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Monday, 08 September, 2008, 17:50 GMT | more prices >>

SeaBird rakes in higher earnings



By Upstream staff 

Norwegian seismic company SeaBird Group reported today third-quarter consolidated revenues of $20.3 million, an increase of 101% compared to the same period in 2006.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $3.7 million for the quarter, compared to $4 million for the third quarter of 2006.

SeaBird said its quarterly results from operations were below target for a variety of reasons, including the docking of the Osprey Explorer vessel for upgrades.

Meanwhile, the Geo Mariner vessel had no production in the third quarter, while the Raven Explorer was sold during the quarter at a loss of around $1 million.


Tuesday, 20 November, 2007, 07:18 GMT  | last updated: Tuesday, 20 November, 2007, 07:59 GMT

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