Small cap results digest: Public Safety Products (V.PSP) not so safe, Lachlan Star (T.LSA) shoots fo

Gaalen Engen Gaalen Engen,
0 Comments| October 28, 2013

Pacific Safety Products (V.PSP, StockForum) revealed fourth quarter and year-end results with a quarterly net loss of $0.02 million, an almost complete reversal from the matching quarter in 2012. Yearly revenues were down with $11.7 million coming through the door. Unfortunately gross margin also decreased 4% to 24.8%. However expenses were down $1.6 million or 31.5% from last year.


Lachlan Star (T.LSA, StockForum) opens books on the quarter to show 70% increase in gross operating profit at CMD gold mine resulting in US$6.5 million for the quarter. Cash cost reduced 28% falling to US$821 per ounce. Gold production increased by 6% since last quarter totaling 17,056 ounces. Gold stacked also increased 8% from last quarter rising to 23,355 ounces. The company now holds $8 million in private placement.


Thermal Energy International (V.TMG, StockForum) announced first quarter results with revenue and gross profit jumping 76.5% and 84.8% respectively for the matching quarter in 2012. Received orders for heat recovery and GEM from pulp and paper mills totaling $3.7 million. Awarded $0.8 million in heat recovery and GEM from a major hospital and also received $0.5 million in GEM ordering from major multi-national food company.


MainStreet Bank (OTCQB:MNSB, StockForum) celebrates profitable third quarter results with $606,000 year-to-date income and a climbing book value of $9.73 as of September 30, 2013. Closing share price on that date was $7.90 – a staggering 75% up from last year's numbers. Total assets sit at $271.5 million with gross loans at $219.6 million and total deposits at $245 million. 

MDC Partners (T.MDZ.A, StockForum) reveals third quarter results with increased EBITDA guidance implying year over year growth +31.5% to +33.2%. Revenue climbed 8.7% to $289 million with organic revenue totaling 9.3%. Free cash flow rose 33.1% to $23.9 million while net new business wins came to #32.4 million. Year-to-date figures peg revenue at $842.5 million – a 9.6% increase over last year.


Brownstone Energy (V.BWN, StockForum) reports year-end results with cash and cash equivalents of $9.6 million – almost 48% lower than 2012. Investments also dropped 41.3% to $1.7 million. Exploration and evaluation assets took the biggest hit with a 61.7% drop to $17.3 million. Brownstone also spent 34.6% less on exploration and evaluation, totaling approximately $10 million.


Pinnacle Bank (PBNK, StockForum) announces third quarter results with total assets increasing 16% to $188.6 million. Loans increased 6% or $8.5 million totaling $141.3 million. Non-interest deposits increased 50% to $54.9 million and total deposits came in at $168.4 million or a 17% bounce.

Community Bank of the Bay (OTCBB:CBYAA, StockForum) releases record third quarter results with a net income of $381,000 for the quarter, garnering $0.09 in share earnings. Total assets rose to $173.3 million outstripping last year's performance of $148.6 million. Deposits increased $2.4 million to $150.5 million. Loans also grew 29.7% or $29.5 million.


Sinopec Shanghai Petrochemical Company (SHI, StockForum) reports third quarter results with revenue totaling RMB86.356 billion, up substantially from 2012's figure of RMB69.153 billion. Net profit attributable to shareholders dropped to RMB1.004 billion from RMB1.609 billion in 2012. Basic earnings per share were also down to RMB0.139 from RMB0.224 last year.


Texas Roadhouse (TXRH, StockForum) puts out third quarter results with diluted share earnings decreasing 4.6% to $0.24 from $0.25 in 2012. Comparable restaurant sales climbed 2.6% at company locations and 4.0% at franchise establishments. Cost of sales, in relation to restaurant sales, jumped 150 basis points to 17.2% due to 8% food cost inflation. Restaurant margin, using the same relationship, dropped 75 basis points.

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