Cathedral Energy Services Ltd. announces record quarterly and nine month revenues and Q4 dividend

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[{"type":"text","content":"\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\nCALGARY, Nov. 4, 2014 /CNW/ - Cathedral Energy Services Ltd. (the\n \"Company\" or \"Cathedral\" / TSX: CET) announces its consolidated\n financial results for the three and nine months ended September 30,\n 2014 and 2013.  Dollars in 000's except per share amounts.\n\n\nThis news release contains \"forward-looking statements\" within the\n meaning of applicable Canadian securities laws.  For a full disclosure\n of forward-looking statements and the risks to which they are subject,\n see \"Forward-Looking Statements\" later in this news release.\n\n\n2014 Q3 KEY TAKEAWAYS\n\n\n\nRecord quarterly revenues:\n\n\n\nOverall record for all quarterly revenues;\n\n\nRecord quarterly U.S. directional drilling revenues; and\n\n\nU.S. production testing had second highest revenues;\n\n\n\nThird quarter revenues were up 30% compared to 2013 Q3 and year-to-date\n revenues excluding international operations are up 31% over 2013;\n\n\nRecord nine month revenues;\n\n\n2014 Q3 EBITDAS increased 33% over 2013 and year-to-date EBITDAS\n excluding international operations has increased 26% over 2013; and\n\n\nIncrease in capital budget from $24,000 to $30,600.\n\n\n\n2014 Q3 FINANCIAL SUMMARY \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n  Three months ended September 30\n\n\n  Nine months ended September 30\n\n\n\n\n \n\n\n2014\n\n\n2013\n\n\n2014\n\n\n2013\n\n\n\n\nRevenues\n\n\n $\n\n\n77,376\n\n\n $\n\n\n59,734\n\n\n $\n\n\n202,193\n\n\n $\n\n\n159,447\n\n\n\n\nAdjusted gross margin % (1)\n\n\n \n\n\n24.8%\n\n\n \n\n\n25.1%\n\n\n \n\n\n22.0%\n\n\n \n\n\n24.1%\n\n\n\n\nEBITDAS (1)\n\n\n $\n\n\n14,347\n\n\n $\n\n\n10,757\n\n\n $\n\n\n29,079\n\n\n $\n\n\n24,691\n\n\n\n\n \n\n\nDiluted per share\n\n\n $\n\n\n0.40\n\n\n $\n\n\n0.30\n\n\n $\n\n\n0.80\n\n\n $\n\n\n0.68\n\n\n\n\nEBITDAS (1) as % of revenues\n\n\n \n\n\n18.5%\n\n\n \n\n\n18.0%\n\n\n \n\n\n14.4%\n\n\n \n\n\n15.5%\n\n\n\n\nFunds from operations (1)\n\n\n $\n\n\n11,832\n\n\n $\n\n\n7,876\n\n\n $\n\n\n23,719\n\n\n $\n\n\n18,959\n\n\n\n\n \n\n\nDiluted per share\n\n\n $\n\n\n0.33\n...

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