Business
Pulse Data Inc. reports record Q2 2008 seismic data library sales and declaration of quarterly dividend
TSX Symbol - PSD CALGARY, Aug. 11 /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, Aug. 11 /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 six months ended June 30,\n2008.\n\n\nMr. Cutts is also pleased to announce that Pulse has declared its twenty\nfirst consecutive quarterly dividend. This dividend is $0.05 per common share\nand will be paid on September 19, 2008 to shareholders of record at the close\nof business on September 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 second quarter results has been scheduled\nfor 1:00 pm EDT (11:00 am MDT) on Monday, August 11, 2008. The conference call\ndial-in number is 1 800-594-3790 and (416) 644-3420 (Toronto). A live webcast\nof the conference call will be available at:\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)2352240.\n\n\nHIGHLIGHTS\n\n- Record Q2 seismic data library sales and second-highest quarterly\n data library sales in Pulse's history of $10.9 million for the three\n months ended June 30, 2008 compared to $10.5 million in Q2 2007.\n\n- Cash EBITDA(b) for the three months ended June 30, 2008 was\n $8.8 million compared to $8.3 million for the same period in 2007.\n\n- Working capital position of $12.3 million (including cash of\n $11.3 million) at June 30, 2008 compared to $8.0 million (including\n cash of $8.6 million) at June 30, 2007.\n\n- Net earnings from continuing operations for the three month period\n ended June 30, 2008 were $1.0 million ($0.02 per share basic and\n diluted) compared to $336,000 ($0.01 per share basic and diluted) for\n the same period in 2007.\n\n- In the second quarter of 2008 the Company purchased and cancelled,\n through the normal course issuer bid, 1,280,900 common shares at an\n average price of $2.74 per share, before brokerage fees, at a total\n cost of $3.5 million.\n\n- In Q2 2008 the Company purchased three seismic datasets totalling 172\n net square kilometres of 3D seismic data. The seismic data covers the\n general Bakken trend of southeast Saskatchewan and also covers\n portions of the prolific Wild River Field located in northwest\n Alberta.\n\n- On May 31, 2008 Pulse completed the sale of its T...