Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PASON SYSTEMS INC. We currently have 17 research reports from 1 professional analysts.
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Research reports on
PASON SYSTEMS INC
PASON SYSTEMS INC
Reports 2Q16 Results; Outlook Unchanged
12 Aug 16
Pason reported 2Q16 results modestly behind expectations as R&D spending was higher than we had anticipated. Pason has reduced its 2016e capital program to $25 mm from $30 mm as it tries to achieve positive FCF before dividend payments. Our forecast would suggest that the Company will achieve this with positive FCF of $16 mm (which includes a cash tax recovery of $11 mm). The Company’s operations in Saudi Arabia continue to capture market share which is increasing profitability. The Company believes it is adequately staffed to handle a 50% increase in activity. This depicts the embedded operating leverage in the business.
1Q16e Preview and Commodity Update – All Is Quiet on the Western Front
13 Apr 16
We are updating our oilfield industry forecasts post the release of FirstEnergy’s new commodity price forecast for crude oil and natural gas on March 24, 2016. We have updated our 2016e Canadian well count/drilling days forecast to 3,209/37,335 from 3,800/43,325. In 2017e, we have left our forecast unchanged at 6,200 wells/70,200 days. In the U.S., our 2016e rig count forecast is now 482 (prior: 610) and 2017e is 675 (prior: 775). Data for 1Q16e came in weaker than our prior forecast anticipated, and we have lowered our estimates across our coverage universe accordingly. We are currently below 1Q16 consensus for 15 of 18 companies in our coverage universe, but the percentages are misleading given the absolute size of EBITDAS being earned this quarter.
ANNOUNCES DISMISSAL OF AUTO-DRIL LAWSUIT
08 Apr 16
Impact: Positive Pason has announced that all claims, answers, affirmative defenses, asserted by Auto-Dril against Pason and by Pason against Auto-Dril, have been dismissed. On February 2, 2015, Pason was named as a defendant in a patent infringement lawsuit by Auto-Dril. The patent was specifically related automatic drilling control systems based on electronic sensors placed at the bit.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.