Business
Pason Reports Fourth Quarter & Year End 2009 Results
Pason Reports Fourth Quarter & Year End 2009 Results
About this update from Pason Systems Inc.
[{"type":"text","content":"\n\n\n\nFeb. 24, 2010 (Canada NewsWire Group) -- CALGARY, Feb. 24 /CNW/ -- Pason Systems Inc. (\"Pason\" or \"the Company\") today announced its 2009 fourth quarter and year end results.PERFORMANCE DATA-------------------------------------------------------------------------Three Months Ended Years EndedDecember 31, December 31,2009 2008 Change 2009 2008 Change-------------------------------------------------------------------------(000s, except per ($) ($) (%) ($) ($) (%)share data)(unaudited)Revenue 41,013 84,617 (52) 145,861 292,528 (50)EBITDA (1) 13,620 32,415 (58) 46,651 144,883 (68)As a % of revenue 33.2 38.3 (13) 32.0 49.5 (35)Per share - basic 0.17 0.40 (58) 0.57 1.78 (68)Per share - diluted 0.17 0.40 (58) 0.57 1.77 (68)Funds flow fromoperations(1) 12,238 31,287 (61) 41,354 124,726 (67)Per share - basic 0.15 0.38 (61) 0.51 1.53 (67)Per share - diluted 0.15 0.38 (61) 0.51 1.52 (66)Earnings (loss) 2,480 12,639 (80) (5,510) 61,321 -Per share - basic 0.03 0.15 (80) (0.07) 0.75 -Per share - diluted 0.03 0.15 (80) (0.07) 0.75 -Capital expenditures 9,148 12,641 (28) 21,493 56,292 (62)Working capital 119,824 152,337 (21) 119,824 152,337 (21)Total assets 373,097 427,016 (13) 373,097 427,016 (13)Shareholders'equity 308,335 354,589 (13) 308,335 354,589 (13)Common sharesoutstanding (No.)Basic 81,487 81,799 - 81,476 81,426 -Diluted 81,487 81,799 - 81,476 81,936 (1)Shares outstandingend of period (No.) 81,487 81,456 - 81,487 81,456 ---------------------------------------------------------------------------------------------------------------------------------------------------(1) EBITDA is defined as earnings before interest expense, income taxes,stock-based compensation expense and depreciation and amortizationexpense. Funds flow from operations is defined as earnings adjustedfor depreciation and amortization expense, stock-based compensationexpense, future income taxes and other non-cash items impactingoperations as presented in the Consolidated Statements of Cash Flows.These definitions are not recognized measures under Canadiangenerally accepted accounting principles, and accordingly, may not becomparable to measures used by other companies.SUMMARY DATA-------------------------------------------------------------------------Three Months Ended Years EndedDecember 31, December 31,2009 2008 Change 2009 2008 Change--------------------...