Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Sleep Country Canada Inc. (ZZZ-T) says its third-quarter revenue increased 4.4 per cent to $183.9-million from $176.2-million a year ago. Same-store sales increased 0.2 per cent year-over-year.
Net Income increased 3.9 per cent to $23.7-million from $22.8-million a year ago. Earnings per share (EPS) rose 4.9 per cent to 64 cents from 61 cents a year ago. Adjusted EPS increased 6.3 per cent to 67 cents from 63 cents.
Analysts were expecting revenue of $194.7-million and adjusted EPS of 66 cents.
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Chemtrade Logistics Income Fund (CHE.UN-T) said it has settled the main class action civil lawsuit related to “alleged anti-competitive conduct” of General Chemical entities acquired by Chemtrade in 2014.
"The settlement remains subject to interim and final approval by the court and consists of a payment of US$51-million plus assignment of the proceeds, net of defence costs, of the outcome of Chemtrade's dispute with the vendor of General Chemical," the company stated.
It also said a number of related civil proceedings based on the same conduct remain outstanding, which will result in Chemtrade taking a reserve of $35-million in its third quarter financial statements to be released on Nov. 8,
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ZCL Composites Inc. (ZCL-T) reported third-quarter revenue of $49.7-million, which was below $52.4-million for the same quarter prior year, “primarily due to unforeseen customer delays in tank shipments in most regions of the U.S.” the company stated.
Net income of $5.2-million or 17 cents per share, which was in line with expectations and compared to $5.4-million or 17 cents a year ago.
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Cardinal Energy Ltd. (CJ-T) reported revenue of $113.6-million in the third quarter, up 32 per cent from $86-million a year ago. Analysts were expecting revenue of $116.5-million. Profit came in at $9-million or 8 cents versus a loss of $12-million or 11 cents a year ago.
Adjusted funds flow was $27.1-million or 23 cents up compared to $23.5-million or 21 cents per share last year.
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Calian Group Ltd. (CGY-T) said it has acquired IntraGrain Technologies Inc., a Canadian agriculture technology firm based in Regina, Sask.
“IntraGrain’s leading solutions and staff will strengthen our innovation agenda at Calian and provide additional exposure to AgTech and ancillary markets – with excellent potential in domestic, U.S. and global markets," Kevin Ford, CEO of Calian.
The price wasn't disclosed in the release.
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Aleafia Health Inc. (ALEF-X) said it plans to acquire a 10-per-cent equity stake in CannaPacific Pty Ltd., a licensed Australian medical cannabis company based.
"Under the term sheet, Aleafia will provide CannaPacific with technical expertise in cannabis cultivation, processing, distribution and medical clinic operations," the company stated.
“This strategic investment in an emerging medical cannabis market marks Aleafia’s first step towards a broader global expansion,” said Aleafia chairman Julian Fantino.
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Baytex Energy Corp. (BTE-T; BTE-N) reported third-quarter sales of $436.8-million up from $258.6-million a year earlier.
Net income was $27.4-million or 7 cents per share versus a loss of $9.2-million or 4 cents a year earlier.
Analysts were expecting revenue of $408.7-million and a loss of a penny per share.
Adjusted funds flow came in at $171.2-million or 45 cents versus $77.3-million or 33 cents for the same time last year.
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Denison Mines Corp. (DML-T; DNN-N) is raising $5-million in a bought deal private placement of flow-through shares.
It has an agreement with Cantor Fitzgerald Canada Corporation as a sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters, to purchase about 5 million flow-through common shares for $1.01 per share.
The company said it intends to use the gross proceeds for exploration expenses related to its Canadian uranium mining exploration projects in Saskatchewan.
Dorel Industries Inc. (DII.B-T; DII.A-T) reported third-quarter revenue of US$670.4-million, up 4.3 per cent from US$642.6-million a year ago.
Reported net income was US$9.6-million or 29 cents per share, compared to US$13.3-million or 41 cents per share last year. Adjusted net income was US$11-million or 34 cents per share, compared to US$14.5-million or 44 cents per share a year ago.
Analysts were expecting revenue of US$659.2-million and adjusted earnings of 37 cents.
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Absolute Software (ABT-T) reported its first-quarter revenue of US$24.3-million, which was in line with expectations and an increase of 6 per cent over the same period last year.
Net income was US$1.3-million or 3 cents per share versus a loss of US$100,000 or nil per share last year. Analysts were expecting EPS of 2 cents.
The company also named Christy Wyatt as CEO and member of the board effective Nov. 26. "The move comes at a time of double-digit enterprise and government revenue growth, driven by a demand for endpoint visibility and control solutions to protect data and devices used by remote employees," the company stated.
Before joining Absolute, she served as CEO of Dtex Systems, a user behaviour intelligence company.