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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  ElectroMagnetic GeoServices ASA    EMGS   NO0010358484

ELECTROMAGNETIC GEOSERVICES ASA (EMGS)
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ElectroMagnetic GeoServices : EMGS reports multi-client revenue

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12/07/2018 | 03:30pm CET
Electromagnetic Geoservices ASA ("EMGS" or the "Company") has entered into multi-client licensing agreements related to its multi-client library in Norway.
These agreements represent combined revenues of approximately USD 4 million, whereof the majority of the revenue is related to late sales from the Company's existing multi-client library.

The Company expects to recognise these revenues in the fourth quarter of 2018.

Contact
Hege Veiseth, CFO, +47 992 16 743

About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.

EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Mexico City, Rio de Janeiro and Kuala Lumpur.

For more information, visit www.emgs.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: EMGS via GlobeNewswire

© InPublic, source European Press Releases

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Financials ($)
Sales 2018 48,5 M
EBIT 2018 -12,5 M
Net income 2018 -15,5 M
Debt 2018 32,0 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 2,30
EV / Sales 2018 1,12x
EV / Sales 2019 0,76x
Capitalization 22,3 M
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Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 0,24 $
Spread / Average Target 41%
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Managers
NameTitle
Bjørn Petter Lindhom Chief Executive Officer
Eystein Eriksrud Chairman
Hege A. Veiseth Chief Financial Officer
Jarkko Petteri Soininen Director
Johan Kristian Mikkelsen Director
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