Archer Limited: Fourth Quarter 2019 Earnings Release and Financial Outlook 2020
Hamilton, Bermuda (February 14, 2020) Archer increased the 2019 fourth quarter revenue to NOK 239.7 million, an increase of 3 percent compared with the fourth quarter 2018, and delivered the best full year EBIT earnings since 2010. Fourth quarter highlights 2019 · Revenue of $239.7 million · EBITDA pre-exceptional items of $27.5 million · EBIT of $8.3 million · Net interest bearing debt reduced by $25 million to $582 million · Positive net income of $3.9 million · Significant backlog to support activity growth in 2020 Kjell-Erik Østdahl, Executive Chairman of