Investor news
Spectrum ASA publishes Q309 Earnings (2009-11-26T17:34:06 CET)
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Q3 2009 Summary |
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Q3 09 |
Q3 08 |
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Revenue |
US$8.08m |
US$14.10m |
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EBITDA |
US$3.26m |
US$0.45m |
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% EBITDA/Revenue |
40.3% |
3.19% |
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Cash flow from operating activities |
US$23.1m |
US$(0.6)m |
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Cash Balance |
US$11.5m |
US$4.6m |
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- US$5.67m (08: US$0.16m) investment in multi-client libraries during Q3
- Repair Issue of 982,027m shares raised US$0.3m (net of total costs of repair issue and private placement )
- Repaid Acquisition debt to Global Geo Services ASA of US$ 7.84m recognising a non-recurring gain of US$14.58m in July 09
- Provisional impairment charge of US$9.22m was made against goodwill and multi-client libraries ahead of the independant review during Q4
- Received Pre-funding stage payments of US$3.77m for Big Wave Phase 2
- Early Multi-client revenue of US$4.84m recognised helping Multi-client division record 81.9% of Group revenue
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YTD 2009 Summary |
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YTD 09 |
YTD 08 |
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Revenue |
US$33.45m |
US$14.10m |
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EBITDA |
US$8.19m |
US$0.45m |
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% EBITDA/Revenue |
24.5% |
3.19% |
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Cash flow from operating activities |
US$30.2m |
US$(6.84)m |
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Cash Balance |
US$11.5m |
US$4.6m |
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- US$8.73m investment in multi-client libraries during 09 increasing the 2D library by 35,000km - 17.5%
- Issued share capital increased to 19,088,479 shares raising US$7.96m (net of costs)
- GGS Atlantic completed outstanding obligations to GGS/Reliance Industries before mobilising to Gulf of Mexico
- Succesful completion of on-board data processing contracts during Q2
- Investment in tangible assets of US$1.0m together with redeployment of on-board processing hardware increases processing capacity significantly
- Headcount reduced by 16% since Dec 08
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For further information please contact Rhys Edwards, CFO on +44(0)1483 730201 or
rhys.edwards@spectrumasa.comQ3 09 SPU Earnings Release pdf
