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Reports First

NNS First Quarter EPS UP

Newport News Shipbuilding (NNS) reported net earnings of $21 million, or $.63 diluted share, for the first quarter of 2000. Earnings before interest and taxes (EBIT) for the quarter were $47 million, up from EBIT of $44 million in last year's first quarter. The company reported first quarter revenues of $469 million as compared to last year's figures of $430 million during the same period. This growth in revenue was attributable to gains in the construction and engineering segments. Construction revenues improved $25 million to $206 million as a result of advance planning work on the next aircraft carrier (CVN 77), as well as more activity on the Virginia-class submarine program. NNS finished a nine-month competition for the selection of the Warfare Systems Integrator for CVN 77 this past January. The expansion of the prime contractor role, which includes management of this process - previously performed by the Navy - the company will add approximately $500 million to the value of the construction contract.


Diamond Offshore's Profits Are Strong

Diamond Offshore Drilling Inc., a Houston-based marine oil and gas drilling contractor, on Tuesday reported a 24.7 percent rise in net profits, boosted by strength in all the company's business. The company posted first-quarter net income of $36.8 million, or $.27 a share, up from $29.5 million, or $.21 a share in the same period last year. Analysts on average were expecting the company to report first quarter earnings of $.23 a share.


CAE Reports First Quarter Results

CAE has reported earnings from continuing operations for the first quarter ending June 30, 2003, of C$15.1 million or 7 cents per share compared to C$37.4 million (or 17 cents per share) in the first quarter of the prior fiscal year. Consolidated revenue for the first quarter decreased 12 percent to C$242.9 million from the C$275.8 million generated in the prior year, while the C$2.2 billion backlog was constant at June 30 compared to March 31.


Brazil's OSX Group Q2 2012 Financial Report

OSX Shipbuilding reports order book for construction of 21 vessels of various kinds, consolidated position in other offshore enterprises EBITDA of R$36,5 million in 1H12 and R$2,7 billion financing are highlights for the second quarter of 2012. OSX, an EBX Group Company which provides solutions for the offshore oil industry by means of integrated operations in shipbuilding, leasing of exploration and production (E&P) units, and operation and maintenance (O&M)


ConocoPhillips Reports 1Q Results

ConocoPhillips reported first-quarter net income of $3,291 million, or $2.34 per share, compared to $2,912 million, or $2.05 per share, for the same quarter in 2005. Total revenues were $47.9b, versus $38.9 billion a year ago. During the quarter, the company reinvested 141 percent of its net income into the development of oil and gas resources and its global refining business, excluding the acquisition of Burlington Resources.


Boat Sales Up in Q1 Reports Marine Products Corp

Marine Products Corporation Reports First Quarter 2012 Financial Results Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish & Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo. For the quarter ended March 31, 2012, Marine Products generated net sales of $37,849


GulfMark Reports First Quarter Results and New Contract

GulfMark Offshore Inc.announced record net income for the first quarter of 2002 of $5.4 million, or $0.62 per share (diluted), on revenues of $29.8 million. This compares to net income of $2.6 million, or $0.31 per share (diluted), on revenues of $21.9 million in the first quarter of 2001. Bruce Streeter, president and COO of the Company, said, "We are very pleased with the results of the first quarter. Despite the usual seasonal slowdown and the lay-up of one of our smallest PSVs in the


Todd Shipyards Reports 2Q Results

Todd Shipyards Corporation announced financial results for the first quarter ended June 29, 2003. For the quarter, the Company reported a net loss of $2.2 million or $0.42 per diluted share on revenue of $21.1 million. For the prior year first quarter ended June 30, 2002, the Company reported net income of $2.3 million or $0.41 per diluted share on revenue of $49.3 million. The company's first quarter revenue of $21.1 million reflects a decrease of $28


OW Bunker Outlook Unchanged Despite Q1 Profit Drop

File image

 Danish ship fuel supplier OW Bunker kept its full-year outlook unchanged after reporting a 31 percent drop in first quarter pre-tax profits. "We expect to continue to develop the business, strengthen our market position and further gain market share, and based on current market conditions and outlook, we believe we can grow volume by approximately 10 percent compared to 2013," it said in a statement.


