San Antonio, USA, 27 December 2006 – Analytical Surveys, Inc. (ASI) , a provider of utility-industry data collection, creation and management services for the GIS markets, and an emerging participant in the oil and gas industry, has announced financial results for its fiscal year ended September 30, 2006.
Revenue for the fiscal year was $4.3 million compared with $6.1 million in fiscal 2005. The company reduced its net loss available to common shareholders to $383,000, or $0.11 per diluted share, from $3.3 million, or $1.26 per diluted share, in fiscal 2005.
Lori Jones, CEO of ASI, said, “The substantial reduction in our net loss resulted from improved performance on our GIS contracts, a significant reduction in our overhead expenses and the sale of our Wisconsin production center. These enhancements came at the same time we worked to build a meaningful presence for our ASI Energy Division within the oil and gas industry. We are pleased by the progress we have made in this regard, and intend to build on this momentum throughout fiscal 2007.”
Analytical Surveys, Inc., which has historically served the GIS markets, has recently transitioned its focus toward the development of oil and gas exploration and production opportunities. ASI’s Energy Division is focused on high-quality exploratory and developmental drilling opportunities, as well as purchases of proven reserves with upside potential attributable to behind-pipe reserves, infill drilling, deeper reservoirs and field extension opportunities. ASI is headquartered in San Antonio, Texas. For more information, visit http://www.asienergy.com/.