Spectrum ASA: Q3-17 Results
| Summary | |||||||
| SPECTRUM GROUP | |||||||
| Quarter | Quarter | 9 months | 9 months | 12 Months | |||
| ended | ended | ended | ended | ended | |||
| 30.09.17 | 30.09.16 | 30.09.17 | 30.09.16 | 31.12.16 | |||
| (USD 1000) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| Net operating revenue | 17 014 | 20 447* | 72 741 | 52 273* | 86 852** | ||
| EBIT | (5 827) | (2 478) | (9 153) | (19 097) | (19 048) | ||
| Net Profit / (Loss) | (5 909) | (3 985) | (12 612) | (22 807) | (20 283) | ||
| Cash flow from operating activities | 22 993 | 2 844 | 83 327 | 40 819 | 61 215 | ||
| Investment in Multi-Client library | 13 529 | 8 050 | 72 140 | 43 197 | 50 671 | ||
| Multi-Client library Net book value | 201 648 | 220 393 | 201 648 | 220 393 | 192 721 | ||
| Cash and cash equivalents | 10 670 | 14 882 | 10 670 | 14 882 | 15 827 | ||
* Includes other revenue related to tax credit in Brazil of MUSD 8.7 (*) and MUSD13.1 (**).
Q3-17 Highlights
- Late sales in the quarter of MUSD 7.6 (201 6 : MUSD 9.7 )
- Prefunding on Multi-Client investments in the quarter was MUSD 9.3 (2016 : MUSD 1.5 ) , primarily related to the Gabon and Argentina surveys.
- Multi-Client investments were MUSD 13.5 with 69% prefunding rate (2016 : MUSD 8.1 with 19% prefunding)
- Operational cash flow in Q3 was MUSD 23.0 (2016 : MUSD 2.8 )
9 months Highlights
- Late sales YTD of MUSD 25.7 (2016: MUSD 23.0 )
- Prefundin g on Multi-Client investments was MUSD 46.9 (2016: MUSD 16.2 ), substantial part related to the Gabon and Argentina surveys .
- Multi-Client investments were MUSD 72.1 with 65% prefunding rate (2016: MUSD 43.2 with 37 % prefunding)
- Operational cash flow was MUSD 83.3 (2016: MUSD 40.8 )
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