Following recent cost-cutting, Paris, France-based Atos Origin issued its preliminary results that showed net debt on December 31 had fallen 39% since the start of the year to 270m euros ($337.5m). It said this was significantly lower than [the] target of 350m euros ($437.5m). As a result, the company said: We are comfortably able to finance our foreseeable operational needs and meet our short-term repayment obligations.
Atos Origin is in the final stages of acquiring the majority of SchlumbergerSema from oil field services giant Schlumberger for 1.29bn euros ($1.61bn). It said revenue for the operation for the year to December 31 was 2.37bn euros ($2.97bn) with an operating margin of 3.1%, although the operating margin for the fourth quarter was 4.7%.
This article is based on material originally published by ComputerWire
