2Q Results for GlobalSantaFe

Thursday, August 03, 2006
GlobalSantaFe Corporation reported net income for the quarter ended June 30, 2006, of $248.5m, or $1.01 per diluted share, on revenues of $773.4m. The results compare with net income of $85.1m, or $0.35 per diluted share, on revenues of $574.8m for the same quarter of 2005. During the second quarter of 2006, GlobalSantaFe recognized insurance recoveries totaling $66.4m. This amount includes a book gain of $63.7m, or $0.26 per diluted share, on two offshore drilling rigs, the GSF Adriatic VII and GSF High Island III, which were severely damaged during Hurricane Rita. Excluding this $63.7m gain, net income for the quarter was $184.8m, or $0.75 per diluted share. For the six months ended June 30, 2006, GlobalSantaFe reported net income of $411.4m, or $1.65 per diluted share, on revenues of $1.5b, compared with net income of $135.3m, or $0.56 per diluted share, on revenues of $1.1b for the corresponding six-month period of 2005. GlobalSantaFe continued to repurchase its ordinary shares during the second quarter under a $2b buyback program authorized by its board of directors on March 3. The company repurchased $515m of its shares through the close of the second quarter, including $131m purchased in March and $384m purchased during the second quarter.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

Offshore

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Two Hurt in Petrobras Platform Accident; Output Halted

Brazil's state-led oil company Petrobras was forced to stop output at its P-56 offshore oil production ship on Wednesday in the Marlim Sul field after an explosion

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1321 sec (8 req/sec)