| Summary Q1-2014 | |||||
| SPECTRUM GROUP | |||||
| Quarter | Quarter | 12 months | |||
| ended | ended | ended | |||
| 31.03.14 | 31.03.13 | 31.12.13 | |||
| (USD 1000) | (Unaudited) | (Unaudited) | (Audited) | ||
| Gross operating revenue | 52 270 | 65 316 | 162 001 | ||
| Net operating revenue | 38 001 | 60 071 | 143 023 | ||
| EBIT | 8 500 | 28 301 | 41 641 | ||
| Net Profit / (Loss) | 5 958 | 6 833 | 29 155 | ||
| Cash flow from operating activities | 33 414 | 16 272 | 78 571 | ||
| Investment in Multi-Client library | 17 709 | 19 578 | 85 200 | ||
| Multi-Client library Net book value | 110 604 | 86 289 | 112 400 | ||
| Cash and cash equivalents | 17 369 | 12 127 | 2 719 | ||
Q1 Highlights
- Gross Multi-Client sales in the quarter totalled MUSD 51.6 (2013:MUSD 64.9)
- Revenue share on Multi-Client sales was 27.7% compared to 8.1% in Q1 2013, giving Multi-Client net revenue of MUSD 37.3 (2013:MUSD 59.7)
- Gross Multi-Client revenue were comprised of late sales of MUSD 16.0 (2013: MUSD 54.3) and prefunding on Multi-Client investments of MUSD 35.6 (2013: MUSD 10.7)
- Net Multi-Client revenue were comprised of late sales of MUSD 11.3 (2013: MUSD 49.0) and prefunding on Multi-Client investments of MUSD 26.0 (2013: MUSD 10.7)
- EBIT for the quarter was MUSD 8.5 (2013: MUSD 28.3)
- Multi-Client investments were MUSD 17.7 with 147% prefunding based on costs incurred vs net pre-sales (2013:MUSD 19.6 with 54% prefunding)
- Operational cash flow in Q1 of MUSD 33.4 (2013: MUSD 16.3)
