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Archer Ltd Comments on Q3 2012 Revenue and EBITDA Guidance


Sunday, 25 Nov 2012 05:00pm EST 

Archer Ltd (Archer) announced that the Company expects its third quarter (Q3) fiscal year 2012 results to include a non-cash impairment charge of around USD 338 million out of which USD 207 million pertains to goodwill and USD 131 million to several other assets. The Company expects its Q3 fiscal year 2012 revenue to decline approximately 3% compared with Q2 fiscal year 2012. EBITDA for Q3 fiscal year 2012 is estimated at around USD 53 million, including provisions of USD 9 million related to long standing labor disputes and other items arising predominantly from Allis-Chalmers, one of the predecessor companies of Archer. In Q2 fiscal year 2012, the Company reported revenue of USD 555 million and EBITDA of USD 70.90 million. 

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