ASKER, NORWAY (7 February 2013) - TGS reports net revenues of USD 281.4 million in Q4 2012, compared to USD 180.9 million in Q4 2011, a 56% increase. The Company's operational multi-client investments were USD 95.3 million, up 56% from Q4 2011. TGS' net late sales totaled USD 203.7 million, up 29% from Q4 2011.
At the meeting held on 6 February 2013, the TGS Board of Directors decided to propose a dividend of NOK 8 per share to the shareholders at the June 2013 Annual General Meeting.
4th QUARTER HIGHLIGHTS
FULL YEAR 2012 FINANCIAL HIGHLIGHTS
"As announced at our 2013 guidance release on 8 January 2013, Q4 2012 was another record breaking quarter for TGS. We are particularly pleased to see that our existing library continues to perform well with late sales up 39% from Q4 2011," TGS' CEO Robert Hobbs stated. "Our pipeline of new investment opportunities continues to be strong in both traditional as well as new multi-client markets for TGS. The 2013 guidance therefore reflects a strong seismic market providing good opportunities for profitable growth."
To access TGS Q4 2012 results information click below:
Investor Presentation and Webcast
CEO Robert Hobbs and CFO Kristian Johansen will present the results at 08:30 CET on 7 February at Shippingklubben located at Haakon VII's gt 1 in Oslo, Norway. The presentation is open to the public and can also be followed live on the internet atwww.tgs.com.
The slides from the presentation will also be available in PDF format at both the TGS and Oslo Stock Exchange websites.
Q4 2012 Conference Call
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 7 February 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: 9966648.
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.