Oslo, Norway, July 12th 2016.
Based on preliminary figures for Q2 2016, Management expects to report Net Revenues of approximately USD 14 million for the quarter (USD 35 million in Q2 2015).
Rune Eng comments:
"The revenue in Q2 was below our expectations.
Although the number of sales leads increased compared to the previous quarter, the selective and drawn-out procurement process in oil companies resulted in some late sales negotiations not being concluded this quarter. Early sales were reduced due to a lower investment level in the quarter. We expect sales revenue continues to be volatile.
Spectrum will report the 2nd quarter financial results on the 12th of August 2016.
For further information please contact:
Rune Eng, CEO
Mobile: +47 91 57 08 45
E-mail: rune.eng@spectrumgeo.com
Henning Olset, CFO
Mobile: +47 92 26 69 48
E-mail: henning.olset@spectrumgeo.com