Imaflex Inc. (CVE:IFX), a packaging stock, popped after announcing record Q1 revenue while also swinging to a profit
Sean Mason | May 25, 2017 | SmallCapPower
Record revenue and profitability was a gift to investors in a packaging stock Thursday. Here’s some small stocks making big moves on Thursday, May 25, 2017 (as of 4 pm EST):
Imaflex Inc. (TSXV: IFX), a packaging stock, jumped 27% to $0.85 on Thursday after announcing a 14% increase in its first-quarter revenue to a record $22.1 million, while swinging to net income of $1.1 million from a $0.2 million loss during the first quarter of 2016.
As well, shares of Medicure Inc. (TSXV: MPH) fell 11% to $6.50 as the specialty pharmaceutical company said it swung to a first-quarter net loss of $5.1 million, compared to net income of $792,000 during the same period last. Revenue for the quarter, though, rose 43% to $8.7 million.
Tembec Inc. (TSX: TMB), meanwhile, reported that it has agreed to be acquired by Rayonier Advanced Materials Inc. for a purchase price of approximately US$807 million, including the assumption of US$487 million of debt net of cash. Tembec shareholders are entitled to receive either C$4.05 in cash or 0.2302 of a Rayonier Advanced Materials common share for each Tembec share held. Tembec stock popped 41% to $4.17 following the announcement.
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