Tesla Exploration Ltd., a geophysical services company, provides a range of geophysical and marine construction support services to the oil and gas exploration industry in North America, Europe, Africa, and internationally. The company operates in three segments: North American Land Seismic Acquisition, Tesla International, and Tesla Offshore. It offers three component (3C) technologies for full wave seismic recording services. The company’s 3C technology facilitates its clients to acquire shear wave seismic data in addition to the pressure wave data captured and processed for seismic imaging. It also provides geophysical services, such as survey design and management; seismic data acquisiti...
4500–8A Street NE
Calgary, AB T2E 4J7
Tesla Exploration Ltd. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 12 14
Tesla Exploration Ltd. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $24,630,000 compared to $27,107,000 a year ago. Adjusted LBITDA was $2,039,000 or $0.09 per basic share against EBITDA of $2,079,000 or $0.09 per basic share a year ago. Net loss was $7,002,000 or $0.32 per basic share against $3,863,000 or $0.17 per basic share a year ago. Cash flow used in operations of $1,078,000 or $0.05 per basic share compared to cash flow from operations of $4,233,000 or $0.19 per basic share a year ago. Capital expenditures were $2,643,000 compared to $14,249,000 for the last year. The decline in EBITDA was due to a decrease in absolute gross margin for reasons noted above along with an increase in general and administrative costs quarter-over-quarter.
For the six months, the company reported revenue of revenue of $86,123,000 compared to $93,463,000 a year ago. Adjusted EBITDA was $8,018,000 or $0.36 per basic share against $21,155,000 or $0.94 per basic share a year ago. Net loss was $3,873,000 or $0.17 per basic share against net earnings of $6,426,000 or $0.29 per basic share a year ago. Cash flow from operations of $6,264,000 or $0.28 per basic share compared to $20,009,000 or $0.89 per basic share a year ago. Capital expenditures were $18,853,000 compared to $17,337,000 for the last year.
Tesla Exploration Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year 2014
May 13 14
Tesla Exploration Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, revenue was CAD 61,493,000 compared to CAD 66,356,000 in the same period last year. Net earnings was CAD 3,129,000 or CAD 0.14 basic earnings per share against CAD 10,289,000 or CAD 0.46 basic earnings per share a year ago. Adjusted EBITDA was CAD 10,057,000 or CAD 0.45 basic earnings per share compared to CAD 19,076,000 or CAD 0.84 basic earnings per share a year ago. Cash flow from operations was CAD 7,342,000 or CAD 0.33 basic earnings per share compared to CAD 15,776,000 or CAD 0.70 basic earnings per share in the same period last year. Capital expenditures were CAD 16,210,000 compared to CAD 3,088,000 in the same period last year.
The company provided earnings guidance for the year 2014. For the year, the company expects despite challenges in certain regions during the first quarter of 2014, the outlook remains positive throughout the company. Significant contracts are in place across all segments and backlog remains strong. Tesla continues to look for ways to expand its service offerings and the geographical areas in which it operates.
Tesla Exploration Ltd. Announces Board Changes
Apr 8 14
Tesla Exploration Ltd. announced the appointment of Mr. Chris Brown as Vice President, HSE of the Corporation. Mr. Brown replaces Mr. Ronald Seabrook following his departure from the Corporation. Mr. Brown joined the Corporation in February 2012 as the HSE Manager of Tesla Exploration Inc., a wholly owned subsidiary of the Corporation. Prior to joining Tesla Exploration Inc., Mr. Brown held the position of Senior HSE Manager with an international geophysical seismic corporation.