IR news

Archer Limited : First Quarter 2012 Results

Hamilton, Bermuda (May 30, 2012)

First Quarter Highlights 

  • First quarter revenue of $546.3 million.
  • First quarter EBITDA of $67.2 million.
  • Net income for the quarter of $15.0 million.
  • First quarter operational cash flow of $19.7 million.
  • Net interest bearing debt at the end of the first quarter 2012 at $1,110.9 million.
  • Agreement reached with lenders to increase gearing ratio to 3.5 until the third quarter 2012.
  • Pressure pumping improvement program in North America on track.

In connection with the earnings release, a conference call will be held at 13:00 London time (14:00 Oslo time) on Wednesday May 30, 2012 by Fredrik Halvorsen, Christoph Bausch and Lars Bethuelsen.

For information on how to attend the conference call, information is found on our webpage

Questions should be directed to:

Fredrik Halvorsen, Chief Executive Officer and Deputy Chairman

Christoph Bausch, Chief Financial Officer

Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)