Information on Cash Flow Indicators
Paris, 13th May 2011
CGGVeritas (ISIN: 0000120164 - NYSE: CGV) In the context of the recommendation issued by the AMF (Autorité des Marchés Financiers) on November 17th 2010, CGGVeritas would like to specify the definition and the mode of calculation of the Cash Flow used in its recent releases and particularly in the press release of May 4th 2011 related to the first quarter 2011 financial results.
Cash Flow from operations is “Net cash provided by operating activities“ as presented in the Unaudited interim consolidated statement of cash flows.
Net Free Cash Flow is Cash Flow from operations minus (i) “Total capital expenditures“ and “Investments in multi-client surveys“ presented in the “Investing” section of the Unaudited interim consolidated statement of cash flows, and (ii) “Financial expenses paid“ presented in the “Financing” section of the Unaudited interim consolidated statement of cash flows.
The mode of calculation of the Net Free Cash Flow is presented hereunder for the 4th Quarter 2010 and Full Year 2010, and for the 1st Quarter 2011 and 1st Quarter 2010:
About CGGVeritas
CGGVeritas (www.cggveritas.com) is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry.
CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).
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The information included herein contains certain forward-looking statements within the meaning of Section 27A of the securities act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. Actual results may vary materially.