dividends paid
FIRSTSERVICE CORP. $28.40 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 30.5 million; Market cap: $866.2 million; No dividends paid) serves the following areas of the real estate market: commercial real estate, residential property management, and property improvement. FirstService has more than 20,000 employees worldwide.
FirstService’s revenue rose 10.4% in the three months ended September 30, 2011, to $585.4 million from $530.5 million a year earlier (all figures except share price in U.S. dollars). Excluding one-time items, earnings per share were unchanged at $0.61. Cash flow rose 22.6%, to $1.03 a share from $0.84.
Revenue increased at two of FirstService’s three divisions: commercial real estate (up 14%) and residential property management (up 15%).
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FirstService’s revenue rose 10.4% in the three months ended September 30, 2011, to $585.4 million from $530.5 million a year earlier (all figures except share price in U.S. dollars). Excluding one-time items, earnings per share were unchanged at $0.61. Cash flow rose 22.6%, to $1.03 a share from $0.84.
Revenue increased at two of FirstService’s three divisions: commercial real estate (up 14%) and residential property management (up 15%).
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ACI WORLDWIDE $29.96 (Nasdaq symbol ACIW; TSINetwork Rating: Speculative) (402-334-5101; www.tsainc.com; Shares outstanding: 34.3 million; Market cap: $1.0 billion; No dividends paid) makes software that is used to process transactions involving credit cards, debit cards, automated teller machines, point-of-sale terminals and interbank payments.
ACI recently bought S1 Corp. for $540 million in cash and stock. This acquisition looks like a good fit: S1 sells transaction software for banks, credit unions, retailers and other processors. It has over 3,000 clients worldwide.
In the three months ended September 30, 2011, ACI’s revenue rose 15.6%, to $112.1 million from $97.0 million a year earlier. Earnings rose sharply, to $10.5 million, or $0.31 a share, from $2.3 million, or $0.07 a share. The company holds cash of $170.8 million, or $4.98 a share.
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ACI recently bought S1 Corp. for $540 million in cash and stock. This acquisition looks like a good fit: S1 sells transaction software for banks, credit unions, retailers and other processors. It has over 3,000 clients worldwide.
In the three months ended September 30, 2011, ACI’s revenue rose 15.6%, to $112.1 million from $97.0 million a year earlier. Earnings rose sharply, to $10.5 million, or $0.31 a share, from $2.3 million, or $0.07 a share. The company holds cash of $170.8 million, or $4.98 a share.
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SYMANTEC CORP. $16.55 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 751.0 million; Market cap: $12.4 billion; No dividends paid) makes computer-security software, including the popular Norton antivirus program. It also sells products and services for email filtering, data backup and other business-related uses. In addition, Symantec offers data-archiving software that helps its clients meet increasingly strict regulatory and compliance standards.
In the three months ended September 30, 2011, Symantec’s earnings rose 33.8%, to $182 million from $136 million a year earlier. Earnings per share jumped 41.2%, to $0.24 from $0.17, on fewer shares outstanding. If you exclude unusual items, mainly asset writedowns and restructuring costs, earnings per share would have risen 14.7%, to $0.39 from $0.34. That matched the consensus earnings estimate.
Sales rose 13.6%, to $1.7 billion from $1.5 billion. The company gets 52% of its sales from overseas. If you disregard the positive impact of exchange rates, sales would have risen 9% in the latest quarter.
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In the three months ended September 30, 2011, Symantec’s earnings rose 33.8%, to $182 million from $136 million a year earlier. Earnings per share jumped 41.2%, to $0.24 from $0.17, on fewer shares outstanding. If you exclude unusual items, mainly asset writedowns and restructuring costs, earnings per share would have risen 14.7%, to $0.39 from $0.34. That matched the consensus earnings estimate.
Sales rose 13.6%, to $1.7 billion from $1.5 billion. The company gets 52% of its sales from overseas. If you disregard the positive impact of exchange rates, sales would have risen 9% in the latest quarter.
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THE WESTAIM CORP. $0.53 (Toronto symbol WED, Aggressive Growth Portfolio, Finance sector; Shares outstanding: 581.2 million; Market cap: $308.0 million; Price-to-sales ratio: 0.9; No dividends paid; TSINetwork Rating: Speculative; www.westaim.com) owns Jevco Insurance Co., which sells insurance to high-risk drivers and owners of motorcycles and recreational vehicles.
Westaim earned $11.3 million, or $0.02 a share, in the third quarter of 2011. That’s down 48.5% from $22.0 million, or $0.03 a share, a year earlier. The year-earlier quarter benefited from an unusual tax gain. Premium revenue rose 5.5%, to $88.3 million from $83.6 million. However, Jevco’s focus on high-risk drivers adds risk.
Westaim is a hold, but only for highly aggressive investors.
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Westaim earned $11.3 million, or $0.02 a share, in the third quarter of 2011. That’s down 48.5% from $22.0 million, or $0.03 a share, a year earlier. The year-earlier quarter benefited from an unusual tax gain. Premium revenue rose 5.5%, to $88.3 million from $83.6 million. However, Jevco’s focus on high-risk drivers adds risk.
