| Summary Q1 | | | (USD 1000) | | Quarter | 12 months | | | | ended | ended | ended | | | | 31.03.12 | 31.03.11 | 31.12.11 | | | | (unaudited) | (unaudited) | (audited) | | | | | | | | | Revenue | 36,935 | 4,639 | 81,245 | | | | | | | | | EBITDA | 16,787 | 147 | 33,915 | | | % EBITDA | 45% | 3% | 42% | | | | | | | | | EBITDA (adjusted)* | 19,115 | 147 | 35,367 | | | % EBITDA | 52% | 3% | 44% | | | | | | | | | EBIT | 5,233 | (983) | 14,702 | | | EBIT(adjusted)* | 7,561 | (983) | 16,154 | | | | | | | | | Net profit | (954) | (2,613) | 12,989 | | | Net profit (adjusted)** | 5,116 | (2,613) | 16,151 | | | | | | | | | Cash flow from operating activities | 26,921 | 967 | 16,337 | | | | | | | | | Investment in Multi Client Libraries | 16,943 | 1,353 | 54,164 | | | | | | | | | Cash and cash equivalents | 16,686 | 7,378 | 5,953 | | | | | | | | | * EBITDA/EBIT ex MUSD 2.3 (0 in Q1 2011, MUSD 1.4 in 12 months ended 2011) related to changes in | | market value of employee options program. | | | | | | | ** Net profit ex MUSD 2.3 (0 in Q1 2011, MUSD 1.4 in 12 months ended 2011) related to changes in | | market value of employee options program and MUSD 3.7 (0 in Q1 2011, MUSD 1.7 in 12 months | | ended 2011) related to change in MTM value of conversion right for the convertible loan. |
|
Highlights |
Multi Client revenue in quarter was MUSD 35.7 (MUSD 3.3)
MC Early Sales of MUSD 11,1 (MUSD 1.3)
MC Late Sales of MUSD 24.6 (MUSD 2.0)
Organic investment (MC Capex) of MUSD 16.9 (MUSD 1.4) in new Multi Client libraries. Organic investment will increase substantially in 2012 with the acquisition operations in West Africa and Brazil among others.
Spectrum guides MC 2D investments in 2012 to be approximately MUSD 70
Operational cash flow in Q1 of MUSD 26.9 (MUSD 1.0)
Reported EBIT of MUSD 5.2 impacted negatively by a MUSD 2.3 change in market value of outstanding options to employees. ex. the employee option cost EBIT was MUSD 7.561 |
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
