In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.R360 Login
TGS places great emphasis on providing accurate and timely information to the market and shareholders. Our flexible, asset-light business model and ability to adjust costs rapidly continue to allow us to deliver significant shareholder value—even in a difficult market.Learn More
It is our vision to become the leading energy information company with the best people, quality and service. Our unique culture, people and quality library will ensure that when E&P companies think geoscientific data, they think TGS.Discover How
At TGS, we place great emphasis on providing accurate and timely information on our performance and projects to the market and shareholders. Here you can access our latest news, download articles or technical papers from our library, or learn more about our upcoming conferences and events.Discover How
Our most important competitive advantage is our people. The outstanding work of our project developers, geologists, geoscientists, data processors, sales and support people has made TGS the leading multi-client player. They’re the reason TGS delivers superior project quality and financial performance year after year.Discover How
Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments.Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments.Discover How
ASKER, NORWAY (5 May 2011) - TGS reports net revenues of USD 132 million in Q1 2011, compared to USD 148.2 million in Q1 2010. Investments and the corresponding pre-funding revenues were significantly lower in Q1 2011 than in Q1 2010 due to the expected back end loaded investment plan, as previously communicated to the market. Despite lower investments, TGS is pleased to report late sales of USD 84.8 million which is up 16% from Q1 2010, representing the highest late sales of any first quarter in the Company's history.
The operating profit for the first quarter was USD 59.0 million compared to USD 58.8 million for the same period last year. This represents an operating profit margin of 45% compared to 40% in Q1 2010. Cash flow from operations before multi-client investments was USD 138.2 million, representing an increase of 30% from Q1 2010.
"Our strong result in Q1 further confirms the value of our high quality data library and the importance of a strong and focused group of dedicated project development and sales individuals. This focused approach sets TGS apart. We are pleased to report record high late sales for a first quarter period and a promising start of a new year. These results put us well on track with our 2011 plan," TGS' CEO Robert Hobbs stated.
TGS maintains their full year 2011 guidance.
To access TGS Q1 2011 results information, click on the links below or go to the Company website at www.tgsnopec.com:
TGS Q1 2011 Earnings Release
TGS Q1 2011 Webcast
TGS Q1 2011 Presentation Slides
Q1 2011 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will also host a conference call on 5 May 2011 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.
Participants will need to quote the following confirmation code when dialing into the conference: 6488721.
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,
A replay of the conference call will also be available at www.tgsnopec.com.