Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Secure Energy Services Inc. (SES-T) reported total revenue of $705.5-million in the first quarter, up from $450.6-million a year earlier.
Net earnings were $6-million or 4 cents per share versus $3.4-million or 2 cents per share a year earlier.
Analysts were expecting revenue of $615.7-million and earnings of 5 cents per share.
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Dirtt Environmental Solutions Ltd. (DRT-T) says its first-quarter revenue increased to $80.7-million in the first quarter up from $65.1-million a year earlier.
Net income was $3.6-million or 4 cents per share compared to a loss of $1.4-million or 2 cents a year earlier.
Analysts were expecting revenue of $78.4-million and earnings of 2 cents per share.
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Argonaut Gold Inc. (AR-T) reported net income of $12.2-million or 7 cents per share in the first quarter, up from $12-million or 7 cents a year earlier. Revenue was $52.9-million up from $44.5-million a year ago.
Adjusted net income was $7.9-million or 4 cents per share versus $4.9-million or 3 cents a year earlier. Analysts were expecting earnings of 3 cents per share.
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CRH Medical Corp. (CRH-T; CRHM-N) reported revenue of $24.7-million in the first quarter compared to $21.4-million for the same quarter last year. Analysts were expecting revenue of $23.9-million in the latest quarter.
Adjusted operating EBITDA was $12.4-million up from $11-million a year earlier.
Separately, CRH says it has acquired a 51-per-cent interest in a gastroenterology anesthesia practice in Dayton, Ohio, which provides services to three ambulatory surgical centers. The price wasn’t disclosed. CRH said the transaction was financed through a combination its credit facility and cash on hand.
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5N Plus Inc. (VNP-T) says it has secured a series of multi-year contracts for the supply of semiconductor materials and ancillary services associated with the manufacturing of thin-film photovoltaic (PV) modules by First Solar, Inc.
“Given the company’s current participation and leadership in this sector, these new contracts are not expected to require additional investments by 5N Plus,” it stated.
It said the terms of these contracts will be in effect until early 2021.
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Cara Operations Ltd. (CARA-T) says it has appointed Frank Hennessey as CEO as of May 10. Cara said current CEO Bill Gregson will take on the role of executive chairman of the board.
Mr. Hennessey was most recently president and CEO of Imvescor Restaurant Group. Prior to that, he was president and CEO of Bento Sushi.
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Reitmans (Canada) Ltd. (RET.A-T) says it has appointed its vice-president comptroller, Richard Wait, as its chief financial officer, effective on Aug. 17. It said CFO Eric Williams is retiring.
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Supremex Inc. (SXP-T) says it has acquired Groupe Deux Printing Inc. and its related company Pharmaflex Labels Inc. for $11.3-million “on a cash-free and debt-free basis subject to customary adjustments for working capital and other items.”
“With packaging representing close to 30 per cent of our revenues on a pro-forma basis, we are now one step closer to reach our 50/50 diversification objectives, which is critical to our long-term success as the secular decline in the Canadian envelope market continues,” said CEO Stewart Emerson.
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Aleafia Health Inc. (ALEF-X) and CannTrust Inc. (TRST-T) have entered into a strategic genetic supply agreement that sees Aleafia will receive various strains of high-quality starter genetics for its first licensed production facility in Scugog, Ont. and CannTrust taking the right of first refusal to purchase product from Aleafia.
Aleafia is expecting to complete its first harvest in May and is says it’s expecting to receive its sales and distribution license from Health Canada. CannTrust will also have the ability to purchase product from Aleafia’s harvest. “This would support CannTrust’s patient base and provide Aleafia with revenue growth in the near term, augmenting the existing revenue derived from the nationwide Canabo clinic network,” according to a release.
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TVA Group (TVA.B-T) says it plans to acquire the Serdy Média inc. and the Serdy Vidéo inc. group of companies for a total of $24-million.
