Stolt-Nielsen Reports Strengthened Financial Performance
Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012. Net profit attributable to shareholders for the first six months was $45.0 million, with revenue of $1,044.4 million, compared with $63.6 million and $986.6 million, respectively, in the first half of 2011. • Stolt Tankers reported an operating profit of $29.0 million, reflecting a net gain of $24.5 million on insurance proceeds related to the loss of MT Stolt Valor following the incident in the Persian Gulf in March. Net of this gain the operating profit was $4.5 million for the current quarter, compared with an operating loss of $8.6 million.
GlobalSantaFe Reports 2004 Results
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation (NYSE: GSF) today reported a net loss for the quarter ended December 31, 2004, of $7.6 million, or $0.03 per diluted share, on revenues of $498.3 million. The 2004 fourth quarter included a primarily non-cash tax charge of $42.5 million, or $0.18 per diluted share, related to a realignment of the company's subsidiary structure. Excluding this charge, the company had income of $34.9 million, or $0.15 per diluted share for the fourth quarter of 2004. For the year ended December 31, 2004, the company reported net income of $143.7 million, or $0.61 per diluted share, on revenues of $1.7 billion. In the fourth quarter of 2004, the company completed a transaction to create separate international and U.S.
ConocoPhillips 3Q Profit Edged Up
According to reports, ConocoPhillips on posted a 2 percent rise in third-quarter profit on increased production and slightly higher sales. The company posted net income of $3.88 billion compared with $3.80 billion a year ago. Per-share results fell to $2.31 from $2.68, however, as the number shares outstanding increased to 1.68 billion from 1.42 billion. The recent quarter included 37 cents in charges related to unfavorable tax changes in the U.K., impairment on certain refining and marketing assets held for sale and the costs of new Alaska tax laws, partially offset by an insurance gain. Total revenue rose to $49.9 billion from $49.66 billion a year earlier.
