Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
GMP Capital Inc. (GMP-T) reported revenue of $59.2-million in third quarter, up 72 per cent compared with the same period a year ago. Net income was $2.9-million or 2 cents per share, compared with a net loss of $2.8-million or 6 cents in third quarter 2017. On an adjusted basis third quarter net income was $11.3-million or 13 cents.
"We are pleased with our performance in third quarter of 2018 as accommodative market conditions for investment banking activity drove revenue growth of 72 per cent, " stated CEO Harris Fricker, adding that its "early leadership position in the financing of emerging opportunities in cannabis and blockchain, has provided the key ingredients for a step change in our non-resource franchise."
The company also reinstated its quarterly cash dividend of 2.5 cents per share and announced a special cash dividend of 7.5 cents.
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Fiera Capital Corp. (FSZ-T) reported third-quarter revenues of $137.1-million, a 28-per-cent increase compared to $107.1-million for the same period last year. "The year-over-year increase in revenues is mainly due to organic growth, combined with market appreciation, mostly from the institutional and private wealth sectors ..., " the company stated.
Net earnings attributable to shareholders came in at $1-million or a penny per share versus $4.8-million, or 5 cents a year ago. It said the drop was "mainly from the increase in charges in the accretion and change in fair value of the purchase price obligations related to the CNR acquisition, combined with the rise in debt interest and income taxes, partially offset by an improvement in operating margins."
Adjusted earnings were $27.5-million or 27 cents versus $23.1-million, or 27 cents for the same period in 2017.
Analysts were expecting revenue of $130.3-million and adjusted earnings of 26 cents per share.
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Chemtrade Logistics Income Fund (CHE.UN-T) reported revenue from continuing operations of $418.2-million in the third quarter, which was $17.7-million higher than the third quarter of 2017. Analysts were expecting revenue of $422.6-million in the latest quarter. Net earnings from continuing operations were $9.2-million, compared with $22.4-million in the same period in 2017.
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Kinaxis Inc. (KXS-T) reported revenue was up 18 per cent to US$39.6-million in the third quarter compared to last year. Profit declined to US$5.2 million from US$6-million. Its profit under the new IFRS system, adopted in January, was US$2.7-million for the quarter and revenue was US$36.6-million. Analysts were expecting revenue of US$39.5-million and profit of US$3.7-million.
The company also adjusted its revenue guidance slightly "to reflect the delays in closing certain new business, while reaffirming our strong EBITDA guidance. Next quarter, we expect to provide guidance for 2019 that reflects accelerating revenue growth," said Richard Monkman, the company's chief financial officer.
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Lundin Gold Inc. (LUG-T) reported a profit of US$7.3-million or 3 cents per share in the third quarter, versus a loss of US$16-million or 13 cents a year ago. Analysts were expecting a loss of 4 cents per share.
During the third quarter of 2018, the company said it recorded a derivative gain from the fair value revaluation of its long-term debt of US$17.9-million compared to a derivative loss of US$8.3-million recognized in the third quarter of 2017.
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Lucara Diamond Corp. (LUC-T) reported revenue of US$45.7-million down from US$77.9-million a year ago. Net income was US$5.1-million or a penny per share versus a profit of US$32.9-million or 9 cents a year ago. Analysts were expecting revenue of $52.8-million and earnings of 4 cents per share.
"Revenue, EBITDA and earnings per share performance were as expected and reflect the overall timing of the company's sales tenders and its transition to a blended sales tender process in September 2018," the company stated.
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Equitable Group Inc. (EQB-T) reported net income of $47.8-million in the third quarter, up from $37.9-million a year ago. Diluted earnings per share were $2.80, up 27 per cent from $2.21 in the same period of 2017. Analysts were expecting earnings to come in at $2.55 per share and net income of $42.3-million.
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Exchange Income Corp. (EIF-T) said its third-quarter consolidated revenue increased 22 per cent to $308-million versus a year ago. Adjusted net earnings grew by 15 per cent to $29.6-million, while adjusted net earnings per share increased 12 per cent to 94 cents. Analysts were expected adjusted EPS of 87 cents and revenue of $297.9-million.
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AutoCanada Inc. (ACQ-T) reported revenue was $866.9-million in the third quarter, up 3.9 per cent compared with the third quarter of 2017. Same-store revenue declined by 3 per cent. Analysts were expecting revenue of $843.9-million. Its net loss attributable to shareholders was $16.5-million or 60 cents per share versus a profit of $12-million or 44 cents a year ago. Its adjusted net loss was $600,000 or 2 cents versus net income of $12.1-million or 50 cents a year ago.
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Alcanna Inc. (CLIQ-T) reported third-quarter sales of $168.8-million up from $164-million a year ago and ahead of expectations of $167.6-million. Its net loss was $4-million or 11 cents versus a profit of $1-million or 4 cents a year ago.
“During the third quarter, Alcanna continued investing significantly in assets, people and pricing strategy to position ourselves to achieve our growth opportunities in both our liquor and cannabis businesses,” said CEO James Burns. “While these investments are, we believe, temporarily impacting our operating profits as we have been intentionally lowering gross margin to regain lost market share in our core business we are beginning to see the benefits with a positive same-store sales increase this quarter in Canada for the first time in 5 quarters.”
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Morguard Corp. (MRC-T) reported third-quarter revenue of $294-million compared to $279.6-million a year earlier. Net income increased to $54.7-million compared to $23.3-million for the same quarter last year.
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The Westaim Corp. (WED-X) recorded a net profit of US$4.4 million or 3 cents per share for the third quarter ended Sept. 30 compared to a net profit of $6.2-million or 4 cents per share for the same quarter last year.
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Sierra Wireless, Inc. (SWIR-Q; SW-T) reported third-quarter revenue of US$203.4 million, an increase of 18 per cent compared to US$172.6-million in the third quarter of 2017.
Its net loss was US$1-million or 3 cents per diluted share compared to net earnings of US$1.4-million or 4 cents per diluted share in the third quarter of 2017.
Analysts were expecting revenue of US$202.2-million and earnings of 3 cents in the latest quarter.
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MAV Beauty Brands Inc. (MAV-T) reported third-quarter revenue of US$26.2-million up from US$10.5-million a year earlier and ahead of expectations of US$23.5-million. “The year-over-year increase includes US$14.1-million in revenue from the acquisitions, as well as organic growth of US$1.6 million, or 15.6 per cent,” the company stated.
Its net loss was US$5.8-million versus a profit of US$331,000 a year ago. Its adjusted loss was US$1.1-million versus a profit of US$516,000 last year.
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Enghouse Systems Ltd. (ENGH-T) said it has acquired Capana Sweden AB, which has a software platform for wholesale billing and partner settlements, for an undisclosed price.
"Capana's product suite is highly complementary with the Enghouse Networks portfolio," said Sunil Diaz, general manager, Enghouse Networks. "Their portfolio expands our global customer base and product offerings into management of next generation wholesale revenue streams and IoT. "
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Boralex Inc. (BLX-T) reported a third-quarter net loss of $40-million versus a loss of $26-million a year ago. Revenue from energy sales came in at $79-million up from $74-million and below expectations of $87.2-million.
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Echelon Financial Holdings Inc. (EFH-T) is selling its Echelon Insurance division to CAA Club Group for $175-million in cash.
"The announcement of the agreement follows an extensive strategic review process overseen by a committee of EFH's board of directors comprised exclusively of independent directors," the company stated.
It said the committee considered “numerous alternatives.”
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Intefor Corp. (IFP-T) recorded net earnings of $28.1-million or 40 cents per share in the third quarter, compared to $16.8-million or 24 cents per share a year earlier.
Adjusted net earnings came in at $28.2-million or 40 cents per share, compared to $20-million, or 29 cents a year ago. Analysts were expecting adjusted EPS of 44 cents.
Total sales were $570.5-million up from $489.2-million a year earlier.
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Martinrea International Inc. (MRE-T) reported third-quarter sales of $851-million verus $838.5-million a year ago. Net income was $36.4-million or 42 cents per share versus $36.2-million or 42 cents a year earlier. Analysts were expecting earnings of 46 cent per share and revenue to be $859.7-million in the latest quarter.
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Total Energy Services Inc. (TOT-T) reported third-quarter revenue of $232.9-million up from $185.2-million a year ago. Net income was $8.7-million or 19 cents per share versus net income of $3.7-million or 9 cents last year.
Analysts were expecting revenue of $231.8-million and earnings of 19 cents.
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Extendicare Inc. (EXE-T) reported third-quarter revenue of $280.3-million up 2.6 per cent from a year ago and slightly ahead of expectations of $279.7-million. Earnings came in at $8.6-million or 10 cents per share versus $6.5-million or 7 cents a year ago.