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Polarcus

Markets

Polarcus turns tide with revenues boost

Polarcus has seen its revenues rise by 44% in its third quarter compared to its previous results this year. The company said its cash from operations had hit $55million, up from 74% in the second quarter of the year. The seismic player, which had previously been hit with a loss earlier in the year, said it had managed to deliver “significant” cost reductions as well as improve profitability. Polarcus said it was heading into the final part of the year with a 75% booked capacity for the next six months.

Markets

Polarcus sees revenues drop

Polarcus has seen revenues drop by a third since the second quarter last year to $91.7million. The seismic player said gross cost of sales was $61.6million, which was a decrease of 27% from the same time in 2014. Polarcus said the seismic market has remained “highly competitive” and the “outlook uncertain” but it had moved quickly earlier in the year to focus on its business fundamentals.