Highlights in the fourth quarter 2011 include record-high financial results:
- Total revenues at USD 57.8 million for the quarter
- EBITDA of USD 16.7 million
- Net Income of USD 12.3 million
- Multi-client basalt mapping survey in Norwegian Sea pre-funded by ExxonMobil
- Successful start-up of USD 90 million Petrobras contract
- European Patent Office ruled in favour of EMGS at final appeal level
- EMGS and Schlumberger announced EM industry deal
- Letter of Intent from Shell for 3D EM survey in Brunei
Subsequent important events:
- EMGS and Schlumberger signed cooperative agreement
- EM Leader mobilized for operations in Q1 2012
- New Barents Sea multi-client 3D EM campaign launched
"We are proud to present our best ever quarterly and annual financial performance, with revenues, EBITDA and Net Income at an all-time high," says Roar Bekker, EMGS chief executive officer. "As we mark EMGS's 10th anniversary, I would like to take the opportunity to thank the EMGS team, customers, shareholders and suppliers for their commitment and support during our first decade. Together, we have established a strong platform to further develop the company and the EM market over the next decade."
