ODIM raises its forecasts

ODIM has upped its revenue forecast for the year to NOK 2.2 billion after a record second quarter saw the company bringing in NOK 502.1 million.

A record order intake of NOK 969 million lead by a strong quarter for the seismic segment, put the order backlog at an all-time high of NOK 2,629 million by the end of quarter.

Odim said the strong result is mainly driven by the high level of activity in the offshore service sector which is expected to be maintained going forward.

“I am pleased with what we have accomplished in the second quarter, and due to the high level of activity we have decided to lift our revenue forecast for 2008 by 10% from NOK 2.0 billion to NOK 2.2 billion,” said CEO Jogeir Romestrand.

“In the second half of 2008 and beyond ODIM will have a strong focus on commercialization of deepwater solutions, improving the acquired entities and expanding our international network further. Asia will be a focus area,” he added.