Wavefield Inseis ASA announced unaudited 1st quarter results under IFRS in accordance with IAS 34.
1th Quarter Financial Highlights
Towed Marine & MC
"We have put behind us a difficult quarter, with results below our own expectations," Atle Jacobsen, Wavefield Inseis CEO, said. "The combination of factors contributing to the quarter results are seen as a "one off," and not as a result of changes in the market fundamentals, our targets, or the way we manage our business. Our view on the longer term outlook for the seismic market continues to be solid. The demand continues to be strong globally and we anticipate that the visibility will improve, as we grow to meet it.
"Despite operating in the shadow of the merger conflict since the autumn, the company is now back on track, performing and developing according to our initial stand alone strategy. It is always a challenge to rapidly expand a company whilst retaining the elements that make you successful – particularly a company's culture and service quality– we constantly increases our headcount – both crew and office staff, procure and support more equipment, develop new technologies, build vessels, and maintain a strong focus on daily operational performance. The reason we have managed to do all of this simultaneously, while still achieving a strong financial performance, is because as an organization, we are all pulling together in one direction, as a team. "
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