09:01 PM EDT, 08/14/2024 (MT Newswires) -- Africa Oil ( AOIFF ) (AOI.TO and Nasdaq-Stockholm: AOI) reported second quarter net income per share basic of US$0.00 compared to $0.23 a year earlier.

Africa Oil ( AOIFF ) President and CEO, Roger Tucker, said: "It was an incredibly busy first half of the year as we signed three strategic transactions, taking Africa Oil ( AOIFF ) towards the next phase of value creation and shareholder returns. We have high-quality development projects, high-impact exploration and appraisal catalysts that will all be funded on completion of these deals. The quality of our organic growth opportunity set is demonstrated by the size and calibre of our partners.

"The Prime consolidation once closed, will see the roll-out of a new transparent capital allocation framework and will create scope for a significantly enlarged capital returns program for our shareholders. Africa Oil ( AOIFF ) stands with a differentiated investment case of offering sustainable shareholder returns, significant organic growth opportunities, and is well-positioned to pursue new opportunities on the back of a strong balance sheet."

Meanwhile, Cargojet ( CGJTF ) declared a cash dividend of $0.35 per common voting share and variable voting share for the period from July 1, 2024 to September 30, 2024, an increase of $0.0354 or 11.25% per share from the previous quarter.

Elsewhere, Exro Technologies Inc. ( EXROF ) , a clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, reported record quarterly revenue of C$5.3 million with C$6.7 million at quarter end in completed units. On 'Path to Profitability', it said the initial target of US$10 million is on track for 2024, with US$7.5 million annualized savings realized to date from headcount restructure, facilities, and operational efficiencies.

Intermap Technologies ( ITMSF ) , a global player in 3D geospatial products and intelligence solutions, announced 125% revenue growth in the second quarter of 2024. For the period ending June 30, 2024, the company reported revenue of US$3.6 million versus $1.6 million for the second quarter of 2023. It also posted $0.9 million of EBITDA, $0.6 million of operating income and $0.6 million of net income. It noted its airborne platform commenced data collection for the Indonesian mapping program. And it affirmed 2024 revenue projections of $16-18 million, adjusted EBITDA margin of near 25%.

Also Karnalyte Resources Inc. ( KRLTF ) reported Q2 basic and diluted loss per share of C$0.01. It also announced the appointment of Danielle Favreau as permanent Chief Executive Officer and Christie Gradin as permanent Chief Financial Officer.

In 2024, the company's plans are as follows: Complete the update to its NI 43-101 technical report; Continue to work on identifying cost efficiencies, optimizing construction and operation plans, maximizing the plant layout and enhancing project sustainability; and continue business development activities to seek out and attract investment and strategic partners to move the company's projects forward to development.

And Northland Power Inc. ( NPIFF ) said net income for the second quarter increased to $262 million from $22 million in 2023. Sales increased to $529 million from $472 million.

Adjusted EBITDA (a non-IFRS measure) increased to $268 million from $232 million. Free Cash Flow per share (a non-IFRS measure) increased to $0.20 from $0.16. Adjusted Free Cash Flow per share (a non-IFRS measure) increased to $0.27 from $0.25.

"Northland's strong performance in the second quarter has contributed to solid results for the first half of 2024, largely driven by high wind resource at our offshore wind facilities," said John Brace, Northland's Executive Chair. "We also continue to make progress on the construction of our two offshore wind projects in Taiwan and Poland, and our energy storage project in Canada. The execution of these three projects remains our top priority as we focus on their safe and successful delivery. At the same time, we remain active in pursuing various development opportunities in core markets across our 9GW development pipeline. We are also happy to report we completed the sale of our interest in the La Lucha Solar Facility in Mexico."

For its part, Quipt Home Medical Corp. ( QIPT ) , a U.S.-based home medical equipment provider, focused on end-to-end respiratory care reported net loss for Q3 2024 was US$1.7 million, or ($0.04) per diluted share, versus $(1.0) million, or $(0.03) per diluted share for the same period in 2023. Revenue for Q3 2024 was $64.0 million compared to $60.3 million for Q3 2023, representing a 6.1% increase in revenue year-over-year. Organic growth contributed approximately $1.7 million, or 3% year-over-year.

"Our focus on driving long-term organic growth, through our growing sales force, cross-selling of product categories and driving market penetration in continuum markets, positions us well for opportunities. With our disciplined approach to capital management, we are well-positioned to capitalize on synergistic acquisition opportunities and enhance our go-to-market strategy. Our performance demonstrates our ability to navigate the challenges faced in the first half of the year and leverage our strengths to deliver consistent results. As we move forward, we remain committed to investing in areas that drive sustainable growth and reinforce our market leadership focused on clinical respiratory care within the durable medical equipment ecosystem. Our operations are structured to allow us to effectively add revenue without the need to materially increase our cost structure which will be key in driving margin improvement as we execute on our strategy for expansion, and we are very confident in our ability to drive future growth." said CFO Hardik Mehta.