Dolphin Marine's Latest Financial Results Better Than Expected

Dolphin Marine, suppliers of marine geophysical services, presents Q3 and first nine months of 2012 financial results

Highlights:

· Revenues of USD 61.2 million, compared to USD 43.0  
million in Q3 2011
· EBITDA of USD 28.9 million (47,2%), improved from  
USD  9.1  million in Q3 2011
· EBIT of USD 16.8 million (27,4%), compared to USD  
5.5 million in Q3 2011
· Net Income before tax of USD 16.4 million, compared  
with USD 3.9 million in Q3 2011 


· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway.

Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  
seismic services. High operational efficiency and  
fleet utilisation, improved contract pricing and  
strong Multi-Client sales from new projects, has  
generated better than expected third quarter revenues  
and profit." 



"From day one, Dolphin has emphasised the importance  
of building a strong internal geophysical and Multi- 
Client business competence. This strategy works.

Today our Multi-Client seismic model is being  
recognised by an increasing number new global clients  
and governmental authorities. By successfully  
initiating a senior unsecured bond loan of NOK 400  
million, Dolphin has strengthened its financial  
capabilities, secured the roll out of future strategy  
and increased its ability to compete in global  
markets."