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TGS Announces Q2 2013 EBIT of USD 98 Million
ASKER, NORWAY (1 August 2013) - TGS reports net revenues of USD 210 million in Q2 2013, compared to USD 215 million in Q2 2012. Earnings before interest and taxes (EBIT) totaled USD 98 million, corresponding to an EBIT margin of 47%. The Company's net late sales totaled USD 155 million, up 43% from Q2 2012 reinforcing the value of TGS' global data library.
2nd QUARTER HIGHLIGHTS
6 MONTHS FINANCIAL HIGHLIGHTS
"Q2 2013 was a quarter with strong late sales particularly from older vintages. We appreciate that our customers continue to demand high quality data from our existing library and we are pleased to report a profit margin of 47% in Q2," TGS' CEO Robert Hobbs stated.
To access TGS Q2 2013 results information click below:
Q2 2013 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 1 August 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: 3211079.
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
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Attachment(s)
http://hugin.info/86869/R/1720360/572703.pdf
http://hugin.info/86869/R/1720360/572707.pdf
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