Westaim is a hold, but only for highly aggressive investors.
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PRECISION DRILLING CORP. $11 (Toronto symbol PD; Aggressive Growth Portfolio, Resource sector; Shares outstanding: 276.1 million; Market cap: $3.0 billion; Price-to-sales ratio: 1.7; No dividends paid since February 2009; TSINetwork Rating: Extra Risk; www.precisiondrilling.com) provides contract-drilling services to land-based oil and gas producers in Canada, the U.S. and Mexico.
The company continues to see strong demand for its Super Series horizontal-drilling rigs. Horizontal drilling involves drilling development wells sideways or at an angle to reach isolated pockets of oil or gas. Horizontal drilling works well in situations where conventional drilling is either impossible or too expensive.
Precision is now building 49 Super Series rigs, up from its earlier plan to build 30. It will also decommission 49 of its older rigs. Retiring the older rigs will cost Precision between $100 million and $120 million.
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The company continues to see strong demand for its Super Series horizontal-drilling rigs. Horizontal drilling involves drilling development wells sideways or at an angle to reach isolated pockets of oil or gas. Horizontal drilling works well in situations where conventional drilling is either impossible or too expensive.
Precision is now building 49 Super Series rigs, up from its earlier plan to build 30. It will also decommission 49 of its older rigs. Retiring the older rigs will cost Precision between $100 million and $120 million.
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EBAY INC. $30 (Nasdaq symbol EBAY; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 1.3 billion; Market cap: $39.0 billion; Price-to-sales ratio: 3.6; No dividends paid; TSINetwork Rating: Above Average; www.ebay.com) operates the world’s largest online auction website, with over 99 million users in 39 countries. The company charges users fees to list and sell their goods through its websites. The company also operates several other websites, including StubHub (live event ticket sales), Shopping.com (comparison shopping) and Rent.com (apartment and house rentals). In all, these websites account for 55% of eBay’s overall revenue. The company gets a further 35% of its revenue by processing online financial transactions, mostly through its PayPal subsidiary....
EBAY INC. $30 (Nasdaq symbol EBAY; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 1.3 billion; Market cap: $39.0 billion; Price-to-sales ratio: 3.6; No dividends paid; TSINetwork Rating: Above Average; www.ebay.com) operates the world’s largest online auction website, with over 99 million users in 39 countries. The company charges users fees to list and sell their goods through its websites.
The company also operates several other websites, including StubHub (live event ticket sales), Shopping.com (comparison shopping) and Rent.com (apartment and house rentals).
In all, these websites account for 55% of eBay’s overall revenue. The company gets a further 35% of its revenue by processing online financial transactions, mostly through its PayPal subsidiary.
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The company also operates several other websites, including StubHub (live event ticket sales), Shopping.com (comparison shopping) and Rent.com (apartment and house rentals).
In all, these websites account for 55% of eBay’s overall revenue. The company gets a further 35% of its revenue by processing online financial transactions, mostly through its PayPal subsidiary.
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MART RESOURCES $0.76 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403-270-1841; www.martresources.com; Shares outstanding: 340.3 million; Market cap: $258.6 million; No dividends paid) trades at a low multiple to cash flow. That reflects investor concern about unstable Nigeria. Right now, Mart is producing oil from its 50%-held Umusadege field in southern Nigeria. In the three months ended September 30, 2011, Mart’s revenue jumped 237.2%, to $46.8 million from $13.9 million a year earlier. Cash flow per share rose sharply, to $0.125 from $0.028. Mart’s production rose 126.5%, to 446,981 barrels, and oil prices rose....
YAMANA GOLD $14.52 (Toronto symbol YRI; TSINetwork Rating: Speculative) (416-815-0220; www.yamana.com; Shares outstanding: 746.2 million; Market cap: $10.8 billion; Dividend yield: 1.3%) owns seven operating gold mines in Mexico, Brazil, Chile and Argentina. It also holds a 12.5% stake in the Alumbrera copper/gold mine in Argentina, and has three other properties in advanced stages of development. In the three months ended September 30, 2011, Yamana’s revenue rose 22.3%, to $555.2 million from $454.0 million a year earlier (all figures except share price and market cap in U.S. dollars). Cash flow per share rose 57.1%, to $0.44 from $0.28. The company raised its production by 4.4% during the quarter, to 279,274 ounces of gold from 267,409 a year earlier. As well, record-high gold prices pushed up Yamana’s selling price for gold by 37.4%....
BIRCHCLIFF ENERGY $13.24 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Units outstanding: 131.4 million; Market cap: $1.7 billion; No dividends paid) develops, produces and explores for oil and natural gas, mainly in the Peace River Arch area near the Alberta/B.C. border. About 75% of Birchcliff’s production is natural gas. The remaining 25% is oil. In the three months ended September 30, 2011, Birchcliff’s production jumped 34.6%, to 17,648 barrels of oil equivalent per day (including natural gas) from 13,109 barrels a year earlier. Cash flow per share rose 50.0%, to $0.27 from $0.18. The production increase and higher oil prices were the main reasons for the gain....