Stolt Comex Reports Results
Subsea contractor Stolt Comex Seaway S.A. reported results for the fourth quarter and the year ended Nov. 30, 1999. Net loss for the latest quarter was $1.5 million, on net operating revenue of $149.4 million, compared with net income of $9.6 million, on net operating revenue of $223.9 million for the same period last year. Net income for the year ended Nov. 30, 1999 was $16.2 million, on net operating revenue of $640.7 million, compared with a net income of $57.3 million, on net operating revenue of $649.8 million for the same period in 1998.
Stolt Comex Seaway Business Picking Up
Norwegian offshore services provider Stolt Comex Seaway SA won $60 million worth of contracts after a slow start earlier in the year . Stolt said higher oil prices and an improving construction and maintenance market in the Gulf of Mexico could help the market grow the following year.