Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, August 17, 2012

Article Excerpt

PASON SYSTEMS INC., $14.24, symbol PSI on Toronto, saw its revenue jump 29.8% in the three months ended June 30, 2012, to $81.1 million from $62.4 million a year earlier. Cash flow rose 31.5%, to $30.1 million, or $0.37 a share, from $22.9 million, or $0.28 a share. Pason rents equipment for monitoring and managing land-based oil rigs. It also provides communication systems that companies use to remotely collect data from their drilling operations. The company serves oil and natural gas companies and drilling contractors throughout Canada, the U.S., Mexico and Argentina. Even with declining oil prices and continued low gas prices, drilling activity rose 6% in the U.S. and Canada in the latest quarter, with a combined 188,291 active days and a rig count of 2,069, compared to 177,791 days and 1,954 rigs a year earlier. That was the main reason for the higher revenue and cash flow. The company also benefited from stronger activity in all of its international markets,…