Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Boston Pizza Royalties Income Fund (BPF-UN-T) reported that same-restaurant sales grew 39 per cent in the first quarter compared to a negative 25 per cent for the same period one year ago.
Franchise sales of Boston Pizza restaurants in the royalty pool were $178.6-million for the period compared to $129-million for the first quarter of 2021.
Revenue of $9.5-million compared to $6.9-million a year ago.
Net income was $12.9-million for the period compared to $11.6-million for the first quarter of 2021.
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Yellow Pages Limited (Y-T) reported revenues decreased 7.8 per cent in the first quarter to $67.8- million compared to $73.5-million a year ago. The expectation was for revenue of $65.2-million, according to S&P Capital IQ.
Net earnings increased to $14.6-million or 56 cents per share compared to $12.1-million or 44 cents a year ago.
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Exchange Income Corp. (EIF-T) reported record first-quarter results and announced the completion of two acquisitions.
The first was the acquisition of Northern Mat & Bridge of Calgary for $325-million, which it said was its largest purchase to date. The company said the acquisition was funded by issuing $35-million of its common shares and $290-million in cash from its credit facility.
EIC has also acquired Advanced Paramedic Ltd of Peace River, Alta for $15-million. It said the purchase was funded by issuing $2-million shares to the vendors and $13-million in cash from its credit facility.
The company also reported record-high revenue of $400-million for its first quarter, an increase of 33 per cent versus a year ago. The expectation was for revenue of $339-million.
Net earnings came in at $4-million or 10 cents per share compared to net earnings of $7.1-million or 20 cents a year ago. Adjusted net earnings of $7.8-million for the quarter, or 20 cents per share, compared to $10.5-million or 30 cents per share a year ago.
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Equitable Group Inc. (EQB-T) reported its “best-ever quarter of earnings” for the period ended March 31.
The company said its revenue was $187.7-million up from $150.2-million a year ago. Net interest income was $162.2-million, which was ahead of expectations of $160.5-million, up from $133.9-million a year ago.
Net income of $87.9-million or $2.51 per share compared to net income of $68.1-million or $1.98 per share a year ago. The result was above expectations of $2.10 per share.
Equitable also announced a 4-per-cent increase to its quarterly dividend to 29 cents per share or $1.16 annualized.
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MDA Ltd. (MDA-T) reported revenues of $128.4-million, up 4 per cent compared to a year ago “driven by increased work volume” primarily in its robotics and space operations business.
The backlog as of March 31 was $1.5-billion, an increase of $652.5- million compared to the backlog as of Dec. 31, the company stated.
Adjusted EBITDA of $44.5-million compared to $39.1-million a year ago.
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Intertape Polymer Group Inc. (ITP-T) reported first-quarter revenue of US$406.4-million, up 17.6 per cent from a year ago, “primarily due to the impact of higher selling prices in tape, film, woven, and protective packaging products driven by increases in the cost of many raw materials and freight.” The expectation was for revenue of US$394.8-million for the latest quarter.
The company reported a net loss of US$56.7-million or 96 cents per share versus a net income of US$19.8-million or 32 US cents a year ago. Adjusted EPS of 48 US cents was the same as a year ago and ahead of expectations of 42 US cents per share.
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Copperleaf Technologies Inc. (CPLF-T) reported revenue of $15.6-million for the first quarter, which it said was an increase of 11 per cent over the same period last year, “driven by the increase in new clients and expansion of existing clients.”
Its net loss of $10.9-million or 16 cents per share, compared to a net loss of $1.8-million or 11 cents per share a year ago.
The expectation was for revenue of $16.3-million and a loss of 22 cents per share, according to S&P Capital IQ.
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American Hotel Income Properties REIT (HOT.UN-T) reported revenue for the first quarter increased by 32 per cent to US$61.8-million versus US$46.7-million a year ago “reflecting the ongoing recovery from lower demand in the prior year due to COVID-19.” The expectation was for revenue of US$59.3-million, according to S&P Captial IQ.
The company said its loss and comprehensive loss for the quarter was US$3.9-million, which was an improvement over the loss of US$14-million for the same period in 2021.
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DRI Healthcare Trust (DHT-UN-T) reported income of US$22.6-million up from US$12.7-million a year ago. The result was ahead of expectations of US$21.2-million for the latest quarter.
Net earnings of US$5.7-million or 15 US cents per unit compared to net earnings of US$3.2-million or 17 US cents per unit.
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Bonterra Energy Corp. (BNE-T) reported first-quarter revenue of US$91.5-million up from $48.8-million a year ago.
Net earnings of $10.5-million or 29 cents per share compared to a loss of $1.7-million or 5 cents a year ago.
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Converge Technology Solutions Corp. (CTS-T) reported that its net revenue increased 77 per cent in the first quarter to $550-million versus a year ago. The expectation was for revenue of $499.3-million in the latest quarter.
Its net loss was $2.4-million versus a profit of $3.7-million a year ago. Adjusted net income was $22.5-million or 10 cents per share versus adjusted net income of $12-million or 7 cents a year ago. The expectation was for adjusted EPS of 8 cents.
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Absolute Software Corp. (ABST-T) reported revenue for its third quarter ended March 31 was US$52-million, which it says represented 69-per-cent growth compared to the year-ago period. The result was in line with expectations of US$52.2-million.
Its net loss US$6.5-million or 13 US cents per share, compared to net income of US$2.2-million or 4 US cents a year ago. The expectation was for a loss of 9 US cents in the latest quarter.
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