TGS 1st Quarter 2010 Interim Report
(Thomson Reuters ONE) -
1(st) QUARTER HIGHLIGHTS
* Consolidated net revenues were USD 148.2 million, up 109% from USD 70.8
million in Q1 2009.
* Gross late sales from the multi-client library totaled USD 96.1 million, up
132% from USD 41.5 million in Q1 2009. Net late sales of USD 73.4 million
were 145% up from Q1 2009
* Net pre-funding revenues of USD 69.6 million increased 102% compared to Q1
2009 and funded 72% of the Company's operational investments into new
multi-client products (USD 96.2 million).
* Operating profit (EBIT) was USD 58.8 million (40% of Net Revenues), up 197%
from USD 19.8 million in Q1 2009.
* Cash flow from operations after taxes but before investments was USD 106.3
million, versus USD 95.9 million in Q1 2009.
* Earnings per share (fully diluted) were USD 0.40 versus USD 0.13 in Q1 2009.
"Our strong results in Q1 have further confirmed our view that our customers
have returned to investing in high-quality data after a very challenging year
for our industry in 2009," stated TGS' CEO Robert Hobbs. "Strong interest in our
modern 3D and WAZ data in established plays such as the Gulf of Mexico has been
augmented with increased interest in our new 2D and 3D data off West Africa as
E&P companies continue to be drawn to this exciting new play."
TGS Q1 2010 Interim Report
CEO Robert Hobbs, VP Business Development Karen El-Tawil and Corporate
Controller Fredrik Amundsen will also host a conference call on 6 May 2010 at
15:00 CET Norway time (9:00 AM New York time). Norwegian attendees are invited
to call +47 2415 9758 and international attendees are invited to call +44 (0)
20 7806 1968. Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM
NY) to ensure registration and access.
Participants will have to quote the following confirmation code when dialing
into the conference: 4863443.
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 TGS conference call,
* dial +47 2100 0498 (Norway) or +44 (0) 20 7111 1244 (International)
* replay access code 4863443 followed by # (pound-sign)
A replay of the conference call will also be available at www.tgsnopec.com
Company summary
TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and
services to the oil and gas industry for the exploration and delineation of
hydrocarbon reserves. We design and acquire multi-client data projects
worldwide that make up our data library of seismic, gravity/magnetic and well
data, enhanced by our seismic imaging technology and regional interpretation
expertise. Visit TGS online at www.tgsnopec.com
Forward-looking statements & 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 news release please contact:
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email:karen.el-tawil(at)tgsnopec.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1412397]
TGS Q1 2010 Interim Report: http://hugin.info/86869/R/1412397/364653.pdf
Unternehmensinformation / Kurzprofil:
Datum: 06.05.2010 - 07:50 Uhr
Sprache: Deutsch
News-ID 20353
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