Dolphin Reports Improved Operating Margins
Seismic vessel operator Dolphin Group AS reported its financial results for the third quarter 2013. Atle Jacobsen, Dolphin Group CEO commented, "Dolphin delivered solid operating margins for third quarter with EBIT of 25%, driven by improved contract prices and high vessel efficiency. As for the entire seismic industry, Dolphin also experienced low Multi-Client late sales and a competitive market for new projects in the quarter. The seismic market has recently been challenging and will impact our Q4 2013 and Q1 2014.
Dolphin Group 1Q 2013 Results
• Encouraging organic growth in Dolphin processing, external contract revenues of $1.9 million for Q1 confirming market acceptance. Atle Jacobsen, Dolphin Group CEO, commented, “Dolphin continues to deliver solid earnings from a fleet, which is soon to be doubled in size. We experience improved market conditions ahead and Dolphin becomes an even more attractive service provider as major clients experience our efficient operations with modern high capacity vessels. Further Atle Jacobsen (CEO) and Erik Hokholt (CFO) will give a presentation of the quarterly results at Hotel Continental, Stortingsgaten 24-26, and Oslo at 9:30 a.m. (CET). The presentation is open to the public. The company’s full results and presentation can be viewed online here.
