Hornbeck Announces 4Q Results

Hornbeck Offshore Services Inc., said earnings this year should be between $2.19 per share and $2.68 cents per share. The company said it expects a first-quarter profit of between 42 cents per share and 55 cents per share. Analysts estimate 60 cents per share. Hornbeck Offshore expects operating expense to rise 25 percent, due to increases in labor costs, insurance and shipyard repair and maintenance costs, while current rates for its offshore supply vessels and tugs and tank barges will remain constant. Source: Houston Chronicle