Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
NFI Group Inc. (NFI-T) has cut its dividend by 75 per cent and swung to a loss in the fourth quarter.
The bus maker reported a net loss of US$8.7-million or 12 US cents per share in the fourth quarter versus a profit of US$8.5-million or 14 US cents a year earlier. On an adjusted basis, the loss was 21 US cents per share versus a profit of 13 US cents. The expectation was for a loss of 14 US cents per share in the latest quarter.
Revenue of $695-million was down 2 per cent versus a year earlier and ahead of expectations of US$609-million.
The company declared a dividend of 5.3 cents down from 21.25 cents previously. “Although management continues to believe that the supply and logistics disruptions affecting NFI are temporary, the board has taken the prudent decision to lower the quarterly dividend amount,” it stated, while also calling supply chain disruptions temporary and said it believes there “will be an opportunity for dividend increases in 2023 if the company’s financial performance improves as expected.”
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MDA Ltd. (MDA-T) announced that it is receiving $269-million from the Canadian Space Agency (CSA) for the next phase of the Canadarm3 program.
The company said the award for Phase B of the program will see it complete the preliminary design of the Canadarm3 robotics system that will be used aboard the NASA-led Gateway – “a major, multi-year international collaboration to establish a sustainable space station in lunar orbit to support human and robotic missions to the surface of the Moon.”
“This is another important milestone for MDA that demonstrates our ability to execute in the rapidly accelerating global space economy and further reinforces our role as a worldwide leader in robotics and space operations,” said Mike Greenley, COE of MDA.
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Pollard Banknote Limited (PBL-T) reported sales of $116.5-million for its fourth quarter ended Dec. 31, which it says is a record for the quarter and up from $103.7-million a year earlier. The expectation was for revenue of $120.1-million, according to S&P Capital IQ.
Net income of $5.2-million or 19 cents per share compared to $12.2-million or 47 cents per share a year earlier.
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Patriot One Technologies Inc. (PAT-T) announced a $10-million public offering. The company said it has an engagement letter with Echelon Wealth Partners Inc., which has agreed to do a marketed public offering of units “on a commercially reasonable efforts basis.” It said the unit terms and price of the offering will be determined in the context of the market. Patriot One said it intends to use the proceeds for working capital and general corporate purposes.
The company also reported revenue of $1.2-million for its second quarter ended Jan. 31 compared to $0.3-million a year earlier.
Its loss was $3.1-million or 2 cents per share compared to $3.1-million versus 2 cents a year earlier.
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Alithya Group inc. (ALYA-T) announced the signing of a multi-year master services agreement with a major Canadian financial institution. It didn’t name the institution in the release, but said it was one of Canada’s ‘Big Six’ banks.
It said the agreement consists of a three-year term, with provisions for two one-year renewals. The agreement “ensures that Alithya can respond quickly to the needs of the business by reducing delays between definition and project initiation,” it stated.
The initial statement of work has been established at approximately $4.7-million, with two service agreements representing a cumulative value of $2.9- million already signed, it stated.
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Transat A.T. Inc., (TRZ-T) reported revenue of $202.4-million for its first quarter ended Jan. 31 up from $41.9-million a year earlier. The expectation was for revenue of $238.6-million.
“This increase resulted mainly from a rise in the number of travellers combined with a slight increase in average selling prices,” it stated.
Its net loss was $114.3-million or $3.03 per share compared with $60.5-million or $1.60 per share for the same quarter last year. Its adjusted net loss was $2.53 per share versus a loss of $2.89 per share a year earlier. The expectation was for adjusted EPS to come in at $2.16 per share in the latest quarter.
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AcuityAds Holdings Inc. (AT-T) reported revenue of $36.8-million from a year ago, a 5 per cent year over year increase and in line with expectations of $36.4-million.
Adjusted EBITDA was $5.9-million compared to $7.8-million for the three months ended Dec. 31, 2020. Net income was $2.5-million, compared to net income of $4.2-million a year earlier.
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KP Tissue Inc. (KPT-T) reported fourth-quarter revenue of $424.1-million compared to $385-million a year earlier and ahead of expectations of $385.4-million.
Net income was $42.3-million compared to a loss of $28.5-million a year earlier. “The increase was primarily due to higher income tax recovery, lower other expense, an impairment charge in fiscal 2020 and higher adjusted EBITDA as discussed above, partially offset by higher interest expense and other finance costs and higher depreciation and amortization,” the company stated.
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LifeWorks Inc. (LWRK-T) reported fourth-quarter revenue of $258.4-million up from $249.6-million a year earlier. The expectation was for revenue of $260.8-million, according to S&P Capital IQ.
Its loss was $1.4-million or 2 cents per share versus a profit of $10.8-million or 15 cents a year earlier, according to documents filed on Sedar.com. Adjusted EBITDA was $47.8-million versus $51-million a year earlier.
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Points.com Inc. (PTS-T) reported fourth-quarter revenue of US$115.1-million up from US$56.4-million a year earlier and ahead of expectations of US$106.8-million.
Its net income was US$1.5-million versus a loss of US$700,000 a year earlier. Adjusted EBITDA was US$5.5-million compared to US$400,000 a year earlier.
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The Keg Royalties Income Fund (KEG-UN-T) announced fourth-quarter royalty pool sales of $149.2-million compared to $77.1-million a year earlier. Total income of $7-million was up from $4.2-million a year ago.
Its loss was $1.6-million or 14 cents per share versus a loss of $22.6-million or $1.99 per share a year earlier.
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Bonterra Energy Corp. (BNE-T) reported fourth-quarter revenue of $79.2-million, up from $31.8-million a year earlier.
Net earnings came in at $16.3-million or 46 cents per share versus a loss of $11-million or 33 cents per share a year earlier.
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Surge Energy Inc. (SGY-T) reported fourth-quarter sales of $143.4-million compared to $59.9-million a year earlier.
Net income of $42.9-million or 54 cents per share compared to a loss of $57.7-million or $1.44 per share a year earlier. Adjusted funds flow was $43.3-million or 54 cents per share versus $8.5-million or 21 cents a year earlier.
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Journey Energy Inc. (JOY-T) reported production revenue of $36.7-million up from $19.7-million a year earlier.
Net income of $5.5-million or 10 cents per share compared to $32.3-million or 75 cents a year earlier.
Adjusted funds flow came in at $16.6-million or 31 cents per share versus $6-million or 14 cents a year earlier.
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Atrium Mortgage Investment Corp. (AI-T) announced a $35-million public offering of convertible unsecured subordinated debentures. The company said it has an agreement with a syndicate of underwriters, bookrun by TD Securities Inc. and RBC Capital Markets, that will purchase the debentures.
Atrium said it will use the net proceeds to reduce debt under its revolving operating credit facility, which it said will then be available to be drawn as needed for general corporate purposes, particularly funding future mortgage loan opportunities.
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