Archer Limited : First Quarter 2016 Results

Hamilton, Bermuda (April 29, 2016)

First Quarter 2016 highlights

  • First Quarter revenue from continuing operations was $229.2 million
  • First Quarter EBITDA from continuing operations of $19.9 million including $8.7 million of restructuring costs
  • Net loss for the Quarter of $27.8 million
  • First Quarter operating cash flow of $ 6.4 million
  • Net interest-bearing debt of $809.0 million at March 31, 2016
  • Business was realigned into two reporting segments; Eastern Hemisphere and Western Hemisphere

In connection with the earnings release, a conference call will be held at 7:00 Houston time, 13:00 London time, 14:00 Oslo time on Friday, April 29, 2016.

For information on how to attend the webcast, detailed information is found on our webpage;

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
First Quarter 2016 Results

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Archer Limited via GlobeNewswire