CGGVeritas Nabs 2007 Revenue of $3.25 Billion, Up 30%
CGGVeritas reported its unaudited revenue for the fourth quarter 2007 of EUR604 million ($876 million) up 15% in euros and up 29% in dollars compared to pro-forma EUR523 million ($678 million) for the same period last year.
Activity during the fourth quarter was robust across all Services business lines and at Sercel. In Services, contract land and marine operations performed well and multi-client after-sales were strong.
Revenue for Services of EUR442 million ($641 million) was up 14% in euros and 27% in dollars.
Sercel external sales were at EUR161 million ($236 million) up 21% in euros and up 35% in dollars. Total revenue for Sercel of EUR176 million ($258 million) was down 7% in euros and up 6% in dollars.
2007 CGGVeritas revenue of EUR2.374 billion ($3.251 billion) was up 19% in euros and up 30% in dollars compared to pro-forma 2006 revenue of EUR1.990 billion ($2.500 billion).
2007 final consolidated results will be released February 28th 2008.
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