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TGS Announces Q3 Revenues of USD 191 Million and 42% EBIT Margin
ASKER, NORWAY (23 October 2013) - TGS reports net revenues of USD 191 million in Q3 2013, compared to USD 245 million in Q3 2012. Net late sales totaled USD 138 million, compared to USD 139 million in Q3 2012, demonstrating continued customer interest in TGS' high quality data library.
3 QUARTER HIGHLIGHTS
9 MONTHS FINANCIAL HIGHLIGHTS
"Solid late sales in Q3 2013 demonstrated that customers continue to demand high quality data from our existing library. Our focus on quality has resulted in TGS foregoing or postponing a number of low pre-funded projects where the risk of achieving the required return is too high. We have also experienced some delays to permits in key geographical areas. We continue to deliver superior margins and see promising opportunities in the market entering into 2014," TGS' CEO Robert Hobbs stated.
To access TGS Q3 2013 results information, click on the links below or go to the Company website at www.tgs.com :
TGS Q3 2013 Earnings Release
TGS Q3 2013 Presentation Slides
TGS Q3 2013 Webcast
Q3 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 23 October 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.
Participants will need to quote the following confirmation code when dialing into the conference: 5950091 .
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,
A replay of the conference call will also be available at www.tgs.com .
Company summary
TGS-NOPEC Geophysical 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 visit TGS online at www.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 (OSLO:TGS).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
For additional information about this press release please contact:
Kristian Johansen
Chief Financial Officer
Cell: + 47 47 60 33 34
Email: kristian.johansen@tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email : will.ashby@tgs.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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Attachment(s)
http://hugin.info/86869/R/1737506/582568.pdf
http://hugin.info/86869/R/1737506/582569.pdf
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