Geophysical firm CGGVeritas or CGG (CGV) posted Group net profit of $79.1 million, or $0.43 per share in the first quarter, as against a $3.5 million, or $0.05 per share loss a year before. After minority interests, net income attributable to the owners of CGG was a gain of $77 million, the company noted.
Three-month Group revenue amounted to $871 million, up 11% from the year-ago quarter's $787 million.
Further, the firm confirmed its objectives for 2013 of 25% growth in Group revenue, an improvement in its EBIT margin, generation of positive free cash flow and an increasing return on capital employed.
At the end of March, the backlog was $1.4 billion, up 11% compared with the backlog of CGG stand alone at the December end, including the order book of the Fugro Geosciences businesses and excluding the backlog of the Shallow Water/Ocean Bottom Cables business.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.