EMGS: First quarter results 2013
(Thomson Reuters ONE) -
Highlights in the first quarter 2013:
* Total revenues at USD 31.7 million
* EBITDA of USD 1.3 million
* Net loss of USD 2.5 million
* EMGS awarded contract worth USD 35 million in Brunei
* Cooperation agreement with Spectrum for the Foz do Amazonas basin in Brazil
Subsequent important events:
* EMGS awarded multi-client contract worth USD 6.4 million
* 2013 Barents Sea multi-client campaign launched
"Although the first quarter results represent a slow start to the year, we
expect to see significant improvements in Q2 and the second half of 2013. This
is based on increased contract coverage and sales potential from our large and
well-positioned multi-client library," says Roar Bekker, EMGS chief executive
officer.
The full first quarter report and presentation can be downloaded by clicking on
the links below.
Contact
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The company's services enable
integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency, and reduces risks and the
finding costs per barrel.
EMGS has conducted more than 650 surveys to improve drilling success rates
across the world's mature and frontier offshore basins. The company operates on
a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA;
and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
First quarter presentation 2013:
http://hugin.info/137402/R/1702353/562489.pdf
First quarter report 2013 :
http://hugin.info/137402/R/1702353/562488.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EMGS via Thomson Reuters ONE
[HUG#1702353]
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 260660
Anzahl Zeichen: 3059
contact information:
Town:
Trondheim
Kategorie:
Business News
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