CGG Q2 Earnings Rise - Quick Facts

(RTTNews) - CGG (CGG), Thursday reported an increase in second-quarter earnings before financial result and taxes or EBIT, reflecting higher revenues.

For the three-month period, the company reported EBIT of $117 million, compared with $95.5 million during the same quarter last year.

Not including a $11 million negative non-recurring impact, EBIT for the second quarter was $128 million.

Net income was reported at $36 million compared with $34 million a year ago.

For the three-month period, CGG reported Group Revenue of $1.03 billion compared with $831 billion during the same quarter last year. Backlog at the end of June stood at $1.3 billion, the company said in a statement.

Capital expenditures including capitalized development costs of $13.7 million were $158 million for the quarter ended June 30, compared with $213.2 million last year.

"Looking forward to the end of 2013 and 2014, we remain confident about exploration & production spending levels of our clients," Jean-Georges Malcor, chief executive said.