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Cargojet Q1 revenue up 38.5 per cent but EBITDA slides 9.8 per cent

May 13, 2008 - 8:52 am

MISSISSAUGA, Ont. - Cargojet Income Fund (TSX:CJT.UN) saw its first-quarter revenue grow by 38.5 per cent but earnings before interest, taxes, depreciation and amortization dropped 9.8 per cent as costs surged.

The overnight air freight carrier reported Tuesday that January-March revenues ...

Arctic Glacier losses deepen to $12.5M as sales slide eight per cent

May 13, 2008 - 8:51 am

WINNIPEG - Arctic Glacier Income Fund (TSX:AG.UN) said Tuesday that its first-quarter net losses deepened to $12.5 million as sales dropped by eight per cent.

The company, which supplies packaged ice and bottled water, said the loss was equal to 32 cents per unit, compared to a loss of ...

Mining industry hungry for growth despite credit crunch: study

May 13, 2008 - 8:49 am

TORONTO - Nearly half of the large mining companies interviewed for a recent study by Ernst and Young said they need to make acquisitions to meet their aggressive growth targets and 90 per cent said they expected to make an acquisition in the next two years.

The study, published Tuesday, ...

Commodity stocks knock TSX from record high perch;NY lower despite sales data

May 13, 2008 - 8:46 am

TORONTO - Weakness in energy and metals stocks sent the Toronto stock market lower late Tuesday morning, just a day after the TSX beat its old closing high from July of last year.

New York markets were also lower despite April retail sales which came in better than expected, as Wal-Mart ...

MDA lands US$21M Boeing contract for International Space Station equipment

May 13, 2008 - 8:45 am

VANCOUVER - MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Tuesday its Montreal operation has won a US$21-million contract from the Boeing Co. to supply communication technology for the International Space Station.

MDA said it will provide two spare sets of communication ...

Fed chairman Bernanke: Financial turmoil in markets easing

May 13, 2008 - 8:23 am

WASHINGTON - Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," U.S. Federal Reserve chairman Ben Bernanke said Tuesday.

The central bank has taken a number of unconventional steps - especially since March, when the credit crisis intensified - to ...

U.S. retail sales dip for second time in two months, down 0.2 per cent

May 13, 2008 - 8:22 am

WASHINGTON - American consumers, battling soaring gasoline prices and a slumping economy, cut back further on their spending in April.

The U.S. Commerce Department reported Tuesday that retail sales dipped 0.2 per cent last month, right in line with economists' expectations.

It was ...

Bombardier sells 14 new units to Vancouver's SkyTrain system

May 13, 2008 - 8:19 am

BERLIN - Bombardier Transportation has announced the sale of 14 more vehicles to Vancouver's SkyTrain transit network.

The Berlin-based railway equipment division of Bombardier Inc. (TSX:BBD.B) said Tuesday the Vancouver order - exercising an option linked to a 34-vehicle contract signed ...

Iamgold earnings rise to US$34.4 million from US$11.3 million a year ago

May 13, 2008 - 7:45 am

TORONTO - Iamgold Corp.'s (TSX:IMG) first-quarter earnings almost tripled to US$34.4 million from US$11.3 million a year ago, boosted by high gold prices and asset sales.

The Toronto-based miner, reporting in U.S. dollars, said Tuesday that revenues rose 42 per cent to $208 million from ...

Quadra Mining Q1 profit rises to $79.8M from $43.1M on strong metal prices

May 13, 2008 - 7:42 am

VANCOUVER - Quadra Mining Ltd. (TSX:QUA) has posted first-quarter earnings of US$79.8 million, up from $43.1 million a year ago on strong revenues boosted by high metal prices.

Quadra, based in Vancouver but active in the United States and reporting in U.S. dollars, said revenues were $198 ...

Sino-Forest Q1 net up 26 per cent to US$7.4M; revenue grows 21 per cent to $136M

May 13, 2008 - 7:40 am

TORONTO - Sino-Forest Corp. (TSX:TRE) has reported a 43 per cent gain in operating income to $35 million, but $7.4 million in foreign exchange and investment losses held net income down to a 26 per cent increase to $7.4 million.

The operator of Chinese forest plantations, which reports in ...

Rona Q1 earnings hammered down to $1M; same-store sales down 5.2 per cent

May 13, 2008 - 6:39 am

MONTREAL - Rona Inc. (TSX:RON) has reported a 5.2 per cent decline in same-store sales in the first quarter and an 18 per cent drop in operating profit.

Net earnings declined to $1 million or one cent per share, compared with $9 million or eight cents per share in the year-ago ...

DundeeWealth reports Q1 loss of $49.7M after $75.9M writedown of ABCP

May 13, 2008 - 6:38 am

TORONTO - DundeeWealth Inc. (TSX:DW) has reported a $49.7-million first-quarter net loss after another steep writedown of asset-backed commercial paper.

The financial services company said its loss amounted to 35 cents per share and compared with a profit of $7.9 million, seven cents per ...

Cameco Q1 profit surges 125 per cent to $133M on higher prices, volumes

May 13, 2008 - 6:37 am

SASKATOON - Cameco Corp. (TSX:CCO) has reported first-quarter earnings of $133 million, up by 125 per cent from a year ago as revenue increased 45 per cent to $593 million on higher prices for uranium and gold and an increase in uranium volumes.

Cameco said Tuesday that its net income of ...

Ford celebrates Model T's 100th with challenge to create new vehicle

May 13, 2008 - 6:01 am

DEARBORN, Michigan - Ford Motor Co. is celebrating the 100th anniversary of its Model T with a challenge.

The automaker is asking five universities to create a vehicle that shares what Ford says are attributes of the Model T: simple, lightweight, practical and compelling.

Ford says ...

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