ASKER, NORWAY (8 January 2013) - TGS announces 2013 full year guidance and Q4 2012 update.
Based on preliminary reporting from operating units, TGS management expects net revenues for the fourth quarter of 2012 to be approximately 280 MUSD, bringing estimated net revenues for the full year of 2012 to approximately 931 MUSD, 53% higher than 2011. Multi-client investments for the fourth quarter are expected to be approximately 93 MUSD. Management will give a full report of Q4 2012 results on 7 February 2013.
For 2013 the guidance is as follows:
Multi-client investments 530 - 600 MUSD
Average pre-funding 50 - 60%
Average multi-client amortization rate 40 - 46%
Net revenues 970 - 1050 MUSD
Contract revenues approximately 5% of total revenues
To access a presentation on the guidance via webcast go to the Company website at www.tgs.com
The slides from the presentation are also available in PDF format at both the TGS and Oslo Stock Exchange websites.
CEO Robert Hobbs and CFO Kristian Johansen will also host a conference call on 8 January 2013 at 15:00 CET Norway time (9:00 AM New York time). Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.
Norwegian attendees are invited to call +800 56054 or +47 2316 2771
International attendees are invited to call 0800 279 4992 or +44 (0)20 7136 2055
US attendees are invited to call +1 877 280 2296
Participants will need to quote the following confirmation code when dialing into the conference: 4175002.
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 the TGS conference call,
dial +47 2100 0498 (Norway) or +44 (0)20 3427 0598 (International) or +1 347 366 9565 (US)
replay access code 4175002 followed by # (pound-sign)
A replay of the conference call will also be available at www.tgs.com.