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Pason Systems' (PSYTF) CEO Marcel Kessler on Q4 2017 Results - Earnings Call Transcript

Mar. 04, 2018 4:48 AM ETPason Systems Inc. (PSYTF), PSI:CA
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Pason Systems Inc. (OTCPK:PSYTF) Q4 2017 Earnings Conference Call February 28, 2018 11:00 AM ET


Marcel Kessler - Chief Executive Officer

Jon Faber - Chief Financial Officer


Greg Colman - National Bank Financial.

Mike Mazar - BMO Capital Markets

Ian Gillies - GMP


Good morning. My name is Jody, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pason Systems Inc. Fourth Quarter and Year-End 2017 Results Conference Call.

The contents of today's call are protected by copyright and may not be reproduced without the prior written consent of Pason Systems Inc. Please note, the advisory is located at the end of the press release issued by Pason Systems yesterday, which describes forward-looking information.

Certain information about the company that is discussed on today's call may constitute forward-looking information. Additional information about Pason Systems, including the risk factors relevant to the company, can be found in its annual information form. [Operator Instructions].

Marcel Kessler, President and CEO; and Jon Faber, CFO, you may begin your conference.

Marcel Kessler

Thank you. Good morning everyone, I will start with the highlights of the fourth quarter and Jon will dive into the details of our financial and operational performance. And I will close with our perspectives on the outlook for the industry and for Pason, and we will then take any questions. Pason achieved a robust fourth quarter. We generated revenue of $66.2 million in this period, an increase of 36% from the prior year quarter, and 3% from the third quarter.

The main drivers of revenue growth were increased drilling activity in the North American land market and market share gains in the United States. As in the third quarter, revenue growth was again negatively impacted by a stronger Canadian Dollar

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