Search results for: financial statement

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  • 6 April 2020
    Business & Finance

    Fugro is carrying out cost reduction measures to reduce the impact of the COVID-19 pandemic and the low oil price environment, including minimising the hire of short-term charters, implementing a hiring and salary freeze and workforce reduction. The company has also withdrawn its guidance for 2020, saying it is impossible to forecast the magnitude and […]

  • 23 April 2020
    Business & Finance

    Houston-based offshore services and robotics specialist Helix Energy Solutions has reported net loss of $11.9 million, or 9 cents per diluted share, for the first quarter of 2020 compared to $1.3 million profit for the same period in 2019. Sequentially, profit fell from $8.1 million of 5 cents per diluted share. The Q1 2020 results […]

  • 12 March 2020
    Business & Finance

    Engineering group Sandvik has completed the divestment of Sandvik Drilling and Completions (Varel) to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments. Sandvik will remain a minority owner of 30% of the company and hold a position on the board. The contribution to Sandvik’s earnings per share […]

  • 22 January 2020
    Business & Finance, Equipment

    Baker Hughes has reported profit of $48 million or 7 cents per share on GAAP basis for the quarter ended December 31, 2019. The result compares with $131 million profit in Q4 2018, and $57 million profit sequentially. Adjusted net income (non-GAAP) attributable to Baker Hughes was $179 million, up 49% from same time last […]

  • 3 December 2019
    Business & Finance

    McDermott said it has been granted access to the second tranche of the $1.7 billion superpriority senior secured credit facility announced on October 21, 2019. The new tranche (Tranche B) provides McDermott with a $250 million term loan facility and a $100 million letter of credit facility. The company expects to utilize the amounts available […]

  • 27 February 2020
    Business & Finance

    Marine seismic player Polarcus has cut its deficit in 2019 as improved market boosted the company’s revenues by 44 percent against 2018. The Oslo-listed company reported loss for the 2019 of $10 million, on revenues of $290.6 million, versus loss of close to $32 million and revenues of $202.2 million in 2018. Polarcus’ EBITDA more […]

  • 26 March 2014
    Business & Finance

    The Financial Supervisory Authority of Norway (Finanstilsynet) has completed a review of certain aspects of Stolt-Nielsen’s consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase relating to the Acuidoro and Moerdijk acquisitions completed during 2012. The non-cash gain on bargain purchase of $4.8 million relating […]

  • 27 February 2020
    Business & Finance

    TechnipFMC has reported fourth-quarter 2019 loss of $2.4 billion or $5.40 per diluted share. The services major has seen the results affected by after-tax charges and credits totaling $2.43 billion of expense, or $5.43 per diluted share. TechnipFMC warned the market on impairment impact prior to releasing its earnings results. Impairment and other charges were […]

  • 26 February 2020
    Business & Finance

    Italian offshore services player Saipem has reported fourth-quarter 2019 loss of €32 million on revenues of €2.35 billion. This result compares to net loss of €115 million on revenues of €2.47 billion in the prior-year comparable period. Adjusted result was net profit of €74 million, against €8 million profit in Q4 2018. Saipem reported Q4 […]

  • 25 February 2020
    Business & Finance, Operations & Maintenance

    Norwegian contractor Reach Subsea has widened its quarterly loss as utilization of assets fell against prior-year comparable period. For the fourth quarter 2019, Reach booked loss of close to NOK 25 million on revenues of NOK 107 million, versus loss of NOK 6 million, on revenues of NOK 190 million in the year-ago quarter. To […]

  • 11 March 2020
    Business & Finance

    Alternative lender ThinCats has provided a £5.25 million funding facility for Peterhead-based Maritime Developments Limited (MDL). The funding will be used to refinance existing loans and create additional working capital to support MDL in its long-term development plans. The funding represents the largest deal to date for ThinCats in Scotland. The ThinCats team was led […]

  • 25 February 2020
    Business & Finance, Equipment

    Oceaneering has reported a net loss of $263 million, or $2.66 per share, for the three months ended December 31, 2019, despite revenue rise. The result compares with net loss of $64 million same time last year. During the prior quarter ended September 30, 2019, Oceaneering reported a net loss of close to $26 million, […]

  • 8 January 2020
    Business & Finance

    Bourbon chief operating officer Gaël Bodénès resigned after the restructuring of the French company, and has now taken on a new role as chairman of Bourbon Maritime. Bourbon Maritime (Bourbon Offshore)  will continue to conduct business as usual under a continuation plan, to include the company’s “BOURBONINMOTION” digitalization and restructuring initiative. To remind, the Marseilles […]

  • 13 May 2014
    Business & Finance, Equipment, Technology

    Royal Boskalis Westminster N.V. announced that the Annual General Meeting of Shareholders adopted the 2013 financial statements at the annual meeting held today. All other voting items were also adopted, including: Reappointment The Meeting reappointed Mr. H.J. Hazewinkel as member and deputy chairman of the Supervisory Board for a term of four years. Dividend The […]

  • 21 February 2020
    Business & Finance, Operations & Maintenance

    DOF Subsea, a wholly-owned subsidiary of DOF Group, reported loss in the fourth quarter of 2019 of NOK 30 million ($3.2 million), compared to loss of NOK 458 million ($49.1 million) in the corresponding period in 2018. Full-year result for 2019 came out negative, with loss of NOK 1.13 billion ($121.4 million), against loss of […]

  • 21 January 2020
    Business & Finance

    McDermott said it has secured the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitize nearly all the company’s funded debt, eliminating over $4.6 billion of debt. The restructuring transaction will be implemented through a prepackaged Chapter 11 process that will be financed by a debtor-in-possession […]

  • 26 February 2020
    Business & Finance

    Engineering and construction specialist Subsea 7 has seen red in the fourth quarter 2019 on activity drop in renewables and heavy lift division. The Oslo-listed firm posted quarterly loss of $129 million, or $45 cents per diluted share, on revenue of $889 million, versus profit of $32 million, or $12 cents per diluted share on […]

  • 16 December 2019
    Business & Finance

    McDermott said it has been formally notified by the New York Stock Exchange that the average closing price of the its shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE. The company said […]

  • 15 November 2019
    Business & Finance, Operations & Maintenance

    Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has reported net loss of $6.4 million for the three-month period ended September 30, 2019. This result compares with loss of some $1.9 million in the corresponding period in 2018. The Singapore-listed company generated quarterly revenue of $27 million, […]

  • 12 March 2020
    Business & Finance

    Houston-based offshore services and robotics specialist Helix Energy Solutions has amended its existing credit agreement with Nordea Bank ABP and the lender parties related to its Q5000 vessel. The credit agreement from September 2014, has been adapted to extend the final maturity date of the term loan from April 30, 2020 to January 31, 2021. […]

  • 28 February 2020
    Business & Finance

    Oslo-listed SeaBird has recognized net loss from continuing operations of $11.8 million for Q4 2019, against net loss of $3.7 million in the same period in 2018. The seismic data provider for oil and gas companies said its profitability in the quarter was negatively affected by restructuring charges of $1.2 million, decommissioning and impairment cost […]

  • 28 November 2019
    Business & Finance, Operations & Maintenance

    DOF Subsea, a wholly-owned subsidiary of DOF Group, reported loss in the third quarter of 2019 of NOK 1.09 billion ($119 million), compared to loss of NOK 98 million ($10.7 million) in the corresponding period in 2018. Year-to-date result for 2019 came out negative, with loss of NOK 1.1 billion ($120 million), against loss of […]