Last C$28.57 CAD
Change Today -0.005 / -0.02%
Volume 4.5K
As of 10:15 AM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

pason systems inc (PSI) Snapshot

Open
C$28.56
Previous Close
C$28.57
Day High
C$28.58
Day Low
C$28.55
52 Week High
05/7/14 - C$32.06
52 Week Low
08/6/13 - C$17.55
Market Cap
2.4B
Average Volume 10 Days
119.4K
EPS TTM
C$0.67
Shares Outstanding
82.6M
EX-Date
06/11/14
P/E TM
42.6x
Dividend
C$0.60
Dividend Yield
1.99%
Current Stock Chart for PASON SYSTEMS INC (PSI)

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pason systems inc (PSI) Details

Pason Systems Inc. rents and sells instrumentation systems to land and offshore drilling operations in the oil and gas industry. Its solutions include data acquisition, wellsite reporting, remote communications, and Web-based information management. The company also offers DataHub, a Web application that collects, stores, and displays drilling data, reports, and real-time information for remote access. In addition, It provides Electronic Drilling Recorder, which provides a system of drilling data acquisition, data networking, and drilling management tools; Pit Volume Totalizer, a volume monitoring system to measure, calculate, and display readings from the mud system on the rig; Electronic AutoDriller, an automatic drilling system; and Gas Analyzer and Total Gas System to detect changes in relative volumes of hydrocarbon gases at the surface. Further, the company offers Torque and Tension Sub, a sensor providing measurements of torque and hook load; Electronic Choke Actuator, a device that provides a means of remotely controlling the choke valve from the doghouse; Hazardous Gas Alarm System, which detects the presence of combustible gases, and provides visible and audible alerts; Electronic Service Recorder that provides digital information to personnel on the wellsite and at the office; SideKick, a rig floor computer that allows for data entry and displays information around the rigl; and Rig Display, a touch screen computer to access services and applications on and around the rig floor. Additionally, it provides software products, such as enhanced pit volume totalizer, directional system, wellview field solution, and reporter to enhance performance, analyze data, or integrate data with other programs; geological services, including remote logging, monitoring, and geo-steering; integrated technical support services to install and maintain its products; and rig personnel training services. The company was founded in 1978 and is headquartered in Calgary, Canada.

Founded in 1978

pason systems inc (PSI) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$450.0K
Vice President of Corporate Operations
Total Annual Compensation: C$350.2K
Chief Technology Officer and Vice President o...
Total Annual Compensation: C$315.0K
Vice President of Operations - Canada
Total Annual Compensation: C$250.0K
Vice President of Finance
Total Annual Compensation: C$220.0K
Compensation as of Fiscal Year 2013.

pason systems inc (PSI) Key Developments

Pason Systems Inc. Enters into Joint Venture Agreement with Rawabi Holding Company Limited

Pason Systems Inc. announced that is has executed a joint venture agreement with Rawabi Holding Company Limited that determines the terms and conditions for the formation of Rawabi Pason Company Limited. The newly formed company will be registered under the laws of the Kingdom of Saudi Arabia. Under the terms of the agreement, each of Rawabi and Pason will own 50% of the issued and outstanding stock of the company and shall each nominate two individuals to the board of directors. The new company will be the exclusive distributor of Pason's data management systems for drilling rigs in the Kingdom of Saudi Arabia and will serve as service provider for Pason in certain countries in the region.

Pason Systems Inc. Declares Quarterly Dividend, Payable on July 2, 2014

Pason Systems Inc. announced that the Board of Directors declared a quarterly dividend of CAD 0.15 per share on the company's common shares. The dividend will be paid on July 2, 2014 to shareholders of record at the close of business on June 13, 2014.

Pason Systems Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Capex Guidance for the Year 2014

Pason Systems Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company generated consolidated revenue of CAD 123.2 million, up 13% from CAD 109.3 million in the same period of 2013. Consolidated EBITDA increased to CAD 70.5 million, 18% higher than the first quarter of 2013 and funds flow from operations increased 12% to CAD 56.3 million for the three months ended March 31, 2014. Net income decreased by CAD 8.8 million to CAD 20.8 million or CAD 0.25 per share from CAD 29.6 million or CAD 0.36 per share in the prior year period. Earnings were negatively impacted by a CAD 13.9 million increase in stock-based compensation as a result of a significant increase in the company's share price in the first three months of 2014. Operating profit was CAD 66,871,000 compared to CAD 56,092,000 for the same period last year. Income before income taxes was CAD 37,059,000 compared to CAD 41,106,000 for the same period last year. Free cash flow was CAD 47,876,000 compared to CAD 32,250,000 for the same period last year. Cash from operating activities was CAD 64,385,000 compared to CAD 46,194,000 for the same period last year. Capital expenditures for the first quarter were CAD 16.5 million, up from CAD 13.9 million the previous year, as deployment of new hardware, including Pason Rig Display and components of the EDR evolution, continued and upgraded a significant portion of fleet of Workstations in the United States. Additions to property, plant and equipment was CAD 14,453,000 compared to CAD 10,201,000 for the same period last year. The company capital expenditure forecast for the next 12 months is up to about CAD 100 million, CAD 70 million of which is directed towards new hardware that can generate incremental revenue or save operating costs.

 

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Industry Analysis

PSI

Industry Average

Valuation PSI Industry Range
Price/Earnings 100.0x
Price/Sales 5.7x
Price/Book 6.1x
Price/Cash Flow 30.9x
TEV/Sales 5.5x
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