Pulse Seismic Inc. reports third quarter 2014 results and declares quarterly dividend

About this update from Pulse Seismic Inc.

[{"type":"text","content":"\n\n\nTSX: PSD\nOTCQX: PLSDF\n\n\nCALGARY, Nov. 7, 2014 /CNW/ - Pulse Seismic Inc. (\"Pulse\" or \"the\n Company\") reports its financial and operating results for the three and\n nine months ended September 30, 2014. The unaudited condensed\n consolidated interim financial statements and MD&A will be filed on\n SEDAR (www.sedar.com) and will be available on Pulse's website (www.pulseseismic.com).\n\n\nPulse has declared a quarterly dividend of $0.02 per common share. It\n will be paid on December 18, 2014 to shareholders of record at the\n close of business on December 4, 2014.\n\n\nPulse's key performance metrics of seismic data library sales, cash\n EBITDA(a) and shareholder free cash flow(a) each improved significantly in the three and nine-month periods ended\n September 30, 2014 over the prior year's comparative periods. A $10.3\n million data library sale in the third quarter was responsible for the\n improvement. Such revenue fluctuations are a normal part of the seismic\n data library business.\n\n\n\"Pulse's low fixed cost business model results in substantial cash\n margins, which increase in higher revenue quarters,\" commented Neal\n Coleman, Pulse's President and CEO. \"For the nine months ended\n September 30, 2014, 78 percent of the $27.4 million of data library\n sales converted to $21.3 million of shareholder free cash flow, while\n for the third quarter alone, 86 percent of the $14.5 million in data\n library sales generated $12.5 million in shareholder free cash flow.\"\n\n\nHIGHLIGHTS FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED SEPTEMBER\n 30, 2014\n\n\n\nSeismic data library sales for the third quarter of 2014 were $14.5\n million compared to $4.2 million for the comparable period in 2013.\n Seismic data library sales for the nine months ended September 30, 2014\n were $27.4 million compared to $22.5 million for the comparable period\n in 2013.\n\n\n\n\nTotal seismic revenue for the nine months ended September 30, 2014 was\n equal to the $27.4 million in data library sales, as no participation\n surveys were in progress during the period. By comparison, total\n seismic revenue for the comparable period in 2013 was $35.9 million and\n included $13.4 million of participation survey revenue.\n\n\n\n\nCash EBITDA was $12.7 million ($0.21 per share basic and diluted) for\n the third quarter of 2014 comp...

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