Archer Limited : Fourth quarter and preliminary 2016 results
Hamilton, Bermuda (February 28, 2016) Fourth quarter 2016 highlights · Archer has today 28th of February separately announced a comprehensive refinancing solution, which will significantly improve the balance sheet and provide sufficient liquidity to develop the business. The refinancing agreements are contingent on a minimum capital raise of $60 million. · Fourth quarter revenue was $221.4 million. · Fourth quarter underlying EBITDA was reported at $18.8 million, excluding restructuring cost of $4.8 million. · Fourth quarter cash generated from underlying