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Who’s Hot? The Top Performing TSX Tech Stocks for week of June 13th-17th, 2011

Noveko execs Andre Leroux and Alain Bolduc. Shares of the Montreal based company leapt after a deal to install  air filters into Airbus 330 planes.
Noveko execs Andre Leroux and Alain Bolduc. Shares of the Montreal based company leapt after a deal to install air filters into Airbus 330 planes.

Wondering who’s hot? Cantech Letter breaks down the The Top Performing TSX Techs for week of June 13th-17th, 2011.

The list includes any stock listed on the TSX technology, cleantech and life sciences indices with a minimum share price of $.50 cents as of June 10th, 2011.

1. Noveko International Inc. (TSX:EKO) +39.7%

Shares of Noveko, which holds patents holds patents for a variety of antimicrobial products including hand sanitizers, surgical masks and respirators, leapt after the company earned STC Certification from Transport Canada that allows for the install of air filters into the Airbus 330. The announcement comes on the heels of an agreement with HTS, a New York based company who will incorporate Noveko filtration systems into its HVAC systems. Shares of Noveko soared during the swine flu scare of 2009, when its antimicrobial surgical masks were flying off the shelves, but struggled after the World Health organization declared that the H1N1 virus had run its course. When the threat of the swine flu fizzled out, so did shares of Noveko.

2. Bridgewater Systems Corporation (TSX:BWC) +32.8%

Although some analysts thought the price was too low and the timing wrong, Bridgewater’s surprising sales to Amdocs, announced last Friday, was a 30% premium to the stock’s $6.33 closing price the day before. The move isn’t a major win for Ottawa tech legend Terry Matthews, who once sold his Newbridge Networks to Alcatel for $7 billion, but it must be counted as a minor victory for Bridgewater, which makes policy management software that allows carriers to have much greater visibility and flexibility around billing functions. The Ottawa based company went public in 2007 at $5.50 a share

3. Hydrogenics Corporation (TSX:HYG) +23.3%

Mississauga’s Hydrogenics was founded in 1988, making it one of Canada’s longest serving, some would say longest suffering, alternative energy companies. The company designs hydrogen generation products based on water electrolysis technology and fuel cell products based on proton exchange membrane technology. High end stuff. Hydrogenics has spent a boatload of money on its technology, but has been a perpetual money loser. It’s losses were so staggering, in fact, that the company actually made $10.8 million selling $192 million worth of tax losses to Algonquin Power.

Last Thursday shares of the company spiked after the company announced it had completed a trial with Ontario’s Independent Electricity System Operator demonstrating the viability of its electrolyzer technology for utility-scale grid stabilization. The vaunted smart grid is the Holy Grail for clean energy companies and Daryl Wilson, Hydrogenics President and CEO, thinks the megawatt scale energy storage applications of its utility-scale hydrogen technology puts the company in play.

4. 01 Communique Laboratory (TSX:ONE) +19.0%

In April, Shares of 01 Communique (TSX:ONE) were hammered after a judge ruled that the Mississauga company’s case against LogMeIn will not go to trial. The stock closed down nearly 78%, to $0.40. Shares of the Mississauga based company had risen as high as $2.26 earlier this year, part of an extended rally that began last July, when the company, whose products, such as the I’m InTouch line, give you the ability to access and control your desktop personal computer from anywhere you are connected to the Internet, was declared the victor in patent litigation suit against giant Citrix Systems. Shares of 01 Communique perked up after it announced that Ottawa success story Wi-LAN will assist 01 Communique in the licensing of 01 Communique’s patents related to remote-access technology.

5. March Networks (TSX:MN) +15.0%

Shares of Ottawa based March Networks rose last week after the company reported record fourth quarter revenue of $27.5-million , which was a 30% increase over 2010’s Q4. March Networks has been mired in a slump since early 2007, as the losses piled up for the provider of video surveillance products. But right out of the gate in fiscal 2011, the company posted consecutive profitable quarters, including a Q2 in which the company posted 32% revenue gain to reach $28.3 million, which was a record. Peter Strom, the CEO of March Networks says the company is seeing a recovery in demand for its surveillance products, particularly in North America.

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About The Author /

Nick Waddell
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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