BUZZ-Aimia Inc: Shares hit 5-yr low on bigger loss, lower rev

Fri Nov 13, 2015 11:32am EST
 
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** Marketing and loyalty services provider's shares fall as much as 16.3 pct at C$9.39, their lowest in over 5 years

** Posts bigger Q3 loss on lower revenue as slower economic growth in Canada hurt gross billings from Aeroplan loyalty program

** Cuts full-year gross billings and free cash flow estimates; raises capital budget estimate

** Aimia, which had 4,000 employees last year, will cut 200 jobs and shed non-core assets

** Q3 gross billings drop 8.4 pct to C$580.3 mln

** 3 of 11 brokerages rate the stock "buy", 7 "hold" and 1 "sell"; median PT C$13.50

** Up to Thursday's close, stock had fallen 23 pct this year