TGS reports net revenues of USD 136 million in Q2 2011, compared to USD 112 million in Q2 2010. Investments and the corresponding pre-funding revenues were significantly lower in Q2 2011 than in Q2 2010 due to the expected back end loaded investment plan, as previously communicated to the market. Despite lower investments, TGS reports late sales of USD 98.0 million which is up 52% from Q2 2010.
2nd QUARTER HIGHLIGHTS
6 MONTHS FINANCIAL HIGHLIGHTS
“ Another strong quarter with revenue growth of 21% from last year, ” TGS’ CEO Robert Hobbs stated. “ We continue to see great demand for our existing library data and all business areas experienced growth in late sales compared to one year ago. We maintain our guidance for 2011.”
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Source: TGS, August 4, 2011;