Archer Limited (ARCHER) Second Quarter 2011 Results
(Thomson Reuters ONE) -
Second Quarter Highlights
· Second quarter revenue of $ 459.9 million
· Second quarter EBITDA of $ 68.8 million. Non GAAP operating EBITDA
at $ 75.3 million, excluding $ 4.1 million of merger related costs and $ 2.3
million stock based compensation
· Net income for the quarter of $ 1.3 million including $ 4.1 million
of merger related costs
· Net interest bearing debt at the end of the second quarter 2011 at
$ 630.5 million
Archer's President and CEO, Jorgen P. Rasmussen, comments: "We are pleased to
report growth in both revenue and EBITDA in the 2nd quarter. Our outlook for
the business is positive for the remainder of 2011 and 2012, assuming the oil
price remains at current levels. After todays close of the Great White
acquisition, we look forward to welcome the employees into the Archer
organisation. It is our intention to continue our strong focus on integrating
acquired companies as well as increasing shareholder value further by executing
our organic and inorganic growth strategy."
In connection with the earnings release, a conference call/webcast will be held
at 3PM BST (4PM CEST) on Wednesday August 24, 2011 by Jorgen Peter Rasmussen,
President and Chief Executive Officer, Thorleif Egeli, Chief Operating Officer
and EVP, Christoph Bausch, Chief Financial Officer and EVP, and Lars Bethuelsen,
Senior Vice President M&A and IR.
For information on how to attend the webcast, detailed information is found on
our webpage;
http://www.archerwell.com/page/48/webcast.htm
Questions should be directed to:
Jorgen Peter Rasmussen, Chief Executive Officer
Christoph Bausch, Chief Financial Officer
Thorleif Egeli, Chief Operating Officer
Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
2011 2Q Results:
http://hugin.info/143663/R/1540737/471150.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: Archer Limited via Thomson Reuters ONE
[HUG#1540737]
Unternehmensinformation / Kurzprofil:
Datum: 24.08.2011 - 08:44 Uhr
Sprache: Deutsch
News-ID 58624
Anzahl Zeichen: 2806
contact information:
Town:
Stavanger
Kategorie:
Business News
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