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Canadian Investing / Canada - Microcaps
|Subject: Dalmac (DAL) .52 earns .07 for Qtr||Date: 3/14/2012 11:14 AM|
|Author: LTMatt1||Number: 3294 of 3296|
Probably one of the most under the radar companies out there. Only trades on the Venture exchange, no pink sheet/adr.
They ought to be able to make another .04 quarter to close out their fiscal 2012. That would put them at .14 EPS TTM. Stock is trading at about a 5 P/E.
Based on their utilization rates they still have excess capacity to feed into the growing oil industry buildout in Canada (well workovers, recompletions, water/fluid hauling, etc). One time expenses related to the hiring of new employees in Q1 to meet the growing demand put a hit on earnings out of the gate this year. We're starting to see that investment pay off and should continue to see increased earnings throughout the remainder of the year.
EDMONTON , AB, March 13, 2012 /CNW/ - John Babic , President and CEO of Dalmac Energy Inc. ("Dalmac") (TSXV: DAL.V - News) is pleased to announce third quarter financial results for the three and nine month periods ended January 31, 2012 .
Revenues for Q3'12 increased by 33% to $11M in comparison to $8M in Q3'11. YTD'12 revenues increased 38% to $25M as compared to $18M for YTD'11. The gross margin for the quarter was $3.7M and $7.7M for the year to date. The gross margin, as a percentage of revenue, remained firm at 34% for both Q3'12 and Q3'11. The YTD'12 gross margin was 31% compared to 34% reported in YTD'11. This slight decrease is in good part associated with the implementation of safety ($250K) and employee training ($75K) costs referenced in the Q1'12 MD&A.
Pre-tax net earnings for Q3'12 increased by 54% over Q3'11 to $1.8M ( $0.09 /share) compared to $1.1M ( $0.06 /share). YTD'12 pre-tax net earnings increased by 52% over YTD'11 to $2.4M ( $0.12 /share) compared to $1.6M ( $0.09 /share). Following a $448,605 future tax allocation in the current quarter, the Company's net earnings increased by 15%, to $1.3M ( $0.07 /share) on the quarter and 24% to $1.9M ( $0.10 /share) for the year to date. There were no future tax accruals entered in Q3'11 or YTD'11.
(in thousands of dollars,
except per share data) Q3 2012 Q3 2011 YTD 2012 YTD 2011
Revenues $10,931 $ 8,219 $ 24,708 $17,943
Gross margin 3,716 2,824 7,688 6,133
Gross margin % 34% 34% 31% 34%
EBITDAS(1) 2,502 1,966 4,568 3,869
EBIDTAS per share -- basic 0.13 0.11 0.23 0.21
Net income 1,305 1,139 1,943 1,571
Net income per share -- basic 0.07 0.06 0.10 0.09
Net income per share -- diluted 0.06 0.06 0.10 0.08
(1) EBITDAS stands for earnings before interest, taxes, depreciation,
Amortization, and stock based compensation.
Despite the relatively mild winter which signaled a delayed start to the normal winter well servicing demands, Q3'12 turned out to be a record setting quarter for Dalmac, one in which the activity levels significantly surpassed those of Q3'11. This trend is consistent with the overall industry utilization rates which are surging at record levels. The metrics driving the current activity stem mainly from strong oil prices. The producers are being compensated for the weaker natural gas prices by making a shift from natural gas to liquids and crude oil. Concurrent with this development is the resulting trend towards more complex well completions which are dee