SERVICE SECTOR / Veritas DGC Inc. Preliminary Earnings Report
VERITAS DGC INC. ANNOUNCES PRELIMINARY OUTLOOK FOR 1998
FISCAL THIRD QUARTER
1998-04-24
HOUSTON, TX
Veritas DGC Inc. (the "Company") announced today that it expects to report
earnings of $.65 to $.70 per share, on a fully diluted basis, for its 1998
fiscal year third quarter ended April 30th, exceeding analyst consensus
estimates. The Company said the higher earnings it expects to report are due
primarily to the impact of high margin data library sales, although generally
all service groups are demonstrating strong performance. Veritas reported
earnings of $.32 per share for the same quarter a year ago.
The Company will release its financial and operating results for its third
quarter on Thursday, May 28th after close of the Market. The Company will
have its customary telephone conference call to discuss the results at 11:00
a.m. Eastern Standard Time (EST), on Friday, May 29th. The Company
representatives hosting the call are Larry Fichtner, Executive Vice President
of Corporate Communications and Tony Tripodo, Executive Vice President, Chief
Financial Officer and Treasurer. Participants will have the opportunity to
ask questions following a brief presentation by the Company. The dial-in
number to participate in the conference call is 800-683-1535. Should you have
difficulty with the aforementioned "800" number, please phone 973-628-6885 to
be connected toll free.
A digital replay will be available at the conclusion of the call until 6:00
p.m. EST, Friday, June 5th. Interested persons can call 888-284-4561 or
402-220-4833.
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 concerning, among other
things, the Company's prospects and development for its operations, all of
which are subject to certain risks, uncertainties and assumptions. These
risks and assumptions, which are more fully described in reports filed with
the Securities and Exchange Commission, include changes in market conditions
in the oil and gas industry, as well as, declines in prices of oil and gas.
Should one or more of these risks or uncertainties materialize, or should the
assumptions prove incorrect, actual results may vary in material respect from
those currently anticipated.
Veritas DGC Inc. is a leading provider of land, transition zone and
marine-based seismic data acquisition, seismic data processing, and
multi-client data sales to the petroleum industry in selected markets
worldwide. |
