Pulse Seismic Inc. press release
Pulse Data Inc. announces hiring of Richard Earle as Vice President Sales and Marketing
TSX - Toronto Stock Exchange ยท Canada
TSX Symbol - (TSX:PSD)
CALGARY, Jan. 9 /CNW/ - Pulse Data Inc. ("Pulse") is pleased to announce the hiring of Richard Earle as Vice President Sales and Marketing effective January 9, 2006. Mr. Earle will be responsible for supervising the activities of Pulse's seismic data sales and seismic participation surveys departments. In 1990 Mr. Earle co-founded and held the position of President of Time Seismic Exchange Limited, a Calgary based seismic data library company. In 1999 Veritas DGC Inc. acquired Time Seismic and Mr. Earle continued in the capacity of President until 2004 where he was instrumental in the business development of the company. With over 20 years of diverse experience in the seismic industry, Mr. Earle brings considerable knowledge and senior management skills, which will be a significant benefit to Pulse. "As industry demand for seismic data continues to grow, Pulse remains focused on providing a quality product to our clients and customers", stated Pulse President and CEO, Ken MacDonald. "Richard's extensive seismic experience will assist us in increasing our seismic library with quality 2D and 3D data, and assist us in increasing seismic sales revenues and free cash flow."(1) Pulse is a Calgary-based international company specializing in data ownership through acquisition, marketing and information management, with a current focus on the energy sector. Through its three operating segments, Pulse Seismic, Terrapoint and Trango, the Company has evolved into an industry leader in providing better information faster. Pulse Seismic is at the forefront with regard to acquiring, marketing and licensing seismic data in Western Canada. Pulse Seismic's library currently consists of approximately 240,000 net kilometres of 2D data and more than 9,200 net square kilometres of 3D data. Cash is generated through licensing of our seismic data library to the oil and gas industry in Western Canada. Pulse trades on the Toronto Stock Exchange under the symbol PSD.
(1) The Company's continuous disclosure documents provide discussion and analysis of "free cash flow". This financial measure does not have a standard definition prescribed by generally accepted accounting principles in Canada (GAAP) and therefore it may not be comparable to similar measures disclosed by other companies. The Company has included this non-GAAP financial measure because it is used by management, investors, analysts and others as a measure of the Company's financial performance. The Company's definition of free cash flow is cash available for debt servicing, discretionary capital expenditures and the payment of dividends, and is calculated as funds from operations less participation survey additions to the data library.
Certain information contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Investors are encouraged to review the "Risk Factors" section of the Management's Discussion and Analysis in the Company's Annual Report for 2004 and 2005 Interim Reports for a discussion of risks that could affect the Company's operations and financial results. Forward-looking statements are based upon management's assumptions, expectations and estimates at the time that such statements are made. Pulse does not update forward-looking statements should circumstances change or management's assumptions or expectations change.