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Insurance Recoveries News

25 Feb 2016

Transocean 4Q Revenue Up

Transocean Ltd. Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million, $1.68 per diluted share, excluding $4 million of net unfavorable items. - Contract backlog was $15.5 billion as of the February 11, 2016, Fleet Status Report. ZUG, SWITZERLAND-February 24, 2016-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported net income attributable to controlling interest of $611 million, $1.66 per diluted share, for the three months ended December 31, 2015. * $22 million, $0.06 per diluted share, related to restructuring costs; and $1 million in discontinued operations.

06 Nov 2014

Huntington Ingalls Industries Profits up in Q3 Report

Mike Petters (Photo: HII)

Shipbuilder Huntington Ingalls Industries (HII) released its third quarter 2014 results which reported revenues of $1.72 billion, up 4.9 percent compared to the same period last year. Third quarter diluted earnings per share was $1.96, compared to diluted earnings per share of $1.36 in the same period of 2013, and adjusted diluted earnings per share for the quarter was $1.67, compared to $1.17 in the same period of 2013. Segment operating margin for the quarter was 8.8 percent, while total operating margin was 10 percent, a 220 bps improvement over Q3 2013.

27 Feb 2014

Huntington Ingalls Industries 2013 Revenues Increased

HII logo

Huntington Ingalls Industries reports Fourth Quarter & Year 2013 financial results with increased revenues in each period. Segment operating income in the fourth quarter was $169 million, compared to $140 million in the same period last year, mainly driven by improved contract performance. Total operating income for the quarter was $174 million, compared to $106 million in the same period of 2012. This increase was primarily attributable to increased segment operating income and favorable variances in deferred state income taxes and the FAS/CAS Adjustment.

07 Nov 2013

Ingalls Reports Third Quarter Results

Mike Petters, HII president and chief executive officer

Huntington Ingalls Industries (HII), a company that designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe, reported third quarter 2013 revenues of $1.64 billion, up 2.6% from the same period last year. Third quarter diluted earnings per share was $1.36, compared to $0.26 in the same period of 2012. Segment operating income in the third quarter was $142 million, compared to $89 million in the same period last year.

03 Aug 2006

2Q Results for GlobalSantaFe

GlobalSantaFe Corporation reported net income for the quarter ended June 30, 2006, of $248.5m, or $1.01 per diluted share, on revenues of $773.4m. The results compare with net income of $85.1m, or $0.35 per diluted share, on revenues of $574.8m for the same quarter of 2005. During the second quarter of 2006, GlobalSantaFe recognized insurance recoveries totaling $66.4m. This amount includes a book gain of $63.7m, or $0.26 per diluted share, on two offshore drilling rigs, the GSF Adriatic VII and GSF High Island III, which were severely damaged during Hurricane Rita. Excluding this $63.7m gain, net income for the quarter was $184.8m, or $0.75 per diluted share.