Business
Pulse Data Inc. reports 20% increase in total seismic revenue for Q3 2008 and declaration of quarterly dividend
TSX Symbol - PSD CALGARY, Nov. 6 /CNW/ - Douglas Cutts, President and Chief Executive Officer of ...
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX Symbol - PSD\n\n\nCALGARY, Nov. 6 /CNW/ - Douglas Cutts, President and Chief Executive\nOfficer of Pulse Data Inc. ("Pulse" or "the Company") reports the financial\nand operating results of Pulse for the three and nine months ended September\n30, 2008.\n\n\nMr. Cutts is also pleased to announce that Pulse has declared its twenty\nsecond consecutive quarterly dividend. This dividend is $0.05 per common share\nand will be paid on December 19, 2008 to shareholders of record at the close\nof business on December 5, 2008. The Company's Dividend Reinvestment Plan for\neligible shareholders will be available for this dividend.\n\n\nA conference call to review the third quarter results has been scheduled\nfor 1:00 pm EDT (11:00 am MDT) on Friday, November 7, 2008. The conference\ncall dial-in number is 1 800-594-3615 and (416) 644-3424 (Toronto). A live\nwebcast of the conference call will be available at:\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)2443320.\n\n\nHIGHLIGHTS\n\n- Total seismic revenue was $14.0 million for the three-month period\n ended September 30, 2008, compared to $11.6 million for the same\n period in 2007, representing a 20 percent increase and second highest\n quarter recorded for total seismic revenue. Total seismic revenue\n was $33.1 million for the nine-month period ended September 30, 2008,\n compared to $32.8 million for the same period in 2007.\n\n- Seismic data library sales were $8.1 million for the three months\n ended September 30, 2008 ($26.8 million for nine months) compared to\n $9.1 million during the same period in 2007 ($30.2 million for nine\n months), and participation survey revenue increased to $5.9 million\n for the three months ended September 30, 2008 from $2.5 million\n (restated)(c) for the same period in 2007.\n\n- Net earnings for the three month period ended September 30, 2008 were\n $2.2 million ($0.04 per share basic and diluted) compared to a net\n loss of $4.2 million ($0.08 per share basic and diluted) for the same\n period in 2007. Net earnings for the nine months ended September 30,\n 2008 were also $2.2 million ($0.04 per share basic and diluted)\n compared to a net loss of $4.7 million ($0.09 per share basic and\n diluted) for the same period in 2007.\n\n- Cash EBITDA(b) for the three months ended September 30, 2008 were\...