“The acquisition will equip TVA to further diversify the content it offers Quebec viewers by adding the Évasion and Zeste specialty channels,” the company stated in a release.
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Calfrac Well Services Ltd. (CFW-T) reported first-quarter revenue of $582.8-million, an increase of 117 per cent from $268.8-million in the same period in 2017.
Net income attributable to shareholders of Calfrac was $3.2 million or 2 cents per share compared to a net loss of $19.5-million or 14 cents per share in the same period last year.
Analysts were expecting revenue of $528.2-million and earnings of 5 cents per share in the latest quarter.
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Ballard Power Systems (BLDP-Q) confirmed it has received a purchase order from Van Hool NV, a bus manufacturing partner in Belgium, for 40 fuel cell modules to power buses under the Joint Initiative for hydrogen Vehicles across Europe funding programs.
“This is the largest order ever for fuel cell buses in Europe and will be the first deployments under the JIVE I program,” said Rob Campbell, Ballard chief commercial officer, in a release.
Separately, Ballard announced that it has signed a supply agreement with Hyster-Yale Group, to supply air-cooled fuel cell stacks for use in powering lift trucks and support on the design of a fuel cell electric propulsion system to power these lift trucks.
“The collaboration with Ballard, Nuvera, and Hyster-Yale will focus on air-cooled stacks for low power applications, complementing the existing Nuvera fuel cell solutions,” Ballard stated in a release.
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Sunniva Inc. (SNN-C) reported fourth-quarter revenue of $5.9-million versus nil a year earlier.
Net income was $159,000 or 1 penny per share versus a loss of $1.6-million or 11 cents a year earlier.
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Alacer Gold (ASR-T) reported first-quarter sales of US$56.3-million up from US$42.8-milion for the same quarter a year earlier.
Total net profit was US$34.8-million versus a profit of US$12.2-million a year earlier.
Profit attributable to shareholders was US$26.7-million or 9 cents per share versus a profit of $8.7-million or 3 cents a year ago.
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Theratechnologies Inc. (TH-T) says it no longer needs an investment of US$13-million for post-approval commitments after the Food and Drug Administration (FDA) released the comapny from those obligations related to the approval of its EGRIFTA product.
At the time of approval of EGRIFTA on Nov. 10, 2010, the FDA requested that the company conduct two large safety clinical trials, the company stated.
“The FDA determined that these two large-scale post-approval clinical trials are no longer required as the current labeling adequately reflects the safety profile of EGRIFTA,” the company stated in a release. “The FDA also concluded that the size of the HIV patient population with lipodystrophy did not make such a requirement feasible.”
Theratechnologies estimated that the post-approval commitments would require an additional investment of US$13-million, “which will no longer be required.”
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Lydian International Limited (LYD-T) says its president and CEO Howard Stevenson has resigned effective today. He also resigned from the board.
The board appointed João Carrêlo in his place, effective today. Mr. Carrêlo is a member of the board and serves as a non-executive director on the boards of TMAC Resources Inc. and Lucky Minerals Inc.
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Stuart Olson Inc. (SOX-T) says it has been awarded approximately $125-million in new contracts.
It said the new projects include a large agricultural facility in Western Canada, which was recently awarded to the Buildings Group and its joint venture partner. Its Buildings Group has also been awarded a highway construction project, which has commenced.
“These new contract awards represent important wins for both our Buildings Group and Industrial Group,” said David LeMay, Stuart Olson’s CEO. “The fact that these awards include our branches in Western Canada and Ontario and represent a mix of public, private and industrial projects, is a reflection of the strength of our diversification strategy and our strong relationships with repeat clients.”
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NetCents Technology Inc. (NC-CN) says trading on the Canadian Securities Exchange has been halted, “due to the continuous disclosure requirements not being met by the company.”
The company said in a release that it’s “working diligently to resolve this matter in an expedited fashion.”
It said the halt has not had any impact on its operations.