Du är här

2014-04-30

Spectrum ASA : 1st Quarter 2014 Results

------------------------------------------------------------------------
|Summary Q1-2014 |
| |
| SPECTRUM GROUP |
| Quarter Quarter 12 months |
| ended ended ended |
| 31.03.14 31.03.13 31.12.13 |
|(USD 1000) (Unaudited) (Unaudited) (Audited) |
| |
|Gross operating revenue 52 270 65 316 162 001 |
| |
|Net operating revenue 38 001 60 071 143 023 |
| |
|EBIT 8 500 28 301 41 641 |
| |
|Net Profit / (Loss) 5 958 6 833 29 155 |
| |
|Cash flow from operating activities 33 414 16 272 78 571 |
| |
|Investment in Multi-Client library 17 709 19 578 85 200 |
| |
|Multi-Client library Net book value 110 604 86 289 112 400 |
| |
|Cash and cash equivalents 17 369 12 127 2 719 |
------------------------------------------------------------------------

Q1 Highlights

- Gross Multi-Client sales in the quarter totalled MUSD 51.6
(2013:MUSD 64.9)

- Revenue share on Multi-Client sales was 27.7% compared to
8.1% in Q1 2013, giving Multi-Client net revenue of MUSD 37.3(2013:MUSD 59.7)

- Gross Multi-Client revenue were comprised of late sales of
MUSD 16.0 (2013: MUSD 54.3)
and prefunding on Multi-Client investments of MUSD 35.6(2013: MUSD 10.7)

- Net Multi-Client revenue were comprised of late sales of
MUSD 11.3 (2013: MUSD 49.0)
and prefunding on Multi-Client investments of MUSD 26.0(2013: MUSD 10.7)

- EBIT for the quarter was MUSD 8.5(2013: MUSD 28.3)

- Multi-Client investments were MUSD 17.7 with 147% prefunding
based on costs incurred vs net pre-sales(2013:MUSD 19.6 with 54% prefunding)

- Operational cash flow in Q1 of MUSD 33.4(2013: MUSD 16.3)

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

SpectrumQ114presentation
http://hugin.info/139450/R/1781159/609258.pdf
SpectrumQ114report
http://hugin.info/139450/R/1781159/609254.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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: Spectrum ASA via Globenewswire

HUG#1781159

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.