Coflexip Stena Offshore today reported net income of EUR17.1 million, or $0.85 per share ($0.42 per ADS), for the fourth quarter of 2000 and net income of EUR88.6 million excluding non-recurring items, or $4.40 per share ($2.20 per ADS), for the year ended December 31, 2000. This compares with net income of EUR30.0 million, or $1.62 per share ($0.81 per ADS), for the fourth quarter of 1999 and net income of EUR89.6 million, or $4.96 per share ($2.48 per ADS), for the year ended December 31, 1999. Excluding the non-recurring costs of the decommissioning of the FlexService 1 vessel for EUR5 million after tax, the recurring net income for the quarter would have come to EUR22.1 million in the fourth quarter of 2000.