South Korean First Lady Urges Innovation

South Korea's first lady Kwon Yang-sook has stressed the need to enhance the country's industrial competitiveness through innovation, according to a recent Korea Times report. Kwon made the point in a speech at a ceremony at the Hyundai shipyard to launch a crude oil carrier, the Universal Queen, the first of its kind made with a shipbuilding fund. The fund was introduced in 2000 when President Roh Moo-hyun was maritime affairs and fishery minister and helped to increase orders for the


USCG Seeks Prankster who Made Fake Distress Calls

The U.S. Coast Guard (USCG) is working to track down a prankster who called in fake distress calls in Washington state that led agency officials to launch two rescue efforts that cost over $200,000, an official said on Thursday. The suspect made his first call over VHF radio on May 31


U.S. House: Chemical Safety Board in Disarray

The U.S. Chemical Safety Board is in disarray and has struggled to finish investigations into serious accidents at chemical plants and refineries that in one case killed seven people, according to a draft report by two Congressional committees.


Tankship Operators Frontline Warn of Restructuring

Photo courtesy of Frontline

Oil tanker firm Frontline reported first quarter earnings below expectations on Tuesday and said that unless markets improve, it may need to restructure to repay debt. Frontline, the tanker arm of shipping tycoon John Fredriksen, said it made a net loss of $12


Tankship Owner Torm Report Lower Q1 Earnings YoY

Image courtesy of Torm

Danish shipping company Torm reported first-quarter core earnings lower than in the same quarter last year and lowered its guidance for 2014. Earnings before interest, taxes, depreciation, and amortization (EBITDA) fell to $21 million from $36 million last year.


Boskalis Achieves Higher Revenue In Q1 2014

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  Royal Boskalis Westminster N.V. reported a higher revenue for the first quarter of 2014 compared to the same period last year. This was in line with company expectations. This achievement was the result of Good utilization of the Dredging and Offshore vessels


HII Logged US$2.2-Billion of New Business in Q1 2014

Photo courtesy of HII

Huntington Ingalls Industries (HII) has reported first quarter 2014 revenues of US$1.59-billion, up 2.0 percent compared to the same period last year. Selected details from the financial report as follows: Revenues were $1.59 billion for the first quarter of 2014


HII Reports Q1 Earnings Jump

Newport NEws works on the USS Abraham Lincoln’s (CVN 72) refueling and complex overhaul (Photo by John Whalen/HII)

Huntington Ingalls Industries (HII) reported first quarter 2014 revenues of $1.59 billion, up 2 percent compared to the same period last year. First quarter diluted earnings per share was $1.81, compared to diluted earnings per share of $0.87 in the same period of 2013


GLDD Reports Fairly Solid Q1 2014 Despite Weather

Dredger: Image courtesy of GLDD

The United States' largest dredging services provider, Great Lakes Dredge & Dock Corporation has reported its financial results for the quarter ended March 31, 2014, mentioning that its Rivers & Lakes and Environmental & Remediation sectors backlog was at a record level.


BP Reports Q1 Results; Increases Dividend

BP Group Chief Executive Bob Dudley

  BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8


Statoil Reports Robust Q1

Oseberg field centre - Photo Harald Pettersen - Statoil.

Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares.   Regarding new sanctions on Russia


Qatar's Nakilat Q1 Profit Rises 17 Pct

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  Qatar Gas Transport Co (Nakilat), the Middle East's largest shipper of liquefied natural gas, reported a 16.6 percent rise in first-quarter profit on Sunday. The firm made a profit of 206.3 million riyals ($56.66 million) in the three months to March 31


French Government Will Block Hasty Alstom Deal

France's Economy Minister Arnaud Montebourg confirmed for the first time on Sunday that both General Electric and Siemens were interested in engineering group Alstom and said he would not allow any hasty decisions.   In a statement, he said he first learned of GE's interest on Thursday and


Dry Bulk Carrier Newbuilding Orders Surge

Bulk carrier: File photo

Dry bulk carrier newbuilding orders predominate among the contracts reported in the latest issue of the Clarkson Hellas S&P Weekly Bulletin. Dry bulk carriers One order is reported by Clarkson Hellas in the larger dry sizes this week, with Foremost Maritime contracting two firm 180


IMB: Piracy Falls to Lowest Level since 2007

Pirate with AK47 web.jpg

The International Chamber of Commerce’s International Maritime Bureau (IMB) has revealed that piracy on the world’s seas is at its lowest first-quarter level since 2007, but warns that the threat is still present. The latest IMB Piracy Report, published today


NIS Q1 Net Profit Up 18 %

  Serbian oil company NIS , majority owned by Gazprom Neft, reported an 18 percent rise in net profit in the first quarter of 2014 on higher sales and improved production efficiency. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 15.5 billion dinars from 8






 
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