses to accelerate brand repositioning efforts and start-up costs related to the e-commerce initiative which totaled $2.4-million for the third quarter." Net loss for the third quarter amounted to $4.1-million compared to net earnings of $2.5-million for the third quarter ended Oct. 30, 2010. Earnings (loss) per share (diluted) for the third quarter amounted to $(0.16) per share versus $0.10 per share the previous year.
The Cash Store Australia Holdings Inc. soared 90 per cent to 40 cents on Friday when it announced that Don Steffanson will be leaving his role as President and Chief Operating Officer of the company effective immediately. Chairman of the Board, Gordon Reykdal, said: "On an interim basis, the company has appointed Gary Holden as a Consultant and Executive Director. Mr. Holden's immediate mandate is to accelerate restructuring efforts and bring the operations to profitability within the next few quarters and position the company for growth."
Hanfeng Evergreen Inc. , a leading provider of value-add fertilizers in China and South East Asia, announced that it will report its financial results for the first quarter of fiscal 2012 ended Sept. 30, 2011, on Monday, Dec. 12, 2011. The company will also hold a conference call to discuss the financial results on Tuesday, Dec. 13, 2011 at 10. a.m. Eastern Standard Time (EST).
Orvana Minerals Corp ORV-T closed up 4 cents at $1.09 Friday after recovering from hitting a new year low of $1.01 in the early minutes of the session. Orvana, a gold-copper producer, is slated to release annual results on Monday and host a conference all on the results on Tuesday.
Pacific Rubiales Energy Corp. PRE-T, which gained nearly $1 or 5 per cent on Friday in climbing away from near a year low $19.41, announced a cash dividend in the amount of $0.093 (U.S.) per common share. The dividend is payable on Dec. 30, 2011 to shareholders of record as of Dec. 20, 2011. The ex-dividend date is Dec. 16, 2011.
Biopharmaceutical company ProMetic Life Sciences Inc. PLI-T, which was touching a 200-day SMA 15 cents at Friday's close, announced today that it has completed a significant milestone related to an ongoing commercial development program with a multinational company to improve the manufacturing process of an existing biopharmaceutical product. The company said the achievement of this milestone leads to the next stage of the development program and should result in the scaling up of the manufacturing process in 2012.
Golden Harp Resources Inc. GHR-X announced that it has received notice from Mineral Mountain Resources Ltd. MMV-X that Mineral Mountain, which fell 7.5 per cent to a year low of 30.5 cents on Friday, has decided not to proceed with its option on Golden Harp's Main Block property. The Main Block consists of 504 claims units and is located primarily in MacMurchy Township in the Shining Tree area of Ontario. The property adjoins the Block A property which is 30 per cent owned by Golden Harp and subject to a joint venture with Mineral Mountain Resources. Golden Harp, which closed Friday at 7.5 cents compared to a year low of 5.5 cents, retains a 100 per cent interest in the Copper Hill Main Block property.
Brian Halina, the Chairman of Canyon Creek Food Company Ltd. CYF-X, has acquired 26,000 common shares in a series of purchases through the facilities of the TSX Venture Exchange at a price of $.05 per share on Dec. 09, 2011. The acquisition brings Mr. Halina's total direct and indirect shareholdings in Canyon Creek to 58.9 per cent of the company's issued and outstanding share capital. Halina advises that the shares were acquired for investment purposes only and that he may acquire more securities of the company at any time in the future. CYF lost 1.5 cents or 30 per cent on Friday in closing at 3.5 cents.
Azure Dynamics Corporation AZD-T, the producer and developer of hybrid electric and electric components and powertrain systems that has almost touched year low 7 cents at Friday's close, today announced 29 new Ford Transit Connect Electric sales, including 8 units in Europe and 21 units in North America, which includes a 3 unit reorder from Johnson Controls, Inc. Scott Harrison, Azure's CEO, said: "With these new orders, our global Transit Connect Electric sales exceed $29-million in less than 12 months of production. And, our network of over 150 Ford dealers continues to drive our sales growth while providing outstanding service for our customers."
Midas Gold Corp. MAX-T today announced assay results from two newly discovered mineralized zones, along with additional assays from its ongoing exploration and development core and reverse circulation drilling program on the Hangar Flats and Yellow Pine deposits at its Golden Meadows Project, Idaho. The company said highlights include two new zones of mineralization discovered adjacent to historic property boundaries, one at Hangar Flats and the other at Yellow Pine.
Astur Gold Corp. AST-X, which landed between 20-day SMA $1.73 and 50-day SMA $1.75 at Friday's close, announced today that the Regional Ministry of Economy and Employment of the Principality of Asturias and the Regional Ministry of Public Works, Territorial Planning, and the Environment of the Principality of Asturias have granted the company permission to proceed with geotechnical drilling for the Salave gold deposit in Asturias, Spain. CEO Cary Pinkowski said: "This is a significant first step in moving Salave through the permitting stage and towards production. We will commence drilling in the coming weeks."
DHX Media Ltd. DHX-T, an independent international producer, distributor and licensor of mainly children's entertainment content, today announced its audited financial results for the quarter ended Sept. 30, 2011. The company said revenues during the quarter climbed 39 per cent to $16.9-million from $12.2-million in first quarter 2010. EBITDA was $1.66-million, up $0.02-million or 1 per cent over $1.64-million for first quarter 2011. Net income, however, was lower at $0.3-million compared to $0.4-million for first quarter 2011, a decrease of $0.1-million in absolute dollars, or consistent on an earnings per share basis at $0.01 vs. $0.01 for first quarter 2011.