Source Pravda.Ru

61% Profit Fall Expected At PGS

The following is a summary of expectations for second-quarter earnings from Petroleum Geo Services ASA. The Norwegian oil-services company is the world's second-largest seismic surveyor of oil and gas reservoirs.

Expected Earnings PGS is expected to state that second-quarter profit fell by sixty one percent to $3.9 million, or 4 cents a share, from $10 million, or 10 cents a share, in the year-earlier period, according to the average forecast in a survey of 10 analysts by news service TDN Finans. Sales probably rose 13 percent to $290 million.

PGS plans to release its earnings report before the US markets open on Wednesday, July 31st. It has scheduled a conference call for 9:30 a.m. Eastern time that day. Behind the Numbers

The twelve year old company has said that it is expecting to earn up to 35 cents a share from operations this year, and about 60 cents a share next year.

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