TGS reports net revenue of USD 222 mi for Q1 2014

Posted by Joseph R. Fonseca
Friday, April 25, 2014
TGS

TGS has reported net revenues of USD 222 million for the first quarter of 2014 a rise of 5% from USD 211 million in Q1 2013.Net late sales totaled USD 137 million, up 9% from USD 127 million in Q1 2013.

Net pre-funding revenues rose to USD 74 million and increase of 33% from Q1 2013 - funding 57% of the Company's operational multi-client investments during Q1 (investments of USD 129 million, up 3% from Q1 2013). Proprietary revenues were USD 11 million, compared to USD 29 million in Q1 2013.
 

Operating profit (EBIT) was USD 94 million (42% of net revenues), compared to USD 89 million (42% of net revenues) in Q1 2013.
 

Cash flow from operations was USD 223 million, compared to USD 179 million in Q1 2013.

Earnings per share (fully diluted) were USD 0.66, up 13% from Q1 2013.

"Our strong results in Q1 2014 have further confirmed the quality of our data library. We are pleased to report record late sales for a first quarter period and a promising start of a new year. As of 31 March 2014, our cash holdings amounted to USD 366 million. This supports our commitment to deliver shareholder returns through a combination of growth, dividends and share buy-backs" TGS' CEO Robert Hobbs stated.

CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 24 April 2014 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.
 
A replay  of the conference call will also be available at www.tgs.com.

TGS




 

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Fortum Buys Stake in Wave Power Startup

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

ABB Celebrates 125th Anniversary in Finland

ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today

Finance

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council.

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Energy

Fortum Buys Stake in Wave Power Startup

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed

Gazprom Neft Starts Oil Production, Shipments from Iraqi Badra Field

Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom ,

Statoil Says Normal Operations at In Amenas Gas Plant Resuming

Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by Islamist militants killed forty employees, one of the plant's operators, Statoil, said on Monday.

News

Fortum Buys Stake in Wave Power Startup

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed

Gazprom Neft Starts Oil Production, Shipments from Iraqi Badra Field

Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom ,

Statoil Says Normal Operations at In Amenas Gas Plant Resuming

Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by Islamist militants killed forty employees, one of the plant's operators, Statoil, said on Monday.

Marine Science

VIKING Saatsea Puts Crew Training in its Place

VIKING Saatsea will be at SMM 2014 to showcase the revolution it has brought about in crew training – moving everything on board to cut costs, speed up certification,

BMT WBM to Showcase TUFLOW at World Bank Seminar

BMT WBM ( (BMT), a subsidiary of BMT Group Ltd, a leading international engineering and risk management consultancy, is delighted to announce that it will be presenting

RWE Dea Helps Cleveland Juniors Reach Goals

Yesterday, a new club house for the Cleveland Juniors Football Club in Middlesbrough in northern England was officially opened. With support from RWE Dea, the

Electronics

BCG Releases PCVM Emulation

Buffalo Computer Graphics (BCG) Inc. announced the addition of another emulation product to its family of Radar Simulators. BCG has completed an emulation of the VisionMaster FT radar – our PCVM.

Telemar to Supply Broadband for Herm. Dauelsberg

Telemar GmbH, the German subsidiary of the Telemar Group, closed an agreement with Herm. Dauelsberg for the supply of a complete “turn-key solution” for their fleet of 18 vessels.

MN 100: gplink

1500 Sensation Weigh Beaufort, NC 28516 Tel: (252) 504-2640    Email: dwebb@gplink.com Website: www.gplink.com President & CEO: Greg Poole, III The Company: gplink

Software Solutions

Info-X Invests in $5m Headquarter Expansion

Transportation solutions provider capitalizes on outsourcing trend Info-X Software Technology, provider of software solutions and back-office support to U.S.

Thor Offshore to Implement BASSnet Suite

Thor Offshore, an offshore support services provider and fisheries company, has chosen the integrated software suite BASSnet Fleet Management Systems as a part

WR Nominated for International Seatrade Insider Cruise Award

WR Systems has been shortlisted for the Environmental Initiative Award. Judged by an independent panel of experienced cruise industry specialists, the Seatrade

Offshore Energy

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

Drydocks World to Participate in SMM 2014

Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding,

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2383 sec (4 req/sec)