Dolphin Marine's Latest Financial Results Better Than Expected

Press Release
Wednesday, November 14, 2012

Dolphin Marine, suppliers of marine geophysical services, presents Q3 and first nine months of 2012 financial results

Highlights:

· Revenues of USD 61.2 million, compared to USD 43.0  
million in Q3 2011
· EBITDA of USD 28.9 million (47,2%), improved from  
USD  9.1  million in Q3 2011
· EBIT of USD 16.8 million (27,4%), compared to USD  
5.5 million in Q3 2011
· Net Income before tax of USD 16.4 million, compared  
with USD 3.9 million in Q3 2011 


· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway.

Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  
seismic services. High operational efficiency and  
fleet utilisation, improved contract pricing and  
strong Multi-Client sales from new projects, has  
generated better than expected third quarter revenues  
and profit." 



"From day one, Dolphin has emphasised the importance  
of building a strong internal geophysical and Multi- 
Client business competence. This strategy works.

Today our Multi-Client seismic model is being  
recognised by an increasing number new global clients  
and governmental authorities. By successfully  
initiating a senior unsecured bond loan of NOK 400  
million, Dolphin has strengthened its financial  
capabilities, secured the roll out of future strategy  
and increased its ability to compete in global  
markets." 



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