Pulse Seismic Inc - PLSDF STOCK NEWS

Pulse Seismic Inc. announces a $7.7 million seismic data licensing sales contract, bringing year-to-date sales to $30.7 million, a 328% increase over 2022. The company operates with a lean cost structure, pays regular and special dividends, and has bought back shares worth $12.0 million in 2023.

Pulse Seismic reports financial results for Q3 2023, approves quarterly dividend of $0.01375 per share, and highlights strong data library sales. The company has already distributed $0.19 per share in dividends in 2023. Total revenue for Q3 2023 was $5.1 million compared to $2.2 million in Q3 2022. Net earnings for Q3 2023 were $393,000 compared to a net loss of $1.7 million in Q3 2022. EBITDA for Q3 2023 was $3.3 million compared to $741,000 in Q3 2022. Pulse paid a special dividend of $0.15 per share and a regular quarterly dividend of $0.01375 per share in Q3 2023. The company has purchased 945,506 shares for $1.8 million in 2023. Pulse is debt-free and has a cash balance of $9.8 million as of September 30, 2023.

Pulse Seismic Inc. (TSX:PSD, OTCQX:PLSDF) has announced changes to its Board of Directors ahead of the AGM on May 3, 2023. Grant Grimsrud will retire, and the Board thanks him for his five years of service.

Patrick Ward is proposed for election to the Board. With over 40 years in the Canadian oil and gas sector, Mr. Ward is the President and CEO of Aqua Solutions Inc. He previously founded and led Painted Pony Energy Ltd., which was acquired by Canadian Natural Resources Limited in 2020.

Pulse Seismic is a market leader in seismic data acquisition and licensing, boasting the largest licensable seismic data library in Canada, covering approximately 65,310 square kilometers of 3D seismic and 829,207 kilometers of 2D seismic, primarily in the Western Canada Sedimentary Basin.

Pulse Seismic Inc. (TSX: PSD, OTCQX: PLSDF) has initiated an automatic share purchase plan (ASPP) to facilitate repurchases of its common shares under a normal course issuer bid (NCIB). The company received TSX approval to buy up to 3,070,659 shares, representing 10% of its public float, from November 16, 2022, to November 15, 2023. The ASPP allows the broker to purchase shares during periods when the company cannot trade due to regulatory constraints. Pulse is a leader in acquiring and licensing 2D and 3D seismic data, holding the largest licensable seismic data library in Canada, covering the Western Canada Sedimentary Basin.

Pulse Seismic Inc. (OTCQX: PLSDF) reported significant declines in its financial performance for the year ended December 31, 2022. Total revenue dropped to $9.6 million, down from $49.2 million in 2021. The company experienced a net loss of $7.9 million compared to a net profit of $21.5 million the previous year. Key metrics showed EBITDA at $2.0 million, down from $42.6 million, with shareholder free cash flow plummeting to $3.2 million from $32.1 million. Despite these results, the board approved a quarterly dividend of $0.0125 per share. The company maintains a cash balance of $5.8 million and is debt-free.