TGS Ups Profit

Geophysical contractor TGS has posted fourth-quarter 2017 net profit of $55 million, compared to profit of $29 million in the same period in 2016.

This comes down to quarterly earnings per share (fully diluted) of $0.53, against $0.29 profit per share same time last year.

The Oslo-listed firm generated revenues of $157 million in Q4 2017, compared to $165 million in Q4 2016. Full year 2017 net revenues were $492 million, up 8% from $456 million in 2016.

Operating profit for the quarter (EBIT) was $52 million compared to $42 million in the prior-year comparable quarter.

TGS reported backlog was $82 million at the end of the fourth quarter 2017, up 60 percent from the corresponding period in 2016, and 60 percent up sequentially.

Full-year earnings per share (fully diluted) were 73 cents, up from 28 cents in 2016.

Quarterly dividend increased to 20 cents per share.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >