Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Chorus Aviation Inc. (CHR-T) reported fourth-quarter net income of $2-million or a penny per share, including an unrealized foreign exchange loss of $32.9-million. That compared to profit of $20-million a year ago. Adjusted net income of $35.1-million or 25 cents per share compared to adjusted net income of $23.6-million or a year earlier. Analysts were looking for adjusted net income of 23 cents.
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TVA Group (TVA.B-T) announced an agreement to acquire the companies forming the Incendo group, a Montreal-based producer and distributor of television programs for international markets, for approximately $19.5-million.
“TVA Group is happy to add Incendo, a local company with an international profile known for its excellent content, to its operations,” stated CEO France Lauzièr. “The transaction is in keeping with our push to increase our revenues from other markets, step up our international development and expand our footprint, especially in English-language markets.”
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Home Capital Group Inc. (HGC-T) says its fourth-quarter profit rose compared with a year ago as its mortgage originations climbed 85 per cent.
The alternative mortgage lender says it earned $35.8 million or 46 cents per share for the quarter ended Dec. 31 compared with a profit of $30.6 million or 38 cents per share in the same quarter in 2017.
Analysts on average had expected a profit of 43 cents per share for the quarter, according to Thomson Reuters Eikon.
Mortgage originations for the last three months of 2018 totalled $1.61 billion, up from $872.1 million in the fourth quarter of 2017.
For the fourth quarter of 2018, provisions for credit losses amounted to $3.9 million or 0.10 per cent of gross loans, compared with $3.4 million or 0.09 per cent for the same period in 2017.
In its outlook, Home Capital says it expects that the early signs of stabilization in the Canadian real estate market will persist for much of 2019.
-The Canadian Press
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Pinnacle Renewable Energy (PL-T) said its fourth-quarter revenue increased 42 per cent to $103.7-million, compared to $73-million a year earlier, which was ahead of expectations of $98-million. Adjusted EBITDA totaled $13.8-million compared to $12.8-million a year earlier.
Net profit was $7.5-million compared to $100,000 a year ago. "The variance was primarily attributable to a $7.7-million decrease in finance costs, partially offset by a $1.5-million increase in income tax expense," the company stated.
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Canfor Corp. (CFP-T) reported fourth-quarter sales of $1-billion down from $1.2-billion a year earlier. Its net loss was $52.4-million or 42 cents versus a profit of $131.8-million or $1.02 a year ago. Analysts were expecting revenue of $983.3-million and a loss of 17 cents.
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Canfor Pulp Products Inc. (CFX-T) reported fourth-quarter sales of $289.7-million, up from $257.8-million a year ago. Net income was $14.2-million or 21 cents versus a profit of $45.2-million or 69 cents per share a year earlier.
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Bonterra Resources Inc. (BTR-X) announced a “best efforts” private placement to raise gross proceeds of up to $30-million. The offering will consist of a combination of 1,873,000 common shares of the company issued on a flow-through basis at a price of $2.67 each and 12,821,000 common shares on a non-flow-through basis.
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Boardwalk Real Estate Investment Trust (BEI.UN-T) reported same-store total rental revenue $109.2-million compared to $104.6-million. Total rental revenue was $110.4-million versus $106.3-million a year earlier.
Profit for the period was $34.1-million versus a loss of $67.8-million while funds from operations came in at $27.4-million or 54 cents per unit compared to $26.7-million or 53 cents a year ago. Analysts were expecting FFO per share to come in at 58 cents.
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Eldorado Gold Corp. (ELD-T) reported fourth-quarter revenue of $92.8-milion down from $101.4-million a year ago. Analysts were expecting revenue of $100.8-million. Its net loss was $218.2-million or $1.38 per share. versus a loss of $20.7-million or 15 cents a year earlier.
The company recorded an impairment adjustment for Olympias of $330.2-million in the fourth quarter. "The company believes this is reflective of the continued jurisdictional risk with obtaining permits in Greece, and the recent softening of the global concentrate market."
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Freshii Inc. (FRII-T) said its system-wide sales grew to $40.6-million in the fourth quarter, an increase of 9 per cent over the same period last year. Same-store sales fell 6.1 per cent, compared to same-store sales growth of 6.4 per cent for the same period a year earlier.
Total revenue was $5.7-million, which was in line with expectation and compared to $4.8-million a year ago. Its net loss was $483,000 compared to $620,000 a year ago.
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Guardian Capital Group Limited (GCG-T) reported net revenue of $44.3-million in the fourth quarter, up from $39.1-million a year ago. Its net loss attributable to shareholders was $70.4-million or $2.63 per share versus a profit of $44.4-million or $1.51 a year earlier.