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 July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

Harper Government Invests in Naufrage Harbor

The Honorable Gail Shea, Minister of Fisheries and Oceans, announced today an investment to improve safety and working conditions for fishermen at Naufrage Harbor, Prince Edward Island.

Strategic Marine’s Stock Program Full Power Ahead

Strategic Marine, the specialist shipbuilder and fabricator, has confirmed its stock program of personnel transport vessels is market-ready. “Our stock program

News

Pentalver Opens London Container Facility

U.K. inland container service operator Pentalver opened a new five-acre site at the U.K.’s newest deep sea container port, DP World London Gateway, the London Port Authority announced.

USCG’s New Cutter Pulls into Boston

The U.S. Coast Guard’s (USCG) latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3 ahead of her commissioning scheduled for August 8.

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

Marine Science

Climate Change Boosts Galapagos Penguin Population

New study finds shifting winds and ocean currents helped double endangered Galapagos Penguin population   Shifts in trade winds and ocean currents powered a resurgence

Renovated Research Vessel Sets Sail

French scientific research vessel completely renovated in life extension project. French research vessel Marion Dufresne II left Damen Shiprepair Dunkerque (part

VARD SeaQ Bridge gets Lilaas touch

‘Finger-grip’ vessel control offering precise tactile feedback may seem radical for those accustomed to conventional levers, but the combination is proving a

Electronics

Google Maps Goes Coastal with Unmanned Boat

A new high-tech unmanned vessel, launched with the help of Google, will use innovative technologies from the boatbuilding and mapping fields to map shorelines and

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

Korean Registry Okays Transas ECDIS

Transas, one of the world's leading providers of integrated navigation solutions, received ECDIS type-approval from the Korean Registry (Korea Marine Equipment Research Institute),

Offshore Energy

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

Strategic Marine: Stock Program Full Power Ahead

Strategic Marine confirmed its stock program of personnel transport vessels is market-ready.  “Our stock program currently incorporates two class leading designs

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

Seismic Vessel Tech

Polarcus Secures New Contract

Polarcus Limited sign a new contract with an unnamed client in terms of a marine 3D seismic project where Polarcus' Right Band technique used  for broadband data acquisition.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.2572 sec (4 req/sec)