Thalassa Expects Fiscal Year Revenue To Exceed $1.3M Vs Earlier Estimate Of $1 Million
October 13 2011 - 11:19AM
Dow Jones News
Thalassa Holdings Limited (THAL.LN), a holding company with a
focus on Marine Seismic operations, Thursday said revenue from
operations for the full year 2011 is now expected to exceed $1.3
million versus the figure of $1 million previously announced, and
added that it is not aware of any reasons for the recent sharp
decline in the company's share price, which has occurred on
extremely low trading volumes of the company's shares.
MAIN FACTS:
-Board believes that the company's outlook is extremely
positive.
-Net Income for the full year 2011 is expected to exceed
$210,000 versus $145,000 previously announced.
-Operating profits before depreciation for the full year 2011
are expected to exceed $560,000 versus $400,000 indicated in the
company's September announcement.
-North Sea seismic contract with BP (BP.LN) continues to provide
clarity of revenue stream over the next two years.
-Third Life of Field Seismic survey over the Valhall field in
the North Sea has now successfully been completed.
-Recent deployment of components of the company's Portable
Modular Source System (PMSS) for ION Geophysical Corporation (IO)
in the Arctic has been completed and it is anticipated that, when
final figures are agreed, it will generate higher revenue and
operating profit than originally budgeted and may also lead to
repeat business.
-Board has identified a significant acquisition opportunity
which it believes would materially enhance Thalassa's operational
capabilities.
-Company is currently in advanced negotiations and, whilst the
outcome is not guaranteed, the Board expects to announce full
details before the end of the year.
-Shares at 1446 GMT flat at 19.75 pence.
-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448,
tapan.panchal@dowjones.com
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Mar 2024 to Apr 2024
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Apr 2023 to Apr 2024