Archer Limited : Fourth Quarter and Preliminary 2011 Results
Hamilton, Bermuda (February 29, 2012)
Fourth Quarter Highlights
- Fourth quarter revenue of $ 596.1 million
- Fourth quarter EBITDA of $ 82.0 million, including $ 5.2 million of exceptional income
- Charge for impairment of intangible assets and goodwill of $ 121.5 million
- Net loss for the quarter of $ 111.8 million
- Fourth quarter operational cash flow of $ 67.3 million
- Net interest bearing debt at the end of the fourth quarter 2011 at $ 1,048.8 million
- Restructured short term credit obligations into long term syndicated credit facility
- New Management and organization structure put in place
In connection with the earnings release, a conference call/webcast will be held at 1PM GMT (2PM CET) on Wednesday 29, 2012. For information on how to attend the webcast, detailed information is found on our webpage;
http://www.archerwell.com/page/48/webcast.htm
Questions should be directed to:
Fredrik Halvorsen, Chief Executive Officer and Deputy Chairman
Christoph Bausch, Chief Financial Officer
Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)