GulfMark 4Q Results Show 8% Decline

Friday, March 10, 2006
GulfMark Offshore Inc. announced results for the fourth quarter, reporting an 8% decline in earnings despite higher revenue. The Texas-based company reported that net income for the fourth quarter was $8.18 million or $0.39 per share, which declined from $8.90 million or $0.44 per share in the prior year quarter. On average, six analysts polled by First Call/Thomson Financial had estimated fourth quarter earnings of $0.45 per share. The fourth quarter results of the prior year included an income tax benefit of $4.8 million or $0.24 per share on release of deferred tax liabilities related to a tax audit. Income from continuing operations before tax for the quarter was $9.32 million, an increase from $4.08 million in the previous year quarter. Operating income for the period was $13.09 million, up 79% from $7.30 million in the year-ago quarter. Fourth quarter revenues were $51.59 million, an increase of 25% from $41.42 million in the year-ago quarter. Analysts had estimated revenues for the fourth quarter at $53.52 million. The increase in revenues was primarily due to increased day rates in all regions, improved vessel utilization, the addition of new vessels as well as the full year impact of the Highland Citadel purchased last year. Net income for the fiscal year 2005 was $38.39 million or $1.86 per share, a turnaround from net loss of $4.63 million or $0.23 per share in the previous year. Wall Street analysts had expected earnings of $1.91 per share for the year. (Source: Trading Markets)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Barges

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.1705 sec (6 req/sec)