Hartco Income Fund
Toronto symbol HCI.UN, provides computers and services to businesses.
HARTCO INCOME FUND $3.96 (Toronto symbol HCI.UN) is a thinly traded investment in the highly cyclical computer equipment industry. We feel it could have trouble maintaining distributions. Sell.
BOMBARDIER INC. $6.50 (Toronto symbol BBD.A) continues to win new orders for new aircraft, including a $334 million U.S. order for 10 new jets from U.S.-based Mesa Air Group Inc. That’s just a …read more »
HARTCO INCOME FUND $4.80 (Toronto symbol HCI.UN; Aggressive Growth Portfolio, Consumer sector; Units outstanding: 13.6 million; Market cap: $47.6 million; SI Rating: Extra risk) lost $0.05 a unit in the first quarter of 2007, mostly due to losses at its CompuSmart retail stores. It earned $0.03 a year earlier. Revenue fell 2.1%, to $151.6 million from $154.8 million.
Hartco now plans …read more »
SAPUTO INC. $45 (Toronto symbol SAP) has paid $12 million for a UK-based maker of mozzarella cheeses. This is a tiny purchase compared to Saputo’s $4.6 billion market value. But acquisitions like this give Saputo a low-risk way to expand to new markets. Best Buy.
FPI LTD. $15 (Toronto symbol FPL) has received permission from the Newfoundland government to try to …read more »
HART STORES INC. $5.35 (Toronto symbol HIS; Aggressive Growth Portfolio, Consumer sector; SI Rating: Speculative) has successfully expanded into Ontario, and now has 10 junior department stores there.
Thanks partly to these new stores, profits in its third fiscal quarter ended October 28, 2006 rose 6.7%, to $0.16 a share from $0.15 a year earlier. Sales grew 10.0%, to $45.0 million …read more »
HARTCO INCOME FUND $3.10 (Toronto symbol HCI.UN; SI Rating: Average) sells computers and consumer electronics, mainly through CompuSmart and MicroAge retail stores. The fund, formerly Hartco Corp., converted into an income trust last August, and changed its fiscal year end from January 31 to December 31.
In the three months ended December 31, 2005, Hartco lost $0.18 a unit on revenue …read more »
HART STORES INC. $4.25 (Toronto symbol HIS; SI Rating: Speculative) operates 71 mid-sized department stores, mainly in Quebec and Eastern Canada.
In the past year, Hart has opened eight new stores, including its five in Ontario. It prefers to focus on smaller urban centres that larger chains tend to avoid.
Thanks to this expansion, Hart’s revenue in the nine months ended October …read more »
