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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers

Brazil Truck Strike Diminishes

Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a

Offshore

Ferguson Appoints Partner OPS-OES

Ferguson Group Singapore, a specialist in the provision of DNV 2.7-1 / EN12079 offshore containers, reefers, tanks, waste skips, baskets, accommodation and engineering

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1573 sec (6 req/sec)