IR news

Archer Limited : Third Quarter 2013 Results

Hamilton, Bermuda (November 28, 2013)

Third Quarter 2013 Highlights

  • Third quarter revenue from continuing operations of $522.6 million,
  • Third quarter EBITDA from continuing operations of $49.9 million including a one-time credit of $13.0 million.
  • Net loss for the quarter of $24.2 million
  • Third quarter operational cash flow of $14.3 million,
  • Net interest-bearing debt of $745.6 million at September 30, 2013.
  • Announced the sale of North American Underbalanced Assets to Atlas Copco.

In connection with the earnings release, a presentation will be held in Oslo, Norway by Archer CEO David King and CFO Christoph Bausch, at Swedbank First Securities, Filipstad Brygge 1, 8th floor, on Thursday November 28, 2013 at 9.30AM.

Questions should be directed to:
David King, Chief Executive Officer
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)