Pason reported 4Q15 EBITDAS of $21 mm, which was in line with our estimates. The Company is executing additional cost cutting initiatives totaling $20 mm in annual savings. The full benefit of these decisions will not be seen until 2017e. We expect incremental improvements in the cost structure through 2016e. The Company has reduced its 2016e capital program to $35 mm from $45 mm. We have reduced our 2016e EBITDAS to $46 mm from $55 mm due to lower pricing and International activity. Our forecas ....
29 Feb 2016
4Q15 Results
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4Q15 Results
Pason Systems Inc. (PSI:TSE) | 0 0 -0.1% | Mkt Cap: 1,477m
- Published:
29 Feb 2016 -
Author:
Ian B. Gillies -
Pages:
6
Pason reported 4Q15 EBITDAS of $21 mm, which was in line with our estimates. The Company is executing additional cost cutting initiatives totaling $20 mm in annual savings. The full benefit of these decisions will not be seen until 2017e. We expect incremental improvements in the cost structure through 2016e. The Company has reduced its 2016e capital program to $35 mm from $45 mm. We have reduced our 2016e EBITDAS to $46 mm from $55 mm due to lower pricing and International activity. Our forecas ....