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

People & Company News

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

CMA CGM to Resume Service to Iran

The world's third-largest container shipping group, France's CMA CGM, said on Monday it would resume operations to Iran following the deal between Tehran and world

Obituary: Yacht Designer Jörg Beiderbeck

Jörg Beiderbeck, recognized as a figure among the world’s top megayacht designers, has passed away at the age of 69 on the evening of Sunday, August 2, at his home in Bremen-Vegesack,

Barges

Tug-Barge Design Optimized for South America

Some veteran Mississippi pushboats and barges have been transported to South America for second careers. However, conditions on a great river like the Paraguay-Paraná are different.

WGMA Urges Participation in Menhaden Survey

The West Gulf Maritime Association (WGMA) is urging its members with ships arriving at any port in the western US Gulf to participate in the Menhaden survey.

Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.3033 sec (3 req/sec)