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TGS announces Q1 revenues of USD 172 million
ASKER, NORWAY (23 April 2015) - TGS reported net revenues of USD 172 million in Q1 2015, compared to USD 222 million in Q1 2014. Net late sales were weaker than anticipated at USD 72 million, reflecting a deterioration in seismic demand as energy companies significantly reduced exploration spending. Record high cash flow from operations of USD 260 million contributed to a cash balance of USD 352 million at the end of the quarter.
TGS' CEO Robert Hobbs stated.
To access TGS Q1 2015 results information click below:
CEO Robert Hobbs and COO/Interim CFO Kristian Johansen will host a conference call on 23 April 2015 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: 629507.
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 .
www.tgs.com
For additional information about this press release please contact:
COO/Interim CFO
Tel: +47 47 60 33 34
Email: kristian.johansen@tgs.com
Director Finance Western Hemisphere & Investor Relations
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
Copyright GlobeNewswire
Attachment(s)
http://hugin.info/86869/R/1913730/683620.pdf
http://hugin.info/86869/R/1913730/683621.pdf
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Source: %s via Globenewswire