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TSX News: Tim Hortons, SXC Health Solutions, Cascades, Loblaw Companies, and more

23rd Feb 2012, 3:55 pm by Proactiveinvestors
TSX News: Tim Hortons, SXC Health Solutions, Cascades, Loblaw Companies, and more

Tim Hortons (TSE:THI)(NYSE:THI) said Thursday its fourth quarter profits fell nearly 73 percent as it recorded a massive gain a year ago on the sale of its interest in the Maidstone Bakeries brand.

For the three months ended January 1, the coffee and baked goods giant posted net earnings of $102.95 million, or $0.65 per share, down 72.7 percent from $377.12 million, or $2.19 per share, a year ago.

SXC Health Solutions (TSE:SXC)(NASDAQ:SXCI) released its full year fiscal 2012 forecast on Thursday, beating analysts' estimates, as its fourth quarter set a solid base for the upcoming year.

Looking forward, the provider of pharmacy benefit management (PBM) and technology services said it anticipates adjusted earnings between $2.37 and $2.45 per share for the full year 2012. Revenues are expected in the range of $6.8 billion to $6.9 billion.

Cascades (TSE:CAS) reported Thursday it swung to a fourth quarter profit, but excluding gains related to acquisitions and other items, the company posted an adjusted loss, missing Street estimates on softer demand and higher input costs.

For the three months that ended December 31, the paper products maker posted net income of $5 million, or $0.05 per share, up from a $12 million loss, or $0.12 loss per share, a year ago.

Loblaw Companies (TSE:L) said Thursday fourth quarter sales rose amid gains at both its retail and financial units, but also warned that full-year 2012 profits will be lower as it makes improvements to its supply chain.

For the quarter that ended December 31, the company reported revenues grew 3.6 percent to $7.37 billion, beating analysts’ targets for sales of $7.2 billion.

Net income also jumped to $175 million, or 62 cents a share, compared to a prior-year profit of $165 million, or 59 cents a share.

Alamos Gold (TSE:AGI) said Thursday its fourth quarter profits rose by over 35 percent, on stronger gold prices and higher production at its projects in Mexico and Turkey.

For the three months that ended December 31, the gold producer posted net income of $21.7 million, or $0.18 per share, up 36.3 percent from $15.9 million, or $0.16 per share, a year ago.

Stantec  (TSE:STN) said Thursday that fourth-quarter earnings grew 4.3 percent excluding items, thanks to organic revenue growth and acquisitions.

For the quarter that ended December 31, net income increased to $24.3 million from $23.3 million last year. Excluding items, earnings per share were up 3.9 percent to $0.53 from $0.51.

Specialty package maker CCL Industries (TSE:CCL.B) said Thursday that fourth-quarter profit rose 38 percent, helped by growth in its label and tube segments.

For the three months that ended December 31, net earnings rose to $18.4 million, or 54 cents per share, from $13.3 million, or 40 cents per share, last year. Sales rose 13 percent to $317.3 million.

Capital markets firm Ambrian Partners maintained its "buy" rating on Mandalay Resources (TSE:MND), as the miner announced Thursday that its exploration efforts last year resulted in significant increases to reserves and resources, with silver reserves doubling and gold reserves rising 85 percent.

Ambrian also put a C$1.05 price target on Mandalay, up from its current trading price of 78 cents.

Canadian home improvement retailer Rona (TSE:RON) Thursday posted a loss of more than $151 million in the fourth quarter as the company took restructuring charges to reflect weak markets and a plan to refocus the company.

The Montreal-based company said the loss compared with a profit of about $20 million a year earlier.

Pan American Silver (TSE:PAA)(NASDAQ:PAAS) Thursday posted a fourth-quarter net profit, helped by higher metal prices, as it raised its quarterly dividend by 50 percent.

For the fourth quarter, net income was $95.5 million, or 89 cents a share, compared with a net loss of $5.8 million, or 12 cents a share, a year ago.

Construction equipment supplier Toromont Industries (TSE:TIH) posted Thursday better-than-expected fourth-quarter sales and earnings that topped analysts’ estimates.

For the quarter that ended December 31, the company said sales rose 19 percent to $408.4 million up from $342.9 million last year. Net earnings also jumped 22 percent to $34.2 million, or 44 cents a share, compared to a year-prior profit of $28 million, or 36 cents a share.

Canadian IT company Hartco (TSE:HCI) said Thursday that fourth quarter profits and sales declined sharply, citing lower-than-expected revenues and gross margins in its commerical segment.

For the three months that ended December 31, 2011, the company posted net income of $0.5 million, or $0.03 per diluted share, compared to net earnings of $4.0 million, or $0.29 per diluted share, a year earlier. Revenues declined to $107.2 million from $118.6 million a year ago.

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