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Pulse Data Inc. Provides Corporate Update, Highlight Financial Estimates and Timing for Release of 2007 Audited Financial Results
TSX:PSD CALGARY, Feb. 12 /CNW/ - Douglas Cutts, President and Chief Executive Officer of Pulse Da...
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX:PSD\n\n\nCALGARY, Feb. 12 /CNW/ - Douglas Cutts, President and Chief Executive\nOfficer of Pulse Data Inc. ("Pulse" or the "Company"), is pleased to announce\nthat Pulse achieved estimated record annual seismic data library sales of\napproximately $41.2 million for the year ended December 31, 2007, a 20 percent\nincrease over the $34.2 million generated in 2006.\n\n\nIn the fourth quarter of 2007 Pulse recorded estimated seismic data\nlibrary sales of $11.0 million compared to $10.5 million in the fourth quarter\nof 2006.\n\n\nTotal seismic revenues (which include revenues from participation\nsurveys) for the year ended December 31, 2007 were $44.2 million compared to\n$37.3 million for 2006.\n\n\nFree cash flow(1) from continuing operations for the year ended December\n31, 2007 amounted to approximately $24.1 million compared to $19.2 million in\n2006. Pulse's working capital was approximately $12.2 million at December 31,\n2007 (including cash of $6.5 million). Pulse's net debt was $25.5 million at\nDecember 31, 2007. During 2007 the Company repurchased 664,900 common shares\nunder its Normal Course Issuer Bid at an average price of $2.83, for a total\ncost of $1.9 million.\n\n\nPulse also announces the following intended record and payment dates for\nits quarterly dividend in 2008:\n\nEx-Dividend Date Record Date Payable Date\n--------------------------------------------------------------\nMarch 26, 2008 March 28, 2008 April 11, 2008\nJune 4, 2008 June 6, 2008 June 20, 2008\nSeptember 3, 2008 September 5, 2008 September 19, 2008\nDecember 3, 2008 December 5, 2008 December 19, 2008\n\n\nThe financial information contained in this news release is based on\nmanagement's estimates and has not yet been approved by the Company's Audit\nCommittee or Board of Directors, or reviewed by the Company's auditors.\n\n\nPulse is also pleased to announce the appointment of Mr. Jeff Bectold to\nManager, Surveys. Mr. Bectold has over 13 years of experience in the seismic\nsurvey industry and will be responsible for the management and growth of the\nsurvey group of Pulse. Prior to joining Pulse, Mr. Bectold was Sales Manager,\nParticipation Surveys at Arcis Corporation from 2001-2007 and from 1987-2001\nheld various senior positions at Schlumberger, where he began his career.\n\n\nLooking ahead, Pulse has a cauti...