Topic: Growth Stocks

The Stock Pickers Digest Hotline – For Friday, March 27, 2009

Article Excerpt

PULSE DATA $1.17, symbol PSD on Toronto, fell over 15% this week after it announced that it was temporarily suspending its $0.05 quarterly dividend. The move was spurred by lower oil and gas prices, which pushed down exploration spending. Lower exploration spending hurts Calgary-based Pulse Data’s seismic data library sales. Suspending the dividend will save Pulse $2.6 million each quarter. Directors and senior managers are also cutting their pay and lowering the company’s administrative costs. In the three months ended December 31, 2008, Pulse Data lost $1.6 million, or $0.03 a share, compared to profits of $1 million, or $0.02 a share, a year earlier. The loss was mainly because of an 8.4% drop in data library sales, which provide 82% of Pulse Data’s revenue. Cash flow per share rose 13.3%, to $0.17 from $0.15, partly because share buybacks drove down the number of shares outstanding fell by 1.6%. Revenue rose 7.1%, to $12.3 million from $11.5 million. An almost fivefold jump…