CORRECTION: Spectrum ASA: Q4 2016 Financial Update
January 09 2017 - 3:06AM
This is
a correction of the announcement from 09:02 09.01.2017 CET. Reason
for the correction:
Oslo, Norway, January 9(th)
2017.
Based on preliminary figures for Q4 2016, Management expects to
report Net Revenues of approximately USD 31million for the quarter
(USD 42 million in Q4 2015). In addition Spectrum will recognize
2016 tax credits in Brazil as "other revenue" in Q4 2016. The basis
for this "other revenue" recognition is the same as the "other
revenue" Spectrum booked in Q3 2016 for the period 2011-1015. These
tax credits will be used to partially offset Spectrum's tax
payments in Brazil going forward.
In addition, Spectrum has obtained a waiver for
the NIBD/EBITDA - MC capex covenant for Q4 2016.
For further information, please contact:
Henning Olset, CFO
Mobile: +47 92 26 69 48
E-mail: henning.olset@spectrumasa.com
Rune Eng, CEO
Mobile: +47 91 57 08 45
E-mail: rune.eng@spectrumasa.com
This information is subject of the disclosure requirements acc. to
§5-12 vphl
(Norwegian Securities Trading Act)
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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: Spectrum ASA via Globenewswire
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