TGS : TGS Announces Q1 2013 Revenues of USD 211 Million
ASKER, NORWAY (25 April 2013) - TGS reports net revenues of USD 211 million in
Q1 2013, compared to USD 191 million in Q1 2012, a 10% increase. The
Company's operational multi-client investments were USD 126 million, up 24%
from Q1 2012. TGS' net late sales totaled USD 127 million, up 12% from Q1
1st QUARTER HIGHLIGHTS
oConsolidated net revenues were USD 211 million, an increase of 10%
compared to Q1 2012.
oNet late sales totaled USD 127 million, up 12% from Q1 2012.
oNet pre-funding revenues were USD 56 million, down 25% from Q1 2012,
funding 44% of the Company's operational multi-client investments during
Q1 (investments of USD 126 million, up 24% from Q1 2012).
oProprietary revenues were USD 29 million, compared to USD 4 million in Q1
oOperating profit (EBIT) was USD 89 million (42% of net revenues), compared
to USD 89 million (46% of net revenues) in Q1 2012.
oCash flow from operations was USD 179 million, up from USD 147 million in
oEarnings per share (fully diluted) were USD 0.58, compared to USD 0.61 in
"We are pleased to report record late sales for a first quarter period
confirming the value of our high quality data library. These results put us
on track with our 2013 plan," TGS' CEO Robert Hobbs stated.
To access TGS Q1 2013 results information click below:
Q1 2013 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 25
April 2013 at 15:00 CET (9:00 AM New York time). Attendees may want to call
5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.
oNorwegian attendees are invited to call +800 56054 or +47 2316 2771
oInternational attendees are invited to call 0800 279 5004 or +44 (0)20
oUS attendees are invited to call +1 877 280 1254
Participants will need to quote the following confirmation code when dialing
into the conference: 5452624.
A Q&A session will follow a short introduction, based upon the presentation
issued in the morning. To pose a question, please press *1.
A replay of the conference call will be available shortly after. To access
replay of the TGS conference call,
odial +47 2100 0498 (Norway) or +44 (0)20 3427 0598 (International) or +1
347 366 9565 (US)
oreplay access code 5452624 followed by # (pound-sign)
A replay of the conference call will also be available at www.tgs.com.
TGS-NOPECGeophysical Company (TGS) provides multi-client geoscience data to
oil and gas Exploration and Production companies worldwide. In addition to
extensive global geophysical and geological data libraries that include
multi-client seismic data, magnetic and gravity data, digital well logs,
production data and directional surveys, TGS also offers advanced processing
and imaging services, interpretation products, permanent reservoir monitoring
and data integration solutions.
For more information visitTGS online atwww.tgs.com.
Forward-looking statements and contact information
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict, and are based
upon assumptions as to future events that may not prove accurate. These
factors include TGS' reliance on a cyclical industry and principal customers,
TGS' ability to continue to expand markets for licensing of data, and TGS'
ability to acquire and process data products at costs commensurate with
profitability. Actual results may differ materially from those expected or
projected in the forward-looking statements. TGS undertakes no responsibility
or obligation to update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange
For additional information about this press release please contact:
Chief Financial Officer
Cell: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: TGS via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.