Stolt Offshore Anticipates Fourth Quarter Results

Thursday, January 17, 2002
Stolt Offshore S.A. announced that it expects recurring earnings for the fourth quarter of 2001 to be below previous guidance. A small loss for the quarter is expected due to delays in settling project variation orders and claims on the Girassol and Gulfstream projects. In addition, the Company will be writing off certain intangible assets relating to the Comex name, of $8 million, in the fourth quarter of 2001. The Company anticipates that earnings for the full year of 2002 will be between $0.35 and $0.70 per share with the first quarter earnings at a loss of $0.10 to $0.15 per share. There are currently a number of variables that will influence these results, including outstanding variation orders, which will be explained in detail on the year end financial results conference call on January 30, details of which are below.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Passenger Vessels

Norovirus Outbreak on Fred. Olsen Cruise Ship

An outbreak of the norovirus stomach bug has sickened 160 people aboard a Fred. Olsen Cruise Lines ship docked at Norfolk, Virginia, U.S. health officials and the company said on Friday.

Royal Caribbean's Revenue up 5.6%

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's

Fincantieri Orders Heat Power Systems for Cruise Newbuilds

Italian shipbuilding group Fincantieri has selected Climeon’s heat power system Climeon Ocean for its energy efficient solutions, purchasing six Climeon Ocean 450M

 
 
Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.0784 sec (13 req/sec)