CGG Reports 54% Jump in Operating Revenues for Year
CGGVeritas on Wednesday posted unaudited consolidated revenues for CGG in 2006 (prior to the Veritas merger) of EUR1,330 million ($1,670 million), an increase of 53% in euro terms and 54% in dollar terms compared to revenues of EUR870 million ($1,081 million) for 2005.
Commenting on these results, Chief Executive Officer Robert Brunck stated "In 2006, the revenues of the CGG group, prior to the merger with Veritas, increased as we expected by more than 50%, in a favorable market and thanks in particular to the successful integration of Exploration Resources and the success encountered by Sercel's new products. We thus confirm that we will meet our operating results objectives for 2006."
The audited financial results of CGG for 2006 will be published by CGGVeritas on March 8, 2007.
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