GEODRILL REPORTS STRONG FOURTH QUARTER AND 2010 YEAR END FINANCIAL RESULTS

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[{"type":"text","content":"\n\n\n Mar. 14, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, March 14 /CNW/ Geodrill Limited ("Geodrill" or "the Company")\n (TSX: GEO), a leading West African based drilling company, reported its\n financial results for the three- and twelve-month periods ended\n December 31, 2010. All figures are reported in US dollars (US$), unless\n otherwise indicated. Geodrill's financial statements are prepared in\n accordance with IFRS.\n\n\nFinancial Highlights\n\n\n\n\n$ millions\n\n\n\nFor the three \nmonths ended\nDecember 31, 2010\n\n\n\nFor the twelve months\nended December 31\n\n\n\n\n(except earnings per share)\n\n\nQ4-10\n\n\n2010\n\n\n2009\n\n\n\n\nRevenue\n\n\n$11.6\n\n\n$45.1\n\n\n$25.6\n\n\n\n\nGross profit\n\n\n$8.8\n\n\n$22.4\n\n\n$10.3\n\n\n\n \n\nAs percentage of revenue\n\n\n76.1%\n\n\n49.7%\n\n\n40.1%\n\n\n\n\nComprehensive income (loss)\n\n\n($0.6) (2)\n\n\n$5.1\n\n\n$4.0\n\n\n\n\nEarnings per share - basic\n\n\n($0.01)\n\n\n$0.17\n\n\n$0.13\n\n\n\n\nCash flow from operating activities\n\n\n(not reported)\n\n\n$9.3\n\n\n$6.0\n\n\n\n\nEBITDA(1)\n\n\n(not reported)\n\n\n$14.3\n\n\n$8.3\n\n\n\n\nEBITDA margin(1)\n\n\n(not reported)\n\n\n31.7%\n\n\n32.2%\n\n\n\n\nNotes:\n\n\n\n\n(1)     \n\n\nPlease see "Non-IFRS Measures" below for additional discussion and an EBITDA reconciliation.\n\n\n\n\n(2)     \n\n\nThe comprehensive income were impacted significantly in the fourth\n q...

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