Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Intertape Polymer Group Inc. (ITP-T) reported first-quarter revenue increased 0.4 per cent to US$278.9-million year-over-year “primarily due to an increase in volume/mix and additional revenue from the Nortech Acquisition, partially offset by lower selling prices.” Analysts were expecting revenue of US$276.3-million.
Net earnings increased to US$14.2-million or 24 cents US per share up from US$10.5-million or 18 cents US per share a year earlier.
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New Look Vision Group Inc. (BCI-T) said its first-quarter revenues decreased by 4.8 per cent to $68-million from a year earlier, “resulting from COVID-19 temporary store closures, as well as scheduled store closures offset by revenue from newly acquired stores.” Analysts were expecting revenue of $63.4-million
Comparable store-sales orders were down by 14.3 per cent compared to last year.
Its net loss attributed to shareholders was $0.3 million, a decrease of 115 per cent over last year, "mainly driven by the temporary closure of the majority of the company’s stores during the last two weeks of March and the impact of IFRS 16."
Adjusted net earnings attributed to shareholders decreased by 63.4 per cent to $1.4-million or 9 cents per share.
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Park Lawn Corp. (PLC-T) reported first-quarter revenue of $74-million, up from $50.2-million a year ago.
Net earnings were $734,057, or 2.5 cents per share, compared to $3.3-million, or 14 cents, a year ago. Adjusted EPS came in at 25.5 cents versus 22.6 cents.
Analysts were expecting revenue of $73-million and adjusted earnings of 17 cents per share.
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Osisko Gold Royalties Ltd (OR-T; OR-N) reported revenues from royalties and streams of $37.8-million versus $33.5-million a year ago.
Its net loss was $13.3-million or 9 cents per share versus a loss of $26.5-million or 17 cents per share a year ago. Adjusted earnings of $7.5-million or 5 cents per basic share versus $5.8-million or 4 cents a year ago.
Analysts were expecting revenue of $39-million and adjusted earnings of 6 cents.
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Exchange Income Corp. (EIF-T) said its first-quarter revenue grew 3 per cent to $307-million year-over-year. Analysts were expecting revenue of $326.6-million.
Its net loss was $5.3-million, or 15 cents per share, versus a profit of $7.5-million, or 24 cents per share, a year earlier. Adjusted earnings were $2.1-million, or 6 cents, versus $12.7-million, or 41 cents, a year ago.
The company said its Alberta operations have been heavily impacted by both the COVID-19 pandemic and record low oil prices, "which have caused many companies to delay or cancel large capital projects." As a result, the corporation recorded a $6.1-million impairment charge against intangible assets related to the Alberta operations during the quarter.
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Summit Industrial Income REIT (SMU.UN-T) reported revenues of $46.5-million, up from $33.8-million a year ago. Analysts were expecting revenue of $46.9-million.
Net income was $43-million or 31 cents per unit, up from $10.9-million or 11 cents a year ago. Funds from operations were $21.4-million versus $15.6-million a year ago.
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BSR Real Estate Investment Trust (HOM.UN-T) reported first-quarter revenue of US$27.5-million versus US$27.7-million a year ago. Analysts were expecting revenue of US$28-million.
Funds flow from operations came in at US$5.2-million, or 12 cents per unit, versus US$8.1-million, or 20 cents, a year ago. Adjusted FFO per unit came in at 15 cents versus 19 cents a year earlier. Analysts were expecting adjusted FFO to come in at 14 cents.
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Yellow Pages Limited (Y-T) reported total revenues of $88.3-million for the first quarter, roughly in line with expectations of $88-million and down from $104.8-million for the same period last year.
Net earnings remained stable at $12.4-million or 44 cents per share as compared to net earnings of $12.7-million of 45 cents for the same period last year.
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Aimia Inc. (AIM-T) says it has acquired a 10 per cent stake in Chinese outdoor advertising firm Clear Media Ltd. for $75 million.
The move comes as the company works to transform itself from a loyalty rewards company into an investment holding firm.
Aimia says it has acquired 58.8 million common shares in Clear Media, including 19.6 million previously held by clients of Mittleman Investment Management which is also Aimia’s largest shareholder.
It says the investment was made in anticipation of a pending deal by Clear Media’s controlling shareholder, Clear Channel Outdoor, to sell its 50.9 per cent stake to Ever Harmonic Global Ltd.
Clear Media CEO Han Zi Jing holds a 40 per cent stake in Ever Harmonic, while Ant Financial holds 30 per cent. Other shareholders include JCDecaux SA at 23 per cent and JIC Capital Management Ltd. with seven per cent.
The acquisition was announced as Aimia reported a first-quarter loss of $9.6-million or 14 cents per share compared with a profit of $1.05-billion or $6.85 per share a year ago when its results were boosted by the sale of its Aeroplan business to Air Canada.
Late Tuesday, Aimia also announced it has expanded its relationship with Grupo Aeromexico S.A.B. de C.V. (Aeromexico).
The announcement includes several elements, including an agreement in principle to grant Aeromexico a 7-year option to purchase Aimia's stake in PLM Premier, S.A.P.I. (PLM), the operator of the Club Premier loyalty program, at an adjusted EBITDA multiple of 7.5 times, "with a minimum floor of US$400 million for Aimia's stake, subject to final agreement on certain terms and conditions."
-The Canadian Press and Globe and Mail
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