Pulse Seismic Inc. Announces Preliminary Unaudited Second Quarter 2013 Financial Results
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 07/16/13 -- Pulse Seismic Inc. ("Pulse" or "the Company") (TSX: PSD) (OTCQX: PLSDF) announces preliminary selected unaudited financial results for the three and six months ended June 30, 2013.
These financial results are based upon management's estimates and have not yet been approved by the Company's Audit Committee or Board of Directors or reviewed by the Company's auditors.
Pulse expects to release its full financial results for the three and six months ended June 30, 2013 on August 2, 2013.
Pulse's key performance metrics, which include cash EBITDA(a), shareholder free cash flow(a) and net earnings, all declined in the three and six-month periods ended June 30, 2013 from the prior year's comparative periods. Following quarterly records achieved in the first two quarters of 2012, lower data library sales were experienced in both the first and second quarters of 2013, accounting for the weaker results.
"Seismic data library sales have innately poor visibility, being influenced by a number of industry drivers and ultimately depending on capital spending decisions by individual energy producers," stated Neal Coleman, Pulse's President and CEO. "We are currently seeing fewer of the asset and corporate transaction-based sales of seismic data that contributed to last year's record results."
Pulse continues to benefit from its low cost structure and strong financial position, Coleman commented, which includes period-end debt of only 1.5 times its first-half 2013 cash EBITDA. Low costs enabled Pulse to continue delivering positive cash EBITDA and shareholder free cash flow in the first half of 2013, as well as to make significant debt repayments.
HIGHLIGHTS FOR THE PERIODS ENDED JUNE 30, 2013
"Revenue fluctuations are part of the seismic data library business, and Pulse's current results further confirm the Board of Directors' decision to set the Company's dividend at a conservative, sustainable level, one that has been maintained over the past 8 quarters," Coleman stated.
Q2 2013 CONFERENCE CALL
Pulse will host a conference call on Friday, August 2, 2013 at 11:00 am MDT (1:00 pm EDT) to discuss the Company's results for the second quarter. Neal Coleman, President & CEO, will chair the call with Pamela Wicks, VP Finance & CFO, taking part. A question-and-answer period will follow an update on the Company's strategy and outlook.
To participate please dial 416-340-8530 or 877-440-9795 approximately 10 minutes before the commencement of the call. To listen to the audio webcast of the conference call please visit the Company's website at .
An archival recording of the conference call will be available approximately one hour after the completion of the call until August 10, 2013. To access the replay, please dial 905-694-9451 or 800-408-3053 and enter the pass code 3376392.
CORPORATE PROFILE
Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,300 net square kilometres of 3D seismic and 340,000 net kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur.
Contacts:
Pulse Seismic Inc.
Neal Coleman
President and CEO
(403) 237-5559 or Toll-free: 1-877-460-5559
Pulse Seismic Inc.
Pamela Wicks
VP Finance and CFO
(403) 237-5559 or Toll-free: 1-877-460-5559
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Unternehmensinformation / Kurzprofil:
Datum: 16.07.2013 - 11:00 Uhr
Sprache: Deutsch
News-ID 278642
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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