CGG 9-month Profit Rises - Quick Facts

(RTTNews) - CGG (CGG) reported that its nine-month net income to owners rose to $113.8 million, from $65.6 million, last year. Profit per share was $0.64, compared to $0.41, a year ago.

Income of consolidated companies before income taxes was $195.7 million, compared to $139.6 million, prior year.

Operating revenues rose to $2.81 billion, from $2.47 billion, last year.

CGG expects its 2013 Group revenue to be up 15%-17%. Group EBIT margin is expected increase between 12%-13%, year-over-year.

CGG CEO, Jean-Georges Malcor, said: "After a solid first half, which was better than expected, we are now seeing a tougher second half, due to a temporary weakness in demand for seismic equipment and softer contract marine market conditions."