Market Overview

Divestco Reports 2017 Q2 Results

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CALGARY, Alberta, Aug. 24, 2017 (GLOBE NEWSWIRE) -- (TSX-V:DVT) – Divestco Inc. ("Divestco" or the "Company"), an exploration services company dedicated to providing a comprehensive and integrated portfolio of data, software and services to the oil and gas industry worldwide, today announced its financial and operating results for the three and six months ended June 30, 2017.

Financial Highlights

Overall Performance and Operational Results

                 
Financial Results (Thousands, Except Per Share Amounts)            
  Three months ended June 30 Six months ended June 30
    2017     2016   $ Change
  % Change     2017     2016   $ Change
  % Change  
                 
Revenue $    3,852   $ 3,135   $    717   23 % $    7,833   $ 6,272   $    1,561   25 %
                 
Operating Expenses (1)     2,670     2,517       153   6 %     5,567     5,192       375   7 %
                 
Other Loss     16     2       14   700 %     38     71       (33 ) -46 %
                 
EBITDA (2)     1,166     616       550   89 %     2,228     1,009       1,219   121 %
                 
Finance Costs     421     355       66   19 %     774     710       64   9 %
                 
Depreciation and Amortization (3)     1,635     1,675       (40 ) -2 %     4,738     3,107       1,631   52 %
                 
Net Loss $    (890 ) $ (1,414 ) $    524   N/A   $    (3,284 ) $ (2,808 ) $    (476 ) N/A  
Per Share - Basic and Diluted     (0.01 )   (0.02 )  
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