Electromagnetic Geoservices ASA reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's total operating revenues were USD 31.7 million compared with USD 55.6 million a year ago. Operating loss was USD 6.1 million compared with operating profit of USD 11.7 million a year ago. Loss before income taxes was USD 1.2 million compared with profit before income taxes of USD 8.9 million a year ago. Loss for the period was USD 2.5 million or USD 0.01 per share compared with profit of USD 6.97 million or USD 0.04 per share a year ago. Net cash flow from operating activities was USD 15.7 million compared with net cash flow used in operating activities of USD 4.6 million a year ago. Purchases of property, plant and equipment was USD 4.9 million compared with USD 4.3 million a year ago. EBITDA was USD 1.3 million compared with USD 16.1 million a year ago. Adjusted EBITDA was negative at USD 7.1 million compared with adjusted EBITDA of USD 11.9 million a year ago. The company reiterated earnings guidance for the year 2013. The company expects to deliver 2013 revenues in the range USD 210 million to USD 230 million, an EBITDA margin in the range 25% to 30%.

Electromagnetic Geoservices ASA has signed a data licensing agreement worth USD 6.4 million for the provision of 3D controlled-source electromagnetic (CSEM) and magnetotelluric (MT) data from EMGS's multi-client data library in the Norwegian Sea. These revenues will be recognized in the second quarter of 2013.

Electromagnetic Geoservices ASA announced consolidated and parent earnings results for the full year ended December 31, 2012. For the year on consolidated basis, the company reported total operating revenues of $200,831,000 against $172,414,000 a year ago. Operating profit was $29,224,000 against $25,139,000 a year ago. Income before income tax was $17,942,000 against $17,966,000 a year ago. Net income was $11,895,000 against $10,153,000 a year ago. Diluted income per share was $0.06 against $0.05 a year ago. Net cash flow from operating activities was $28,737,000 against $23,557,000 a year ago. Purchases of property, plant and equipment was $21,171,000 against $3,226,000 a year ago. Purchases of intangible assets were $263,000 against $6,000 a year ago. Earnings before interest, tax, depreciation and amortization for 2012 improved significantly over 2011, from $41.8 million to $55.9 million. On parent basis, the company reported total operating revenues of $981,340,000 against $762,649,000 a year ago. Operating income was $66,816,000 against operating loss of $12,649,000 a year ago. Income before tax was $110,845,000 against loss before tax of $34,163,000 a year ago. Net income was $110,387,000 against net loss of $34,338,000 a year ago. Net cash flow from investing activities was $133,762,000 against $119,256,000 a year ago. Purchase of property, plant and equipment was $201,473,000 against $105,238,000 a year ago.