Investment Q&A

Q: Enghouse's recent announcement of the new "President", has him starting immediately, without any explanation as to a departing "President". Is it correct to assume there was no prior President of the Company, and in the past the CEO and President role were both held by Stephen Sadler, or is this a vacancy that is getting filled? Why would there not be a better explanation in the press release, this could be construed as a negative?

Q: Sylogist just released its quarterly earnings this morning. Would appreciate your comments. Any concerns with slightly lower revenue ? Thanks

Q: Preliminary financial results announced today. Any surprises or insights? If others are in the process of asking similar question...don't waste your time on answering my email too.

Cheers, Stephen S

Q: Seems like a barrage of questions on Cineplex, in a week, but will ask, anyway. What is its current/ forward PE and is the present valuation justified (even after the steep decline) ? Do you expect Cineplex to continue to generate strong cash flow to pay down its very high debt load ( $600 mln ? ) and support 4.5 - 5% dividend ? How are the results of Cineplex capital investments in new initiatives like Rec rooms and VIP Cinemas ? Cineplex was removed/sold from 5iPortfolios, last year, in what looks like a smart move. But added back to Income portfolio, after some time, at a much lower price ($36.50, I think). With the recent drop in price, do you still have conviction that it's a good income stock to own and would you add ? Also, any change to A- Rating, with all recent developments and outlook ? Thanks

Q: Constellation Software announced this morning of a nice acquisition of Acceo Solutions for a price of $250 mln.
Q1: Seems like a good size acquisition, after some time. With annual proforma revenue of $116 mln, how significant is this transaction ?
Q2 : What is your understanding of the proposed financing ?
" Constellation expects to finance the Acceo acquisition on a stand-alone basis. This is a continuation of Constellation’s use of leveraged capital structures to compete more effectively for larger vertical market software businesses. "
Thanks

Q: Hello Peter. What do you think about the $250M deal that CSU announced this morning, and what do you think it will do for CSU's outlook and share price going forward in the near/mid-term?

Thanks,

Q: I have a question about A&W Revenue Royalties. The early warning report dated Jan 05 seems to boil down to A&W food services increasing (or wanting to increase) its ownership stake in A&W Revenue Royalties Income Fund from 21.1% to something in the vicinity of 24.7%. I cannot see this as anything but good news as it is essentially insiders buying significantly into the fund. My question is, is this just that and would you consider the December buy levels (slightly above the current price) a sign of confidence toward the stock price? Or, is there something else potentially going on here? Thank-you.

Q: Good afternoon,

I have enough money to add a 5% position in one of the above companies. I know you like them all. Is there a particular one that jumps out at you at today's levels that you may consider a buy above the others? Growth being the main consideration, to be held inside a TFSA. Thanks for the great service. - Jeff

Q: Savaria is a small company in what seems to be a fairly fragmented market. What are their competitive advantages? Do they benefit from patents? Who are there primary competitors?

Bought a full position on your recommendation and it has run up nicely from the ~$14 range. Would you continue to hold? Also, what is the forward PE multiple?

Thanks very much!

Q: What are your thoughts on $wsp going forward. I currently hold a full position.

Thanks Valter

Q: Go Easy has had a nice run bought in at $27.00 Now 39 do you think it has a ways to go or would you take some money off the table thanx

Q: With Savaria getting 64% of their revenue from the US, do you see a material change in EPS with the US tax being reduced to 20-25% for Savaria?

Thanks, Barry

Q: 5i has not been too constructive on Airboss of late, and Ryan suggested on BNN that the management didn't really have their act together. What would you suggest as a switch for better growth potential. Does not need to be in the same sector or same level of risk. What do you feel has long term growth potential.
Thanks

Q: Update please

Q: chorus has gotten hammered last few days, any reason other than the labor contract .
and brp you had as a top pick, they announced new products and it also went down. anything i am missing.
dave

Q: We noticed that Enercare is down over 7 percent in the last three months. As bond yields go up and Enercare dividends are not increasing at the same rate, do you have any concerns over their valuation for the next one to three years?

Q: CGX downgraded today with a $37 target price.Dropped by $1.83 to $32 to continue its recent decline.Now at a 5 yr low.

Q: Guest on Market Call Tonight states CGX is spending all of its free cash flow on the dividend. Please refute or confirm, I'm in the stock for the dividend. Thanks 5i.

Q: Can you please provide the strength of each company in terms maintaining growth within this 6 months or more from good to least?

Q: They announced the hiring of a new president recently. The article mentioned that the new hire had a background in growing the cloud business at his previous company. Was this hiring part of an orderly transition at the company and does his background suggest a new direction for the company or just a good fit for what has always been going on there? Can we expect a little "spark" to this company now?

Appreciate your insight.

Paul F.