ADF advanced to C$3.26, the highest intraday price since Feb. 13, and was up 3 percent at C$3.07 at 12:42 p.m. in Toronto.
Net income was C$7.7 million, or 23 Canadian cents per share, for the fiscal year ended Jan. 31, from a net loss of C$1.6 million, or 5 Canadian cents per share, in the previous year, the Terrebonne, Quebec-based company said in a statement today.
Annual revenue grew to $93 million, from $41.4 million a year earlier.
Two analysts on average were looking for earnings of 24 Canadian cents on revenue of C$90 million.
The company attributed the gains to contracts signed in Western Canada and Quebec.
ADF's order backlog stood at $36 million as of Jan. 31, 2014.
Gross margin improved by more than 10 percentage points to 21.7 percent from 11.4 percent.
The company said improving market conditions have increased the number and size of tenders, but prices remain weak.
The company didn't immediately provide fourth-quarter results.
ADF's board announced a semi-annual dividend of one Canadian cent per subordinate and multiple voting share payable on May 16, to shareholders of record as at April 30.
The company said its annual shareholders meeting will be held on June 11.
The shares, which have 2 "buy" recommendations from analysts, have more than doubled in the past 12 months, giving the company a market value of C$99.7 million.