Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Cineplex Inc. (CGX-T) reported box office revenue of $36-million in August, which it said represented 64 per cent of box office revenues when compared to the same month in 2019 before the pandemic. The performance is driven by the release of big movies such as Bullet Train and the continued success of Top Gun: Maverick,
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Corus Entertainment Inc. (CJR.B-T) warned of a contraction in advertising demand and spending across the North American media industry, which could impact its near-term results, citing “the complex macroeconomic environment and ongoing pandemic-related impacts.”
The company said it expects “meaningful year-over-year softness in television advertising revenue” but added that it “believes it remains well-positioned to create value over the long term.”
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Bausch Health Companies Inc. (BHC-T) responded to the U.S. Food and Drug Administration’s (FDA) tentative approval of the Norwich Pharmaceuticals rifaximin 200 mg product, a rival drug.
The company said it was a so-called “Paragraph III filing,” which is when an abbreviated new drug application doesn’t intend to market its generic product until the patent expiration.
It said the FDA will therefore not grant full approval until the expiry of its patents for XIFAXAN (rifaximin) 200 mg product for travelers’ diarrhea on July 24, 2029.
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Ceres Global Ag Corp. (CRP-T) reported revenue of US$278.2-million for its fourth quarter ended June 30. That compared to revenue of US$197-million a year ago.
Its net loss of US$22.5-million or 73 cents per share compared to net income of $11.7-million or 38 cents a year ago.
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Shawcor Ltd. (SCL-T) announced that its pipe coating division has been awarded a $35-million contract by Allseas to provide anti-corrosion, internal flow coat, and concrete weight coatings for the Darwin Pipeline Duplication project, located offshore Northern Australia.
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Enghouse Systems Limited (ENGH-T) reported revenue of $102.1-million for its third quarter ended July 31, compared to revenue of $117.6-million for the same quarter a year earlier. The expectation was for revenue to come in at $107.2-million in the latest quarter, according to S&P Capital IQ.
Net income for the quarter was $18.1-million or 33 cents per share, compared to $21.2-million or 38 cents per share last year.
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Diversified Royalty Corp. (DIV-T) announced a 6.8-per-cent increase in its monthly dividend from 1.833 cents per share per month (or 22 cents per share on an annualized basis) to 1.958 cents per share per month (23.5 cents per share on an annualized basis) effective next month.
Following this dividend increase, the company said its annualized dividend of 23.5 cents per share will have fully recovered to pre-pandemic levels, and with a lower payout ratio.
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Tecsys Inc. (TCS-T) reported revenue of $34-million for its first quarter ended July 31, which was in line with expectations and compared to $33-million a year earlier.
Net profit of $40,000 or nil per share compared to a net profit of $244,000 or 2 cents a year ago.
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Marimaca Copper Corp. (MARI-T) announced a US$15.5-million investment from Osisko Gold Royalties for a 1 per cent net smelter return royalty on certain claims covering the Marimaca Oxide Deposit and some claims immediately adjacent to it.
Proceeds will be used to advance permitting, a definitive feasibility study and general corporate and administrative expenses. “Osisko’s royalty will effectively replace certain existing royalties on the project,” the company stated.
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Copperleaf Technologies Inc. (CPLF-T) announced that United Utilities, the company responsible for providing water and wastewater services to over seven million customers in the northwest area of England, has chosen to use the company’s services.
“United Utilities is the sixth U.K.-based water company to join the Copperleaf community,” stated Stefan Sadnicki, managing director for Copperleaf in Europe, Middle East, and Africa.
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