Business
Pulse Data Inc. reports Q3 2007 results and declaration of increased quarterly dividend
TSX Symbol - PSD CALGARY, Nov. 7 /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. 7 /CNW/ - Douglas Cutts, President and Chief Executive\nOfficer of Pulse Data Inc. ("Pulse" or "the Company"), is pleased to report\nthe financial and operating results of Pulse for the three and nine months\nended September 30, 2007, which included new records in seismic data library\nsales and a more than 80 percent increase in free cash flow.\n\n\nMr. Cutts is also pleased to announce that Pulse has declared its\neighteenth consecutive quarterly dividend. The dividend is $0.05 per common\nshare (a 33% increase from the previous quarter) and will be paid on\nDecember 20, 2007 to shareholders of record at the close of business on\nDecember 6, 2007. Pulse's closing share price on November 7, 2007 of $2.86 per\nshare results in an effective yield of approximately 7.0%. The Company's\nDividend Reinvestment Plan for eligible shareholders will be available for\nthis dividend.\n\n\nA conference call to review the third quarter results has been scheduled\nfor 1:00 pm EST (11:00 am MST) on Thursday November 8, 2007. The conference\ncall dial-in number is (416) 644-3429 (Toronto) and 1-800-588-4490. A live\nwebcast of the conference call will be available at:\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)2066680.\n\n\nHIGHLIGHTS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2007\n\n- Third consecutive record quarterly seismic data library sales, as\n seismic data library sales increased by 30 percent to $9.1 million\n from $7.0 million in the third quarter of 2006.\n\n- New nine-month data library sales record through a 27 percent\n increase over highest previous nine-month data library sales,\n attaining $30.2 million in revenue compared to $23.7 million for the\n same period in 2006.\n\n- Strategic acquisitions of seismic data with the addition of 1,536 net\n square kilometres of 3D data and 65 net kilometres of 2D data in two\n data purchases during the third quarter.\n\n- Commenced Cutbank River 3D participation survey and delivered the\n first 79 net square kilometres in September, with the balance\n delivered subsequent to the end of the quarter.\n\n- Increase of 84 percent in free cash flow to $19.6 million for the\n current nine-month period from $10.7 million in the nine months ended\n September 30, 2006.\n\n- Working capital of $9.0 million ...