CGG reports 3Q loss
Associated PressNovember 8, 2016
Comment
PARIS (AP) _ CGG SA (CGG) on Tuesday reported a loss of $87.4 million in its third quarter.
The Paris-based company said it had a loss of $3.95 per share.
The maker of geophysical equipment posted revenue of $264 million in the period.
CGG shares have fallen 71 percent since the beginning of the year. The stock has fallen 78 percent in the last 12 months.
People will be fired as projects come to completion and there are no new ones to replace them.
Let's listen to Shawn Mandes, "I won't lie to you. I know he's [Malcor's] just not right for you. And you can tell me if I'm off But I see it on your face. When you say that he's the one that you want And you're spending all your time In this wrong situation And anytime you want it to stop.
I know I can treat you better than he [Malcor] can".
Can you say death spiral ...
Malcor should go. He is useless.
stupid ceo pathetic culture.
What wasn't reported properly is that SIR business is weakening rapidly. One of the only parts of the company making money is now in dire trouble with no improvement in sight.
Malcor has been paid millions and millions of dollars to run this company into the ground.
The stock has lost 99.14% of it's value in less than a decade.
He's down to his last 0.86% of value and still continues to destroy any remaining value.
Really really sad to watch.