Last 0.63 NOK
Change Today -0.02 / -3.08%
Volume 4.8M
PLCS On Other Exchanges
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As of 10:25 AM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

polarcus ltd (PLCS) Snapshot

Open
0.66 NOK
Previous Close
0.65 NOK
Day High
0.67 NOK
Day Low
0.62 NOK
52 Week High
04/2/14 - 4.78 NOK
52 Week Low
12/9/14 - 0.56 NOK
Market Cap
422.0M
Average Volume 10 Days
5.7M
EPS TTM
0.02 NOK
Shares Outstanding
669.8M
EX-Date
--
P/E TM
5.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for POLARCUS LTD (PLCS)

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polarcus ltd (PLCS) Details

Polarcus Limited, a marine geophysical company, through its subsidiaries, provides marine acquisition services primarily to multinational oil and gas companies worldwide. The company specializes in towed streamer data acquisition from pole-to-pole. Its contract services include conventional 3D surveys, broadband data acquisition, wide and multi-azimuth projects, and high density 4D production surveys; and multi-client project library services. The company operates a fleet of seven 3D seismic vessels. Polarcus Limited has collaboration arrangements with ION Geophysical Corporation to develop, execute, and market 3D multi-client seismic programs; and with Turkish Petroleum Corporation for seismic data acquisition, management, and crewing services for the vessel. The company was incorporated in 2007 and is based in Dubai, the United Arab Emirates.

500 Employees
Last Reported Date: 11/13/14
Founded in 2007

polarcus ltd (PLCS) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $732.0K
Chief Financial Officer
Total Annual Compensation: $482.0K
Head of Strategic Investments and Executive V...
Total Annual Compensation: $634.0K
Compensation as of Fiscal Year 2013.

polarcus ltd (PLCS) Key Developments

Polarcus Expands Multi-Client Footprint Offshore Guinea-Bissau

Polarcus Limited announced the expansion of the Company's multi-client data library offshore Guinea-Bissau. The recently announced dual well successes on trend to the north, offshore Senegal, have resulted in renewed industry interest in the Cretaceous slope fan and shelf-edge reef plays along the basin margin. Similar plays to the south in both the AGC & Guinea-Bissau have now been significantly de-risked for oil source but will still require the greater resolution inherent in 3D broadband seismic to fully understand the complex trapping and migration route configurations required for further drilling success. In response to this heightened industry interest Polarcus has secured further industry prefunding to acquire, in collaboration with Petroguin E.P., a new 3D multi-client survey offshore Guinea-Bissau, expanding the Company's 3D multi-client data library across the Mauritania-Senegal-Guinea-Bissau Basin (MSGB) in the AGC and Guinea-Bissau to over 8,300 square kilometers. The new high density RightBAND(TM) 3D survey of approximately 2,300 square kilometers will commence in Fourth Quarter 2014 utilizing a Polarcus A-Class seismic vessel and is expected to run for approximately 75 days. Final data products will be available mid-2015.

Polarcus Limited Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014

Polarcus Limited announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $114,339,000 against $133,657,000 a year ago. Operating profit was $12,174,000 against $35,687,000 a year ago. Loss before tax was $8,662,000 against profit of $19,926,000 a year ago. Net loss and total comprehensive loss was $8,878,000 or $0.018 per basic and diluted share attributable to the equity holders against net profit and comprehensive income of $19,926,000 or $0.018 per basic and diluted share attributable to the equity holders a year ago. Net cash flows from operating activities were $48,444,000 against $41,989,000 a year ago. Payments for property, plant and equipment was $13,756,000 against $20,247,000 a year ago. Payments to acquire intangible assets were $59,000 against $100,000 a year ago. EBITDA was $43,443,000 against $57,111,000 a year ago. Revenues decreased by 15% due to a decrease in contract revenue. The main reason for increase in net cash flow from operating activities was a positive change in working capital items in the third quarter 2014 compared to third quarter 2013. For the nine months, the company reported total revenue of $373,362,000 against $408,909,000 a year ago. Operating profit was $52,920,000 against $93,548,000 a year ago. Profit before tax was $1,509,000 against $36,065,000 a year ago. Net profit and total comprehensive income was $1,288,000 or $0.003 per basic and diluted share attributable to the equity holders against net profit and comprehensive income of $36,065,000 or $0.071 per basic and diluted share attributable to the equity holders a year ago. Net cash flows from operating activities were $149,970,000 against $169,474,000 a year ago. Payments for property, plant and equipment was $44,037,000 against $44,893,000 a year ago. Payments to acquire intangible assets were $261,000 against $226,000 a year ago. EBITDA was $133,006,000 against $161,113,000 a year ago. Net interest bearing debt was $609.1 million against $599.2 million a year ago. The Company expects to achieve full year EBITDA of approximately $140 to $150 million. Multi-client cash investments are expected to be approximately $50 million in 2014. The Company expects a prefunding level of 65%. Vessel related capital expenditure is expected to be approximately $50 million in 2014.

Polarcus Limited, Q3 2014 Earnings Call, Nov 13, 2014

Polarcus Limited, Q3 2014 Earnings Call, Nov 13, 2014

 

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Industry Analysis

PLCS

Industry Average

Valuation PLCS Industry Range
Price/Earnings 4.5x
Price/Sales 0.1x
Price/Book 0.1x
Price/Cash Flow 0.5x
TEV/Sales NM Not Meaningful
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