The company reported group revenue of $873 million for the first quarter of 2008, a 12% increase, compared to $777 million for the same period of 2007.
For the first quarter of 2008, the company reported EBITDA of $343 million, compared to $339 million for the same period of 2007. Services revenue grew 16% to $647 million with a 21% operating margin.
Robert Brunck, chairman and CEO of CGGVeritas, said: I am pleased to report that CGGVeritas delivered robust results thanks to our unique and balanced portfolio as well as our leading technology. These results were achieved despite a less favorable currency environment as we operate in a dollar-denominated market.
Our longer term outlook for the seismic market continues to be healthy, driven by strong exploration and production fundamentals and the growing requirement for advanced seismic technology.
