RE: ARF Q1 2012 results date. Stock was pressured today (friday) due to Cannaccord's report that came out this morning, in which they lowered ARF's target price to $1.50, and suggested the June 30th Debt/EBITDA test (Brookfield facility) might be in jeopardy. The ratio cannot exceed 5.0X on TTM EBITDA. Cannaccord in their report estimated ARF needs roughly $26M in EBITDA during Q2'12 to just pass the test.
Additionally, the company has apparently deferred cash interest payments on the Brookfield facility, which is their option, but was noted in the Cannaccord report.
The other reports (from BMO, TD Securities, and Scotia) were all pretty much saying results were in-line or mildly above expectations for Q1, and their price targets range from $2 to $3.