Archer Limited: First Quarter 2019 Earnings Release and changes to the Board of Directors
Hamilton, Bermuda (May 9, 2019) First quarter highlights 2019 · Revenue of $225.7 million · EBITDA of $25.0 million or 11.1% of revenue, an increase of 89% relative to the same period last year. · EBIT of $11.9 million or 5.3% of revenue, versus a loss in same period last year · Net Interest Bearing Debt further reduced to $581.3 million. Kjell-Erik Østdahl, Executive Chairman of Archer comments: “Archer continues to deliver strong operational and financial results. We see the positive trend from the second half of 2018 continuing with an increase in both our EBITDA