Thursday, March 11, 2010

03:51 pm EST - Response Biomedical Corp. : reported a narrower net loss of $9.54 million or $0.04 per share compared with $13.66 million or $0.10 per share a year ago. The company recorded total revenues of $9.95 million, an increase of 69% compared with $5.88 million in 2008. Clinical products revenue for the year ended December 31, 2009 grew 85% to $6.83 million from $3.68 million in 2008. Response Biomedical Corp. (T.RBM) shares were down $0.01 at $0.16.

03:50 pm EST - Sprott Inc. : said its fourth-quarter net income was $13.3 million or $0.09 per share compared with $20.4 million or $0.14 per share in the prior-year period. For the fourth quarter of 2009, total revenue was $35.7 million compared with $57.7 million in the prior-year period. Full-year net income slipped to $31.83 million or $0.21 per share from $52.14 million or $0.36 per share last year. Total revenue for the year ended December 31, 2009 decreased by 35.1% to $107.52 million from $165.76 million in 2008. Sprott Inc. (T.SII) shares were up $0.14 at $4.40.

03:48 pm EST - Norsat International Inc. : said its fourth-quarter 2009 net earnings remained unchanged at $1.3 million U.S. or $0.02 U.S. per share. Revenue for the fourth quarter of 2009 totaled $6.3 million U.S., flat with last year. Norsat International Inc. (T.NII) shares were down $0.02 at $0.82.

03:47 pm EST - Baytex Energy Trust : reported fourth-quarter net income of $27.96 million or $0.25 per unit, compared to $52.4 million or $0.53 per unit last year. Funds from operations rose to $97.34 million or $0.87 per unit from $60.47 million or $0.61 per unit in the same quarter a year earlier. Petroleum and natural gas sales grew to $237.98 million from $199.9 million in the year-ago quarter. Baytex Energy Trust (T.BTE.UN) shares were up $0.16 at $34.40.

03:45 pm EST - Exchange Income Corp. : reported net income for the fourth quarter of $3.7 million, compared to a loss of $3.0 million in the year-ago quarter. Adjusted net income for the quarter was $4.1 million or $0.36 per share, compared to $2.6 million or $0.42 per share in the same quarter last year. Revenues for the quarter increased 42% to $58.0 million from $40.8 million in the prior-year quarter. Exchange Income Corp. (T.EIF) shares were up $0.10 at $14.00.

03:44 pm EST - Vector Aerospace Corp. : reported net earnings of $6.2 million or $0.14 per share for the fourth quarter, compared to $5.6 million or $0.15 per share in the prior-year quarter. Revenue for the quarter declined to $137.7 million from $141.4 million in the year-ago quarter. Vector Aerospace Corp. (T.RNO) shares were down $0.10 at $6.20.

11:56 am EST - IMAX Corp. : reported fourth-quarter net earnings of $4.04 million U.S. or $0.06 U.S. per share, compared to net loss of $9.04 million U.S. or $0.21 U.S. per share last year. Adjusted net earnings were $12.89 million U.S. or $0.20 U.S. per share, compared to adjusted net loss of $9.71 million U.S. or $0.22 U.S. per share in the prior-year quarter. Revenues rose to $54.24 million U.S. from $27.42 million U.S. in the same quarter a year earlier. IMAX Corp. (T.IMX) shares were up $0.93 at $17.32.

11:54 am EST - TransGlobe Energy Corp. : reported that its fourth-quarter net income was $2.52 million U.S. or $0.04 U.S. per share, compared to $7.64 million U.S. or $0.13 U.S. per share in the same quarter last year. Funds flow from operations was $9.70 million U.S. or $0.15 U.S. per share, up from $6.13 million U.S. or $0.10 U.S. per share in the year-ago quarter. Revenues for the quarter were $28.13 million U.S., down from $30.25 million U.S. in the prior-year quarter. TransGlobe Energy Corp. (T.TGL) shares were down $0.34 at $4.35.

11:53 am EST - Spectral Diagnostics Inc. : reports its fourth-quarter loss widened to $1.23 million or $0.05 per share from $300,000 or $0.01 per share for the corresponding period in 2008. For the three months ended December 31, 2009, Spectral reported sales of $850,000 compared with $861,000 for the corresponding period in 2008. Spectral Diagnostics Inc. (T.SDI) shares were down $0.02 at $0.60.

11:52 am EST - Galleon Energy Inc. : noted that, after a review of the extensive depth of its 1,000 well prospect inventory, the spending required to advance these projects and its cost of capital, among other matters, its board has initiated a process to identify and consider strategic alternatives with a view to enhancing shareholder value. Moreover, the company reported a full-year loss of $0.43 compared with a profit of $1.10 in the previous year. Revenue for the full year 2009 dropped to $177.05 million from $366.82 million last year. Galleon Energy Inc. (T.GO) shares were down $0.65 at $7.58.

09:55 am EST - Transat A.T. Inc. : reported first-quarter net loss of $13.87 million or $0.37 per share, compared to net loss of $29.44 million or $0.90 per share last year. Before non-cash and non-operating items, Transat's adjusted after-tax loss stood at $18.2 million or $0.48 per share, compared to adjusted after-tax loss of $11.8 million or $0.36 per share for the first quarter of 2009. Revenues declined to $792.56 million from $877.25 million in the same quarter a year earlier. Transat A.T. Inc. (T.TRZ.A) shares were down $4.17 at $15.35.

09:53 am EST - Gabriel Resources : reported fourth-quarter loss of $10.73 million or $0.03 per share, compared to loss of $3.96 million or $0.02 per share last year. Loss for the fourth quarter 2009 increased from the same period in 2008 mainly due to increase in operating costs of $2.7 million and a swing of $11.4 million in foreign currency movement. Total operating expenses grew to $7.86 million from $5.15 million in the same quarter a year earlier. Gabriel Resources (T.GBU) shares were down $0.14 at $4.40.

09:52 am EST - Bank of Nova Scotia : which owns 49% of Thanachart Bank, said Thanachart Bank had confirmed that it has reached an agreement to acquire almost 48% of Thailand's Siam City Bank, subject to regulatory approvals in Thailand. The stake in Siam City Bank is now owned by Thailand's Central Bank through the Financial Institutions Development Fund or FIDF. Scotiabank said it would continue to own 49% of the merged bank, to be known as Thanachart Bank with Thanachart Capital Pcl owning almost all of the remaining 51%. Bank of Nova Scotia (T.BNS) shares were down $0.36 at $48.76.

09:51 am EST - Xceed Mortgage Corp. : recorded a net loss for the 2010 first quarter of $11.82 million compared with an income of $3.34 million in the 2009 period. Loss per share for the latest quarter was $0.42 versus a profit of $0.12 in the year-ago quarter. Retained earnings, end of period amounted to $9.08 million compared with $27.58 million last year. Xceed Mortgage Corp. (T.XMC) shares were down $0.15 at $1.70.