Horizon Offshore Reports 2001 Earnings

Tuesday, March 12, 2002
Horizon Offshore, Inc reported net income for the fiscal year ending December 31, 2001, of $10.7 million. This compares with a net income of $6.4 million diluted in 2000. Before recording an extraordinary charge of $0.6 million net of taxes, net income for the fiscal year ending December 31, 2001 was $11.3 million, or $0.49 per share diluted. For the three months ended December 31, 2001, Horizon reported net income of $0.4 million, or $0.02 per share diluted, on revenues of $73.8 million, compared with a net income of $1.4 million, or $0.07 per share diluted, on revenues of $51.8 million for the fourth quarter 2000. For the fiscal year ending December 31, 2001, gross profit was $35.0 million, or 12.9 percent on contract revenues. Contract revenues for 2001 were $272.2 million, 53 percent of which resulted from operations performed for Pemex in Mexico. This compares with gross profit of $24.4 million, or 15.2 percent on contract revenues of $160.5 million for 2000. For 2001, pre-tax net income was $16.1 million, and income tax expense was $4.8 million. For 2000, pre-tax net income was $7.9 million and income tax expense was $2.9 million.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Port Authority Salvage Ship Electronics 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: 0.1286 sec (8 req/sec)