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TGS announces Q3 revenues of USD 190 million
ASKER, NORWAY (23 October 2014) - TGS reports net revenues of USD 190 million in Q3 2014, compared to USD 191 million in Q3 2013. Earnings before interest and taxes (EBIT) totaled USD 71 million, corresponding to an EBIT margin of 38%. Cash flow from operations was USD 184 million, an increase of 57% from Q3 last year. A record Q3 backlog of USD 260 million was reported.
3 QUARTER HIGHLIGHTS
9 MONTHS FINANCIAL HIGHLIGHTS
"We are pleased to announce Q3 revenues in line with Q3 2013 despite a challenging market with lower oil prices and continued downward pressure on exploration spending. TGS continues to see good investment opportunities and will capitalize on our asset-light business model and strong balance sheet. Our record high back-log at the end of Q3 positions the company well to continue to deliver high quality data needed by the industry to identify new reserves," TGS' CEO Robert Hobbs stated.
To access TGS Q3 2014 results information, click on the links below or go to the Company website at www.tgs.com :
TGS Q3 2014 Earnings Release
TGS Q3 2014 Presentation Slides
TGS Q3 2014 Webcast
Q3 2014 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 23 October 2014 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: 8115596 .
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:
Chief Financial Officer
Cell: +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)
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Attachment(s)
http://hugin.info/86869/R/1865047/654752.pdf
http://hugin.info/86869/R/1865047/654770.pdf
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