Oslo, Norway January 12th 2016. Based on preliminary figures for Q4 2015, Management expects to report Net Revenues of approximately USD 42 million for the quarter (USD 48 million in Q4 2014).
Spectrum will report a cash balance of USD 23 million and secured Net Interest Bearing Debt of approximately USD 34 million as of 31th December 2015.
Spectrum has also reassessed the carrying value of all individual surveys in the Multi Client library and expects to impair selected surveys by approximately USD 16 million in total. This will be recognized in the Q4 2015 financials.
Spectrum will report Q4 2015 financial results on the 12th of February 2016.
For further information please contact:
Henning Olset, CFO
Mobile: +47 92 26 69 48
E-mail: henning.olset@spectrumgeo.com
Rune Eng, CEO
Mobile: +47 91 57 08 45
E-mail: rune.eng@spectrumgeo.com
