Business
Pulse Data Inc. reports 2005 results and confirms the previously announced 50% increase in the annual dividend rate
Pulse Data Inc. reports 2005 results and confirms the previously announced 50% increase in the annual dividend rate.
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Symbol - PSD\n\nCALGARY, March 14 /CNW/ - Mr. Ken MacDonald, President and Chief\nExecutive Officer of Pulse Data Inc. (\"Pulse\" or the \"Company\") reports the\nfinancial and operating results of Pulse for the year ended December 31, 2005.\nMr. MacDonald is also pleased to announce that Pulse has declared its\neleventh consecutive quarterly dividend. This dividend is $0.0375 per common\nshare and will be paid on April 14, 2006 to shareholders of record at the\nclose of business on March 31, 2006. This dividend represents a 50% increase\nin the annual dividend rate to $0.15 per common share, as previously announced\nin its news release on February 14, 2006. The Company's Dividend Reinvestment\nPlan for eligible shareholders will be available for this dividend.\nA conference call to review the 2005 year end results has been scheduled\nfor 1:00 pm ET (11:00 am MT) on Wednesday March 15, 2006. The conference call\ndial in number is (416) 644-3418 (Toronto) and 1-800-814-4941. A live webcast\nwill be accessible at:\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)1390400.\n\nHIGHLIGHTS\n\n - Free cash flow(1) for the year ended December 31, 2005 was\n $23.5 million, compared to $12.0 million in 2004.\n\n - Based on the Company's current share price, the dividend noted\n above represents an approximate yield of 5.3%.\n\n - Seismic data library sales increased by 36% to a record level of\n $34.9 million for the year ended December 31, 2005 compared to\n $25.7 million for the year ended December 31, 2004.\n\n - Pulse had a working capital position of $17.0 million at\n December 31, 2005 compared to a working capital position of\n $3.8 million at December 31, 2004.\n\n - Pulse repaid $5.5 million of long-term debt during 2005, and\n restructured its long-term debt facility with its principal\n lenders to include an additional $15.4 million which was used to\n purchase a significant data set in June 2005.\n\n - Pulse added 2,914 net square kilometres of 3D seismic to its data\n library during 2005 through the purchase of a significant seismic\n data set in June 2005 (approximately 2,500 net square kilometres\n of 3D data) and through four participation surveys (418 net square\n kilometres of 3D data), compared to the addition of 1,100 net\n square kilometres of 3D data through seven participation surveys...