Business
Pulse Data Inc. reports q1 2009 results
TSX Symbol - PSD CALGARY, May 7 /CNW/ - Douglas Cutts, President and Chief Executive Officer of P...
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX Symbol - PSD\n\n\nCALGARY, May 7 /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 months ended March 31, 2009. The\ninterim consolidated financial statements, accompanying notes and MD&A have\nbeen filed on SEDAR. These documents are also available on Pulse's website\nwww.pulsedatainc.com.\n\n\nFINANCIAL HIGHLIGHTS\n\n- Total seismic revenue for the three months ended March 31, 2009 was\n $7.0 million, consisting of $2.1 million in data library sales and\n $4.9 million in participation survey revenue; compared to total\n seismic revenue of $7.8 million, comprised entirely of data library\n sales, for the same period in 2008.\n\n- One participation survey was completed during Q1 2009, adding 291 net\n square kilometres of 3D seismic data to the data library at a total\n cost of $8.9 million (and a net cost to Pulse of $2.9 million).\n\n- Cash EBITDA(b) for the three months ended March 31, 2009 was $663,000\n ($0.01 per share basic and diluted), compared to $5.9 million\n ($0.11 per share basic and diluted) for the same period in 2008.\n\n- Net loss was $2.9 million ($0.05 per share basic and diluted) for the\n three months ended March 31, 2009 compared to a net loss of\n $1.4 million ($0.03 per share basic and diluted) for the same period\n in 2008.\n\n- A total of 237,100 common shares were purchased and cancelled through\n the normal course issuer bid program for a total cost of\n approximately $371,000.\n\n\nFINANCIAL HIGHLIGHTS\n\n(000s of dollars except per share data)\n\n 3 months ended Year ended\n March 31, December 31,\n ------------------ -------------\n 2009 2008 2008\n ---- ---- ----\n (unaudited)\nRevenue from continuing operations:\n Data library sales $ 2,152 $ 7,829 $ 36,894\n Participation surveys 4,872 - 8,509\n ------------------------------------\nTotal revenue from continuing\n operations $ 7,024 $ 7,829 $ 45,403\n\nAmortization of seismic data library $ 8,856 $ 6,646 $ 32,438\n\nNet earnings (loss) from\n continuing operations $ (2,925) $ (1,009) $ 880\nNet earnings (loss) from continuing\n operations per share:\n Basic and diluted $ (0.05)(a) $ (0.02)(a) $ 0.02\n\n\n\nNet earnings (loss) $ (2,925) $ (1,441) $ 586\nEarnings (loss) per share:\n Bas...