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Topics News & Markets

Pason Systems Inc. raises Q4 earnings to $31.7 million

By The Canadian Press | February 22, 2012

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CALGARY - Pason Systems Inc. (TSX:PSI) says it earned $31.7 million dollars in the fourth quarter of 2011, or 39 cents per basic share.

The Calgary-based company earned $10.5 million, or 13 cents per share, in the same quarter a year earlier.

Pason Systems, which provides instrumentation systems to drilling rigs worldwide, recorded quarterly revenues of $97.6 million _ a 33 per cent gain. from the fourth quarter of 2010.

During 2011, the company says its primary product _ the Electronic Drilling Recorder _ was installed on 97 per cent of all active land rigs in Canada and just over half the land rigs in the U.S.

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