Last C$29.29 CAD
Change Today +0.29 / 1.00%
Volume 370.5K
PSI On Other Exchanges
Symbol
Exchange
Toronto
Berlin
As of 4:00 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

pason systems inc (PSI) Snapshot

Open
C$28.88
Previous Close
C$29.00
Day High
C$29.40
Day Low
C$28.83
52 Week High
04/15/14 - C$29.40
52 Week Low
04/19/13 - C$16.09
Market Cap
2.4B
Average Volume 10 Days
187.8K
EPS TTM
C$0.78
Shares Outstanding
82.2M
EX-Date
03/12/14
P/E TM
37.6x
Dividend
C$0.60
Dividend Yield
1.88%
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. to Confirm the Amended and Restated By-Law

Pason Systems Inc. announced certain amendments to the Corporation's by-law in connection with its Annual and Special Meeting of Shareholders. The board of directors has adopted these by-law amendments, including amendments to the advance notice requirement, which were first adopted and disclosed on November 8, 2013. The by-law amendments are effective as of March 19, 2014. At the May 7, 2014 meeting of shareholders, shareholders will be asked to confirm the amended and restated by-law.

Pason Systems Inc. Declares Quarterly Dividend, Payable on April 1, 2014

Pason Systems Inc. declared a quarterly dividend of CAD 0.15 per share on the company's common shares. The dividend will be paid on April 1, 2014 to shareholders of record at the close of business on March 14, 2014.

Pason Systems Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Capital Expenditure and Production Guidance for the Year 2014

Pason Systems Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenues of CAD 56,645,000 against CAD 52,571,000 a year ago. Operating profit was CAD 52,302,000 against CAD 41,435,000 a year ago. Income before taxes was CAD 31,887,000 against loss before tax of CAD 15,428,000 a year ago. Net income was CAD 24,288,000 against net loss CAD 13,703,000 a year ago. Diluted earnings per share were CAD 0.29 against diluted loss per share of CAD 0.16 a year ago. Cash used in operating activities was CAD 74,435,000 against CAD 38,203,000 a year ago. Additions to property, plant and equipment was CAD 17,265,000 against CAD 10,587,000 a year ago. Capital expenditures for the fourth quarter were CAD 20 million, up from the CAD 14 million in the previous year, as the deployment of new hardware, including the Pason Rig Display, and other components of the EDR evolutions ramped up. For the year, the company reported revenues of CAD 403,088,000 against CAD 386,514,000 a year ago. Operating profit was CAD 187,402,000 against CAD 173,126,000 a year ago. Profit before taxes was CAD 41,965,000 against CAD 59,748,000 a year ago. Net income was CAD 23,655,000 against CAD 39,884,000 a year ago. Diluted loss per share was CAD 0.29 against CAD 0.48 a year ago. Cash used in operating activities was CAD 73,348,000 against CAD 189,391,000 a year ago. Additions to property, plant and equipment was CAD 56,171,000 against CAD 60,284,000 a year ago. EBITDA net income for the full year were affected by a few onetime items, most notably, the previously mentioned resolution of the infringement lawsuit. For 2014, the company expects capital expenditure budget for the next 12 months is up to CAD 96.1 million, CAD 64.3 million of which is directed towards new hardware that can generate incremental revenue or save operating costs, CAD 17.2 million for maintenance capital, and CAD 14.6 million for capitalized R&D. The company provided production guidance for the year 2014. For the year, the company expects drilling industry activity in North America are flat to modestly positive for 2014, with a potential activity increase towards the end of the year and into 2015 driven by LNG-related gas drilling activity.

 

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Industry Analysis

PSI

Industry Average

Valuation PSI Industry Range
Price/Earnings 98.3x
Price/Sales 5.7x
Price/Book 6.3x
Price/Cash Flow 26.9x
TEV/Sales 5.5x
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