Dawson Geophysical Company · NASDAQ:DWSN
Dawson Geophysical — Cowen and Company Ultimate Energy Conference 2014
18 slides from Dawson Geophysical's conference presentation, Dec 2, 2014
Slide 1: TGC Industries, Inc. - Cowen and Company Ultimate Energy Conference
TGC Industries, Inc. 1 Cowen and Company Ultimate Energy Conference December 2014 NASDAQ: TGE
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT In addition to historical information, this presentation contains forward-looking statements. These statements relate to future events or our future financial performance. These statements are only predictions and involve known and unknown risks, uncertainties, and other factor
Slide 3: Company Overview
COMPANY OVERVIEW A leading provider of onshore seismic data acquisition services in the U.S. and Canada Over 46 years of experience in seismic data acquisition Eagle Canada is a leading provider of seismic data acquisition services to the Canadian energy industry TGC acquires geophysical data using
Slide 4: Full Range of Seismic Data Acquisition Services
FULL RANGE OF SEISMIC DATA ACQUISITION SERVICES Permitting Acquire land permits for clients Surveying Survey crews equipped with the latest Trimble GPS receivers for accurate and dependable field operations Survey crews deploy source and receiver points and complete ground operations Utilize the lat
Slide 5: Customers and Contracts
CUSTOMERS AND CONTRACTS CUSTOMERS Independent and major E&P companies, multi-client data library firms Loyal client base Approximately 96% of revenue derived from repeat customers through the first 9 months of 2014 CONTRACTS Contract mix (through the first 9 months of 2014) Turnkey 99% Contract mix
Slide 6: TGC Financials
TGC FINANCIALS 7
Slide 7: Revenues
REVENUES 8 86,770 $ in thousands
Slide 8: Diluted Earnings Per Share
DILUTED EARNINGS PER SHARE 9 Per share amounts adjusted to reflect the 5% stock dividends paid in 2008, 2009, 2010, 2012, and 2013. 2008 2009 2010 2011 2012 2013 9Mos2014
Slide 9: EBITDA
EBITDA 10 EBITDA is a non-GAAP financial measure. For a definition of EBITDA and a reconciliation of EBITDA to our net income (loss), see Slide 17. $ in thousands
Slide 10: Strong Capitalization
STRONG CAPITALIZATION 11 $ in thousands 9/30/2014 12/31/2013 12/31/2012 12/31/2011 Cash, cash equivalents 25,064 16,130 8,614 15,746 Short-term debt 10,152 9,858 12,576 7,139 Long-term debt 6,677 7,385 16,298 6,956 Shareholders’ equity 63,990 69,131 77,986 63,720 Total assets 95,956 98,302 142,028 9
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS 12 Per share amounts adjusted to reflect the 5% stock dividends paid in 2008, 2009, 2010, 2012, and 2013. EBITDA is a non-GAAP financial measure. For a definition of EBITDA and a reconciliation of EBITDA to our net income (loss), see Slide 17. EBITDA Margin is computed by dividi
Slide 12: DWSN - TGC Strategic Business Combination
DWSN - TGC STRATEGIC BUSINESS COMBINATION Current Dawson and TGC Shareholders will own approximately 66% and 34% of the combined company, respectively. Continue Dawson and Eagle Canada as operating entities Structured as stock-for-stock transaction that qualifies as a reorganization for tax purposes
Slide 13: The New Dawson Geophysical
THE NEW DAWSON GEOPHYSICAL Expanded Geographic Presence Will operate in every major basin in the US Eagle Canada provides strong Canadian presence Combined Equipment Base Increases utilization Lowers cost Drives value for clients, shareholders and employees Combined Order Book Strength Improves util
Slide 14: The New Dawson Investment Considerations
THE NEW DAWSON INVESTMENT CONSIDERATIONS Expanded geographical presence Positioned to better serve clients through regional deployments Strengthened balance sheet Enhances operational and financial flexibility Enables company to respond more quickly to client needs and market conditions Compatible e
Slide 15: The New Dawson Pro Forma Data
THE NEW DAWSON 16 $ in thousands except EPS Pro Forma Income Statement Data Dawson TGE Pro Forma Combined Crew counts * 10 5 15 Total channels * 178,000 145,000 323,000 * Active during the quarter ended September 30, 2014 Nine Months Ended Year Ended June 30, 2014 September 30, 2013 Operating revenu
Slide 16: Appendix
APPENDIX 17
Slide 17: EBITDA Reconciliation
EBITDA RECONCILIATION EBITDA is a non-GAAP financial measure. We define EBITDA as net income (loss) plus depreciation and amortization expense, interest expense and income tax expense. We use EBITDA as a supplemental financial measure to assess: (i) the financial performance of our assets without re
Slide 18: TGC Industries, Inc. Thank you for your interest
TGC Industries, Inc. Thank you for your interest. 19
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