GulfMark Offshore Reports 3Q Profit Surge

Thursday, November 02, 2006
According to the Houston Chronicle, GulfMark Offshore Inc., said stronger daily rates for its services and increased use of its fleet sent third-quarter profit up sharply. Net income more than tripled to $39.9 million, or $1.91 per share, from $13 million, or 63 cents per share, a year ago. The recent quarter included a 32-cent boost from the sale of a vessel. Excluding the sale, earnings would have been $1.59 per share. Revenue rose to $75.8 million from $53 million a year ago.

Rates for the company's vessels appreciated 45 percent for its North Sea based fleet, compared with the prior year, and rose 22 percent for its Southeast Asia-based fleet. Rates rose a more modest 5 percent for its Americas-based vessels.

Utilization of the company's vessels climbed above 95 percent for all regions during the quarter. Shares of the company added $2.87, or nearly 9 percent, to $35.93 in aftermarket activity, after closing down $1.47, or 4.3 percent, at $33.06 on the Nasdaq. Source: Houston Chronicle

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council.

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.2042 sec (5 req/sec)