Business
Cathedral Energy Services Ltd. reports results for 2009 Q4 and the year ended December 31, 2009, updated 2010 capital budget and 2010 Q1 dividend
Cathedral Energy Services Ltd. reports results for 2009 Q4 and the year ended December 31, 2009, ...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, Mar. 3, 2010 (Canada NewsWire Group) -- /CNW/ -- Cathedral Energy Services Ltd. (the \"Company\" or \"Cathedral\" / TSX: CET) is pleased to report its results for 2009 Q4 and the year-end December 31, 2009, updated 2010 capital budget and 2010 Q1 dividend. Dollars are in '000's except for day rates and per share amounts.FINANCIAL HIGHLIGHTSThree months ended Years endedDecember 31 December 31--------------------- ---------------------2009 2008 2009 2008-------------------------------------------------------------------------Revenues $ 26,695 $ 50,506 $ 94,520 $ 178,928Gross margin %(1) 46% 42% 45% 45%EBITDAS(1) $ 5,864 $ 13,554 $ 16,652 $ 50,468Per share - diluted $ 0.16 $ 0.43 $ 0.48 $ 1.57Income before taxes $ 1,096 $ 9,086 $ 2,001 $ 34,594Net income $ 2,236 $ 9,737 $ 5,281 $ 30,139Per share - basic $ 0.06 $ 0.30 $ 0.15 $ 0.94Per share - diluted $ 0.06 $ 0.30 $ 0.15 $ 0.93Property and equipmentadditions $ 1,614 $ 21,054 $ 8,923 $ 47,618Weighted average sharesoutstanding:Basic ('000) 36,238 32,582 34,841 32,215Diluted ('000) 36,400 32,582 34,857 32,463--------------------------------------------------------------------------------------------------------------------------------------------------December December31 2009 31 2008-------------------------------------------------------------------------Working capital $ 22,451 $ 17,435Long-term debt excluding current portion 39,526 40,233Shareholders' equity 97,422 91,859--------------------------------------------------------------------------------------------------------------------------------------------------(1) see \"NON-GAAP MEASUREMENTS\"FORWARD LOOKING STATEMENTSThis news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as \"forward-looking statements\") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as \"anticipate\", \"achieve\", \"believe\", \"plan\", \"intend\", \"objective\", \"continuous\", \"ongoing\", \"estimate\", \"outlook\", \"expect\", \"may\", \"will\", \"project\", \"should\" or similar words suggesting future outcomes. In particular, this news release contains forward-looking s...