Spectrum ASA: 2nd Quarter 2018 Financial Results Â
Post# of 301275
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Summary Q2 and 6 months -18 (segment reporting using APMs) | |||||||
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 |  |  |  SPECTRUM GROUP | ||||
 |  |  |  Quarter |  Quarter |  6 months |  6 months |  12 Months |
 |  |  |  ended |  ended |  ended |  ended |  ended |
 |  |  | 30.06.18 | 30.06.17 | 30.06.18 | 30.06.17 | 31.12.17 |
 (USD 1000) |  |  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) |
 |  |  |  |  |  |  |  |
Segment revenue | Â | Â | Â 23 462 | Â 30 403 | Â 50 373 | Â 55 727 | Â 118 850 |
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Segment EBIT | Â | Â | (1 969) | (619) | (2 637) | (3 326) | (16 037) |
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Segment Net Profit / (Loss) | Â | Â | (4 416) | (2 983) | (581) | (6 703) | (26 843) |
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Cash flow from operating activities | Â | Â 22 653 | Â 24 774 | Â 53 273 | Â 60 334 | Â 99 400 | |
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Investment in Multi-Client library | Â | Â | Â 15 563 | Â 31 331 | Â 37 799 | Â 58 611 | Â 82 359 |
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Segment Multi-Client Net book value | Â 173 315 | Â 205 105 | Â 173 315 | Â 205 105 | Â 169 408 | ||
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Cash and cash equivalents |  |  |  26 710 |  6 859 |  26 710 |  6 859 |  14 155 |
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Q2 Highlights
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- Late sales in the quarter of MUSD 14.1 (2017: MUSD 8.2) - Â Segment early sale on Multi-Client investments in the quarter was MUSD 9.3 (2017: MUSD 22.2), primarily related to the Mozambique, Argentina and Otway surveys - Â Multi-Client investments were MUSD 15.6 with 60% prefunding rate (2017: MUSD 31.3 with 71% prefunding) - Gross Multi-Client investments were MUSD 30.4 (2017: MUSD 39.8) - Operational cash flow in Q2 was MUSD 22.7 (2017: MUSD 24.8)
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6 Months Highlights
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- Late sales YTD of MUSD 27.2 (2017: MUSD 18.1) - Segment early sale on Multi-Client investments was MUSD 23.1 (2017: MUSD 37.5), substantial part related to Mozambique, Argentina and Otway surveys -  Multi-Client investments were MUSD 37.8 with 61% prefunding rate (2017: MUSD 58.6 with 64% prefunding) - Gross Multi-Client investments were MUSD 81.6 (2017: MUSD 75.8) - Operational cash flow was MUSD 53.3 (2017: MUSD 60.3)
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This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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