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TGS Announces Record Revenues of 281 MUSD and a Proposed Dividend of NOK 8 per Share
ASKER, NORWAY (7 February 2013) - TGS reports net revenues of USD 281.4 million in Q4 2012, compared to USD 180.9 million in Q4 2011, a 56% increase. The Company's operational multi-client investments were USD 95.3 million, up 56% from Q4 2011. TGS' net late sales totaled USD 203.7 million, up 29% from Q4 2011.
At the meeting held on 6 February 2013, the TGS Board of Directors decided to propose a dividend of NOK 8 per share to the shareholders at the June 2013 Annual General Meeting.
4th QUARTER HIGHLIGHTS
FULL YEAR 2012 FINANCIAL HIGHLIGHTS
"As announced at our 2013 guidance release on 8 January 2013, Q4 2012 was another record breaking quarter for TGS. We are particularly pleased to see that our existing library continues to perform well with late sales up 39% from Q4 2011," TGS' CEO Robert Hobbs stated . " Our pipeline of new investment opportunities continues to be strong in both traditional as well as new multi-client markets for TGS . The 2013 guidance therefore reflects a strong seismic market providing good opportunities for profitable growth."
To access TGS Q4 2012 results information click below:
Investor Presentation and Webcast
CEO Robert Hobbs and CFO Kristian Johansen will present the results at 08:30 CET on 7 February 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 .
The slides from the presentation will also be available in PDF format at both the TGS and Oslo Stock Exchange websites.
Q4 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 7 February 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: 9966648 .
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).
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
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/1676213/546251.pdf
http://hugin.info/86869/R/1676213/546252.pdf
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