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Last 0.32 NOK
Change Today 0.00 / 0.00%
Volume 2.7M
PLCS On Other Exchanges
As of 10:25 AM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

polarcus ltd (PLCS) Snapshot

0.31 NOK
Previous Close
0.32 NOK
Day High
0.32 NOK
Day Low
0.30 NOK
52 Week High
05/26/14 - 4.00 NOK
52 Week Low
03/23/15 - 0.26 NOK
Market Cap
Average Volume 10 Days
-0.15 NOK
Shares Outstanding
Dividend Yield
Current Stock Chart for POLARCUS LTD (PLCS)

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polarcus ltd (PLCS) Details

Polarcus Limited, a marine geophysical company, through its subsidiaries, provides marine acquisition services primarily to multinational oil and gas companies worldwide. The company specializes in towed streamer data acquisition from pole-to-pole. Its contract services include conventional 3D surveys, broadband data acquisition, wide and multi-azimuth projects, and high density 4D production surveys; and multi-client project library services. The company operates a fleet of seven 3D seismic vessels. Polarcus Limited has collaboration arrangements with ION Geophysical Corporation to develop, execute, and market 3D multi-client seismic programs; and with Turkish Petroleum Corporation for seismic data acquisition, management, and crewing services for the vessel. The company was incorporated in 2007 and is based in Dubai, the United Arab Emirates.

600 Employees
Last Reported Date: 04/30/15
Founded in 2007

polarcus ltd (PLCS) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: $477.0K
Chief Operating Officer
Total Annual Compensation: $429.0K
Head of Strategic Investments and Executive V...
Total Annual Compensation: $608.0K
Compensation as of Fiscal Year 2014.

polarcus ltd (PLCS) Key Developments

Polarcus Limited Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Polarcus Limited reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, total revenue was $81.053 million against $121.413 million a year ago. Operating loss was $8.830 million against operating profit of $16.945 million a year ago. Loss before tax was $26.438 million against profit before tax of $0.962 million a year ago. Net loss and total comprehensive loss was $26.439 million or $0.039 per basic and diluted share against net income and total comprehensive income of $0.962 million or $0.002 per basic and diluted share a year ago. Net cash flows from operating activities was $51.473 million against $55.918 million a year ago. Payments for property, plant and equipment was $7.067 million against $12.699 million a year ago. Payments to acquire intangible assets was $0.046 million against $0.121 million a year ago. EBITDA was $35.226 million against $39.617 million a year ago.

Polarcus Limited Announces New Appointments

Polarcus Limited announced that at the AGM held on April 29, 2015, the shareholders elected Kitty Hall and Thomas Raaschou as member of the nomination committee for a one year service period commending on the date hereof and ending with the 2015 AGM.

Polarcus Limited Reports Group and Parent Earnings Results for the Year Ended December 31, 2014

Polarcus Limited reported group and parent earnings results for the year ended December 31, 2014. On group basis, revenues decreased by 12% to USD 466.7 million compared to USD 532.2 million in 2013 due to a decrease in contract revenue. Contract revenue decreased by 16% to USD 419.2 million compared to USD 496.4 million in 2013 due to a decrease in proprietary contract revenues. EBITDA for the year decreased by 29% to USD 150.1 million compared to USD 211.9 million in 2013. EBITDA margin decreased to 32% compared to 40% in 2013. EBIT (excluding impairments) decreased by 77% to USD 27.5 million compared to USD 118.1 million in 2013 and EBIT margin decreased to 6% compared to 22% in 2013. Net loss was USD 78.6 million compared to a net profit of USD 43.5 million in 2013. Capital expenditure was USD 52.1 million compared to USD 94.0 million in 2013. Expenditure in the year included the propulsion and streamer upgrade of Polarcus Naila. Operating loss was USD 1.301 million against operating profit of USD 118.092 million a year ago. Loss before tax was USD 78.392 million against profit before tax of USD 44.075 million a year ago. Diluted loss per share was USD 0.145 against earnings per share of USD 0.086 a year ago. Net cash flows from operating activities were USD 157.826 million against USD 191.268 million a year ago. Revenues earned by the parent company increased to USD 77.6 million in 2014 from USD 76.2 million the year before. The Parent company recorded a loss of USD 12.7 million in 2014 compared to USD 10.6 million in 2013. The Board of Directors proposes to allocate the loss for the year to the retained earnings equity reserve. Operating loss was USD 2.904 million against USD 1.234 million a year ago. Loss for the period before tax was USD 12.695 million against USD 10.618 million a year ago. Net cash flows from operating activities was USD 4.451 million against net cash flows used in operating activities of USD 11.056 million a year ago. Payments for property, plant and equipment was USD 11.148 million against USD 8.940 million a year ago. Payments for intangible assets were USD 13.333 million against USD 12.638 million a year ago.


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