GlobalSantaFe Reports 4Q and Full Year Results

Wednesday, January 23, 2002
Houston-based worldwide drilling contractor GlobalSantaFe Corporation reported net income for the quarter ended Dec. 31, 2001, of $11.7 million, or $0.07 per diluted share, on revenues of $384 million, as compared to net income of $40.9 million, or $0.34 per diluted share, on revenues of $332 million for the same quarter in 2000. For the year ended Dec. 31, 2001, the company reported net income of $198.8 million, or $1.50 per diluted share, on revenues of $1.3 billion. This compares to net income of $113.9 million, or $0.95 per diluted share, on revenues of $1.0 billion for the year ended Dec. 31, 2000. Net income for the fourth quarter and the full year 2001 included two significant nonrecurring charges - a restructuring charge of $22.3 million ($14.5 million after tax) related to the Global Marine and Santa Fe International merger completed in November 2001, and a noncash charge of $47.2 million to reduce the company's deferred tax asset position. Full year 2001 net income was additionally impacted by a $35.1 million ($22.8 million after tax) gain on the sale of a special-purpose Arctic drilling unit during the second quarter. Exclusive of these special items, net income for the quarter was $73.4 million, or $0.43 per share, and for the full year 2001 it was $237.7 million, or $1.78 per diluted share.

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

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Education/Training

DMCA Showcases Local Maritime Leadership

Dubai Maritime City Authority (DMCA) showcased Dubai's global maritime leadership in the presence of a high-level delegation from City of Glasgow College who commended

Brexit: What Next for Shipping Markets?

For many in shipping, the Brexit was unexpected. Many believe that Brexit’s impact on the shipping industry will be more or less neutral.   The UK Chamber of

Donors Give $2.9 Mln to Train BC’s Future Shipbuilders

The Dennis & Phyllis Washington Foundation, in conjunction with Seaspan, announced today a multi-year, multimillion dollar investment in the future of British Columbia’s marine industrial sector.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair 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: 0.0699 sec (14 req/sec)