ASKER, NORWAY (23 October 2013) - TGS reports net revenues of USD 191 million in Q3 2013, compared to USD 245 million in Q3 2012. Net late sales totaled USD 138 million, compared to USD 139 million in Q3 2012, demonstrating continued customer interest in TGS' high quality data library.
3rd QUARTER HIGHLIGHTS
9 MONTHS FINANCIAL HIGHLIGHTS
"Solid late sales in Q3 2013 demonstrated that customers continue to demand high quality data from our existing library. Our focus on quality has resulted in TGS foregoing or postponing a number of low pre-funded projects where the risk of achieving the required return is too high. We have also experienced some delays to permits in key geographical areas. We continue to deliver superior margins and see promising opportunities in the market entering into 2014," TGS' CEO Robert Hobbs stated.
To access TGS Q3 2013 results information, click on the links below or go to the Company website at www.tgs.com:
Q3 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 23 October 2013 at 15:00 CET (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: 5950091.
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.tgs.com.