Market Overview

Divestco Reports 2017 Q4 and Annual Results

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CALGARY, Alberta, April 30, 2018 (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 months and year ended December 31, 2017.

Financial Highlights

Overall Performance and Operational Results 

                     
Financial Results (Thousands, Except Per Share Amounts)                
  Three months ended December 31 Year ended December 31    
    2017     2016 $ Change % Change   2017     2016   $ Change % Change    
                     
Revenue $    3,323   $   7,679 $    (4,356 ) -57 % $    12,755   $   15,966   $    (3,211 ) -20 %    
                     
Operating Expenses (1)     3,044       2,501     543   22 %     11,424       10,141       1,283   13 %    
                     
Other Loss (Gain)     50       18     32   178 %     (756 )     80       (836 ) N/A     
                     
EBITDA (2)     229       5,160     (4,931 ) -96 %     2,087       5,745       (3,658 ) -64 %    
                     
Finance Costs      403       236     167   71 %     1,634       1,305       329   25 %    
                     
Depreciation and Amortization (3)     1,610       1,627     (17 ) -1 %     7,995       6,377       1,618   25 %    
                     
Net Loss $    (1,784 ) $   3,297 $    (5,081 ) N/A  $    (7,542 ) $   (1,937 ) $    (5,605 ) N/A     
Per Share - Basic and Diluted    
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