MIS Co. Ltd. Inc. (OSE: MIS) reported record fourth quarter and fiscal year revenues of $125.1m and $387.5m, respectively and closes 2008 with a net profit of $8m and a record quarterly net profit of US$8m in Q4. This strong revenue increase and highest ever quarterly net profit is primarily driven by closing increasing volumes of contracts for the New Build Rigs value stream while maintaining MIS' market share in its traditional works value streams: Rig Refurbishment, EPC and Site Projects, Pressure Vessel, Process and General Fabrication and Technical and Safety Services. The first New Build Rig to be delivered by MIS (Hull #104) was completed with the issue of an ABS Class Certificate and formal Acceptance for Delivery Protocol agreed with MIS' client Seawolf Oilfield Services.
