Dave, The answer to your question is No. The FutureStock Review tries to separate itself by not accepting any remuneration from any companies featured. This is one of the main reasons for my subscription. I have researched this company, I also find this company to be undervalued at present levels. The oil-patch slow down may be a positive, as PF is in the business as a buyer and seller of new and used equipment and a seller of refurbished equipment. With the slow down many Oil&Gas companies are electing to sell used equipment and purchase refurbished equipment. PF seems well positioned to take advantage of the current situation.
CALGARY, May 20 /CNW/ - Petro Field Industries Inc., today announced the results from operations for the quarter ending March 31, 1998. Sales for thefirst six months of fiscal 1998, ending March 31, 1998, reached an all time high of $4,510,910 versus $2,027,771 for the same period last year. Total sales for fiscal 1997 were $4,268,234. Earnings before Income Tax,Depreciation and Amortization (''EBITDA'') for the period was $425,769 or$0.07 per share versus $131,236 or $0.02 per share, for the same period in fiscal 1997. Net income for the period was $236,069 or $0.04 per share versus $104,710 for the same period in fiscal 1997. Cash Flow From Operations for the period was $267,331 or $0.04 per share versus $105,539 or $0.02 per share or the same period in fiscal 1997. All of the above per share figures are calculated on a fully diluted basis.
Petro Field's President Bill Rollins stated, ''Based on conservative industry multiples, Petro Field's shares are significantly undervalued at this point in time. Over the past 6 months Petro Field's shares have traded in the range of $0.20 to $0.40 on The Alberta Stock Exchange under the trading symbol PF.''
For further information: Bill Rollins, President and CEO, (403)
244-3333, Fax: (403) 245-1821 |
