Canada NewsWire
CALGARY, March 3, 2016
TSX: PSD
OTCQX: PLSDF
CALGARY, March 3, 2016 /CNW/ - Pulse Seismic Inc. ("Pulse" or "the Company") is pleased to report its financial and operating results for the year ended December 31, 2015. The audited financial results were in line with the preliminary unaudited financial results announced in the Company's news release on January 18, 2016. The audited consolidated financial statements, accompanying notes and MD&A are being filed on SEDAR (www.sedar.com) and will be available on Pulse's website at www.pulseseismic.com.
"With weak commodity prices, a poor industry outlook and no sales visibility, it would be easy to dwell on the negative. We are not doing so," stated Neal Coleman, Pulse's President and CEO. "Pulse is firmly positioned to survive an extended downturn: costs are at a record low, we have no capital commitments or debt, and we are able to act on opportunities for counter-cyclical acquisitions to enlarge our main asset and expand future revenue-generating capacity."
HIGHLIGHTS FOR THE YEAR ENDED DECEMBER 31, 2015
HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2015
On January 26, 2016 the Company closed an acquisition and added approximately 107,000 net kilometres of 2D seismic data and 58 net square kilometres of 3D seismic data, increasing Pulse's 2D seismic data library by 31.5 percent from approximately 340,000 net kilometres to approximately 447,000 net kilometres.
SELECTED FINANCIAL AND OPERATING INFORMATION | | ||||
| | | | ||
| Three months ended December 31, | Year ended December 31, | |||
(thousands of dollars except per share data, | 2015 | 2014 | 2015 | 2014 | |
number of shares and kilometres of seismic data) | | | | | |
Revenue | | | | | |
| Data library sales | 8,759 | 8,385 | 21,214 | 35,743 |
| Participation surveys | - | - | 3,220 | - |
Total revenue | 8,759 | 8,385 | 24,434 | 35,743 | |
| | | | | |
Amortization of seismic data library | 4,979 | 5,279 | 22,836 | 22,507 | |
Impairment loss | 937 | - | 937 | - | |
Net earnings (loss) | 658 | 824 | (5,308) | 3,478 | |
| Per share basic and diluted | 0.01 | 0.01 | (0.09) | 0.06 |
Cash provided by operating activities | 2,901 | 13,122 | 17,094 | 27,985 | |
| Per share basic and diluted | 0.05 | 0.23 | 0.30 | 0.47 |
Cash EBITDA (a) | 7,043 | 6,661 | 15,121 | 28,615 | |
| Per share basic and diluted (a) | 0.13 | 0.12 | 0.27 | 0.49 |
Shareholder free cash flow (a) | 6,971 | 6,515 | 14,745 | 27,858 | |
| Per share basic and diluted (a) | 0.12 | 0.11 | 0.26 | 0.47 |
Capital expenditures | | | | | |
| Participation surveys | - | 36 | 3,959 | 36 |
| Seismic data purchases, digitization and related costs | 750 | 183 | 933 | 733 |
| Property and equipment additions | - | 43 | 14 | 64 |
Total capital expenditures Werbung Mehr Nachrichten zur Pulse Seismic Aktie kostenlos abonnieren
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