CERF Incorporated Announces 2015 Second Quarter Results

CALGARY, ALBERTA--(Marketwired - Aug. 28, 2015) - CERF Incorporated (the "Company" or "CERF") (TSX VENTURE:CFL) today announced its financial and operating results for the three and six months ended June 30, 2015.

"The second quarter of 2015 continued to be a challenging time for the energy industry. While the prolonged weakness in oil prices resulted in sharp year-over-year rig count declines CERF continues to be well positioned to withstand this current downturn," said Wayne Wadley, President and CEO of CERF. "Our diversified business platforms continue to help mitigate the full impact of the lower energy price environment. We have prudently managed our assets, headcount and expenses in the context of these weak economic conditions. When coupled with our strong balance sheet, CERF is well positioned to weather this downturn and has the ability to capitalize on investment opportunities as they arise."

2015 SECOND QUARTER HIGHLIGHTS

			Three months ended June 30		Six months ended June 30
(in $ 000s)			2015	2014	2015	2014
Revenue			9,292	10,014	26,953	22,439
	Adjusted EBIT1		(1,672)	987	1,026	3,051
	Net (loss) income		(1,966)	257	(723)	1,756
	Net income [loss] per share
		Basic	(0.05)	0.02	(0.02)	0.11
		Diluted	(0.05)	0.02	(0.02)	0.11
	Adjusted EBITDA2		1,255	2,602	6,790	6,628
	Dividends Declared		2,178	1,055	4,353	2,023

1,2 See Financial Measures Reconciliations on page 6 of CERF's second quarter 2015 MD&A and see accompanying notes to the Condensed Consolidated Interim Financial Statements.