Stolt Offshore Releases 2Q Results

Stolt Offshore S.A. reported results for the second quarter and six months ended May 31, 2002. The net profit for the quarter was $3.4 million, or $0.04 per share, on net operating revenue of $ 334.5 million, compared with a net loss of $6.3 million, or $0.07 per share, on net operating revenue of $282.0 million for the same period last year. The weighted average number of common share equivalents outstanding for the quarter was 85.1 million compared with 87.2 million for the same time last year. For the six month period ended May 31, 2002, the company reported a net profit of $3.6 million, or $0.04 per share, on net operating revenue of $628.6 million. This compares with a net loss of $21.8 million, or $0.25 per share, on net operating revenue of $473.1 million for the same period last year. The weighted average number of common share equivalents outstanding for the six month period was 86.1 million compared with 87.2 million for the same period last year.