In the Friday report, the company posted revenues for the second quarter 2017 of $350 million, up 21% year-on-year and revenues of $290.2 million and up 40% sequentially. The company’s multi-client sales were boosted by Mexican and Brazilian licensing rounds.
On the other hand, the company’s net loss for the 2Q 2017 deepened to $170 million from a $79.2 million net loss in the prior-year quarter.
At the end of the quarter, CGG’s gross debt was $2.812 billion. Available cash was $315 million and group net debt was $2.497 billion.