Market Overview

Divestco Reports 2017 Q3 Results

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CALGARY, Alberta, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Divestco Inc. (TSX-V:DVT) ("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 nine months ended September 30, 2017.

Financial Highlights

Overall Performance and Operational Results

                   
Financial Results (Thousands, Except Per Share Amounts)              
  Three months ended September 30 Nine months ended September 30  
    2017     2016   $ Change % Change   2017     2016   $ Change % Change  
                   
Revenue $    1,599   $   2,015   $    (416 ) -21 % $    9,432   $   8,287   $    1,145   14 %  
                   
Operating Expenses (1)     2,813       2,448       365   15 %     8,380       7,640       740   10 %  
                   
Other Loss (Gain)     (844 )     (9 )     (835 ) N/A     (806 )     62       (868 ) N/A   
                   
EBITDA (2)     (370 )     (424 )     54   N/A     1,858       585       1,273   218 %  
                   
Finance Costs      457       359       98   27 %     1,231       1,069       162   15 %  
                   
Depreciation and Amortization (3)     1,647       1,643       4   0 %     6,385       4,750       1,635   34 %  
                   
Net Loss $    (2,474 ) $   (2,426 ) $    (48 ) N/A  $    (5,758 ) $   (5,234 ) $    (524 ) N/A   
Per Share - Basic and Diluted     (0.04 )  
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