EBITDA grew at a faster pace to reach $369 million, up 51% compared to $244 million in Q3 2006. EBITDA margin was strong at 45% compared to 39% a year ago, driven by Sercel performance, better marine pricing and high onshore activity.
Operating profit was $157 million, up 50%, a 19% operating margin, including purchase price allocation (PPA) $17 million compared to $104 million including $9 million, a 17% operating margin, a year ago. Net iIncome was $94 million, up 100% compared to $47 million in Q3 2006.
Robert Brunck, chairman & CEO of CGGVeritas, said: I am pleased to report that into a very active seismic market CGGVeritas delivered its third consecutive solid quarter. The integration of the new group continues to progress well and our unique suite of capabilities and technology in wide-azimuth both in land and in marine is providing a step change in imaging for our clients. I am also very pleased to see the continued growth and the strong technological and industrial performance of Sercel.
