Normalised profit was flat at NOK69.7m compared to 2012's NOK69.2m, while operating income for the quarter, NOK230.1m, represents an increase of 10% over the same period in 2012,
The company has a contract backlog of NOK3.1bn, with an average contract duration of 2.5 years. Contract coverage for Q3 was 96%, identical to last year, and for the final quarter of this year the company has 100% coverage, with 80% already in place for 2014 and 48% for 2015, all excluding optional extensions.
At the end of the quarter, the group had net liabilities of NOK753m, down from NOK 1.47bn on 30 September 2012.
In its outlook, the company did see more challenging times ahead, citing an increase in costs and dividend pressure at oil companies as a possible cause of a reduced oil investments.
"The seismic companies are dependent on new investments rather than maintenance of existing operation," it stated in its earnings release. "Thus, the reduced E&P growth affect the seismic companies relatively more than in other segments. A challenging market is expected throughout the winter. Despite positive prospects for the summer season, the major seismic companies have adjusted their guiding for 2014 downwards. The outlook in the seismic industry the following quarters seems to be worse now than at the end of the second quarter of 2013, but the long-term prospects seems to be positive."
"The activity in the subsea market is still good, and GC Rieber Shipping experienced high interest for its vessels in this segment. The oil companies' reduced investments also affect this market, but less than in the seismic market. The underlying prospects in the years to come are positive, despite a potential challenging winter season."
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