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TGS Announces Record Revenues of 245 MUSD and Reaffirms 2012 Guidance
TGS Announces Record Revenues of 245 MUSD and Reaffirms 2012 GuidanceASKER, NORWAY (1 November 2012) - TGS reports net revenues of USD 245 million in Q3 2012, compared to USD 136 million in Q1 2011, a 53% increase. This is the highest quarterly revenue figure in the Company's history. Net late sales totaled USD 139 million, up 53% from Q3 2011. TGS' operating profit (EBIT) was USD 101.3 million (41% of net revenues), compared to USD 61.0 million (38% of net revenues) in Q3 2011.
3 QUARTER HIGHLIGHTS
9 MONTHS FINANCIAL HIGHLIGHTS
"We are pleased to announce another record quarter, both in terms of revenue and operating profit," TGS' CEO Robert Hobbs stated. "Our customers are continuing to show strong interest in funding new surveys, and our existing library continues to perform well. TGS' revised revenue guidance reflects a strong seismic market providing good opportunities for profitable growth."
To access TGS Q3 2012 results information, click on the links below or go to the Company website at www.tgs.com:
TGS Q3 2012 Earnings Release
TGS Q3 2012 Presentation Slides
TGS Q3 2012 Webcast
Q3 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will also host a conference call on 1 November 2012 at 14:00 CET (9:00 AM New York time). Attendees may want to call 5-10 minutes before 14:00 CET (9:00 AM NY) to ensure registration and access.
Participants will need to quote the following confirmation code when dialing into the conference: 8842580 .
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 and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. 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).
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
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Email: karen.el-tawil@tgs.com
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Attachment(s)
http://hugin.info/86869/R/1654305/534469.pdf
http://hugin.info/86869/R/1654305/534475.pdf
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