CGG Posts Loss In Q3, Revenue Declines - Quick Facts

(RTTNews) - France-based geoscience company CGG (CGG) Thursday reported a net loss of $116.0 million for the third quarter, compared to profit of $3.9 million last year.

Diluted loss per share were 0.67 euro, compared to earnings per share of 0.01 euro last year.

Operating revenues decreased to $693.9 million from $908.0 million in the prior year.

The firm said its transformation plan is on track.

CGG CEO, Jean-Georges Malcor, said, "Our third quarter results, before non-recurring elements, are growing sequentially thanks to a solid GGR margin, Sercel's resilience and our Acquisition activity breaking-even."