TGS 2016 Financial Statements Approved
(Thomson Reuters ONE) -
Asker, Norway (23 March 2017) - The Board of Directors of TGS-NOPEC Geophysical
Company ASA has today approved the financial statements for 2016 showing a net
income USD 27.7 million in 2016. Net income has been increased by USD 5.4
million following a reduction of the tax expense compared to the preliminary
financial statements reported on 2 February 2017. EPS (fully diluted) is at
0.28 for 2016, and total equity is at USD 1,169 million at 31 December 2016.
The Annual Report for 2016 will be published on the company's website and
notified to the Oslo Stock Exchange in April 2017.
The Annual General Meeting will be held on 9 May 2017.
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, 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 principle 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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter
market under the symbol "TGSGY".
For additional information about this press release please contact:
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen(at)tgs.com
Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 begin_of_the_skype_highlighting
Email: will.ashby(at)tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2017 - 21:34 Uhr
Sprache: Deutsch
News-ID 532213
Anzahl Zeichen: 3339
contact information:
Town:
Asker
Kategorie:
Business News
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