Norwegian seismic vessel charterer TGS has made it back into the black in a stronger first quarter.
The company said net earnings were $1.56m, from a loss of $20.19m in 2016.
Revenue jumped 35% to $86m over the same period.
Its cash balance at 31 March was $248m, in addition to an undrawn $75m revolving credit facility.
"Despite the continued challenging market conditions, TGS delivered strong growth in late sales of 82% from Q1 2016," said CEO Kristian Johansen.
