Q2 revenue was $473m (-31% yoy), below consensus. However EBIT (after non-recurrings) was in line with consensus expectations at -$14m (vs. -$199m in Q2 14). The net loss at -$61m (-$325m in Q2 14) was above consensus (-$75m). By division: 1) Equipment: revenue was $107m (-46% yoy). Marine sales suffered from the industry weakness, while Land sales were helped by the Middle East. OPINC was $7m (-83% yoy), a 6.3% margin (vs. 20% last year). 2) Data acquisition: revenue was $296m (-54% yoy). OP
31 Jul 2015
Q2 results: continuing pressure on Marine
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Q2 results: continuing pressure on Marine
Q2 revenue was $473m (-31% yoy), below consensus. However EBIT (after non-recurrings) was in line with consensus expectations at -$14m (vs. -$199m in Q2 14). The net loss at -$61m (-$325m in Q2 14) was above consensus (-$75m). By division: 1) Equipment: revenue was $107m (-46% yoy). Marine sales suffered from the industry weakness, while Land sales were helped by the Middle East. OPINC was $7m (-83% yoy), a 6.3% margin (vs. 20% last year). 2) Data acquisition: revenue was $296m (-54% yoy). OP