Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Helix Energy Solutions Q1 Profit Jumps On Higher Revenues - Quick Facts

RELATED NEWS
Trade HLX now with 

Helix Energy Solutions Group Inc. (HLX: Quote) reported that its first-quarter, 2012 profit more than doubled from prior year, helped by increased revenues, mainly from its contracting services. The company's profit and revenues for the quarter were much above analysts' expectations.

Net income to shareholders was $65.7 million or $0.62 per share compared to $25.9 million or $0.24 per share prior year. Revenues increased to $407.93 million from $291.61 million last year. Revenues from contracting services were $229.8 million compared to $122.7 million last year.

Analysts polled by Thomson Reuters expected the company to report profit of $0.43 per share for the quarter on revenue of $343.89 million. Analysts' estimates typically exclude special items.

The company also noted that its first-quarter 2012 results were impacted by $17.1 million of pre-tax charges and expense, or $0.10 per share after tax, related to the early extinguishment of a portion of convertible senior notes and senior unsecured notes.

Owen Kratz, CEO of Helix, said, "First quarter results reflected the trend of increasing activity and high vessel utilization in our Contracting Services business including a significant improvement in our subsea construction business. Our Contracting Services business was able to post these improved results despite the Q4000 entering her scheduled regulatory dry dock during the month of March. First quarter results also benefited from relatively high premium prices realized on Gulf Coast crude oil sales."

Register
To receive FREE breaking news email alerts for Helix Energy Solutions and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.