Spectrum ASA : Q2 2016 Financial Update

Oslo, Norway, July 12^th 2016.
Based on preliminary figures for Q2 2016, Management expects to report Net Revenues of approximately USD 14 million for the quarter (USD 35 million in Q2 2015).

Rune Eng comments:

"The revenue in Q2 was below our expectations.
Although the number of sales leads increased compared to the previous quarter, the selective and drawn-out procurement process in oil companies resulted in some late sales negotiations not being concluded this quarter. Early sales were reduced due to a lower investment level in the quarter. We expect sales revenue continues to be volatile.

Spectrum will report the 2nd quarter financial results on the 12^th of August 2016.

For further information please contact:

Rune Eng, CEO
Mobile: [phone]
E-mail: [e-mail]

Henning Olset, CFO
Mobile: [phone]
E-mail: [e-mail]

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Spectrum ASA via Globenewswire

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