Hornbeck Offshore Announces Second Quarter 2007 Results

Thursday, August 02, 2007
Hornbeck Offshore Services, Inc. announced results for the second quarter ended June 30, 2007. Second quarter 2007 revenues were $75.1 million, up 6.2% from $70.7 million for the second quarter of 2006. Operating income was $33.9 million, or 45.1% of revenues, for the second quarter of 2007 compared to $32.7 million, or 46.3% of revenues, for the prior-year quarter. EBITDA for the second quarter of 2007 was $41.8 million compared to the Company's second quarter 2007 guidance range of $30.0 million to $35.0 million. Net income for the second quarter of 2007 was $22.6 million, or $0.85 per diluted share, compared to $20.3 million, or $0.73 per diluted share in the year-ago quarter. Included in net income for the second quarter of 2007 was approximately $5.8 million, or $0.22 per diluted share, of interest income, up from $3.6 million, or $0.13 per diluted share, in the second quarter of 2006. This increase in interest income was primarily driven by a higher cash position resulting from cash provided by operating activities and net proceeds raised during the Company's November 2006 convertible notes offering, and to a lesser extent, a higher average interest rate earned during the second quarter of 2007.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Wärtsilä to Power Two Indian Dredgers

Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The

MSC Jade Sails with MAN's Biggest Engine

The largest and most powerful engine from MAN Diesel & Turbo’s portfolio ever designed and built has entered service.   Built by Doosan Engine in Korea and rated at 75,

Terntank's first 15000DWT Chemical Tanker Passes Sea Trials

The first dual-fuel two-stroke engine employing the low-pressure X-DF gas admission technology developed by Winterthur Gas & Diesel (WinGD) has passed the final

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction 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: 0.0580 sec (17 req/sec)