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TGS Announces Q2 2012 Revenues of USD 215 Million and Increases Full Year Guidance
ASKER, NORWAY (2 August 2012) - TGS reports net revenues of USD 215 million in Q2 2012, compared to USD 136 million in Q2 2011, a 58% increase. This is the highest quarterly revenues in the Company's history. Investments were USD 162 million, up 162% from Q2 2011.
2nd QUARTER HIGHLIGHTS
6 MONTHS FINANCIAL HIGHLIGHTS
"TGS continues to break records and Q2 2012 is the best quarter in the history of the Company both in terms of revenue and operating profit," TGS' CEO Robert Hobbs stated. "While we see great interest from clients in funding new projects, we are also satisfied to see that our existing library data continues to perform well. Our strong performance in the first half of 2012 along with the acquisition of Arcis and attractive investment opportunities, allow us to further increase our investment and revenue guidance for 2012."
For 2012, the revised full year guidance is as follows:
To access TGS Q2 2012 results information, click on the links below or go to the Company website at www.tgs.com :
Investor Presentation and Webcast
CEO Robert Hobbs and CFO Kristian Johansen will present the results at 08:30 CET on 2 August 2012 at Shippingklubben located at Haakon VII's gt 1 in Oslo, Norway. The presentation is open to the public and can also be followed live on the internet at www.tgs.com .
Q2 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will also host a conference call on 2 August 2012 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: 5449761.
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
Office : +47 66 76 99 00
Cell: + 47 47 60 33 34
Email: kristian.johansen@tgs.com
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email: karen.el-tawil@tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
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Attachment(s)
http://hugin.info/86869/R/1631305/522955.pdf
http://hugin.info/86869/R/1631305/522956.pdf
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