Save the dates!


PASS THE ASPIRIN!
Which of the following will give shipowners the biggest headache in 2008?

Fuel costs
Crew shortages
Freight rates
Environmental regulations
Maritime security regulations

Marine Log

February 27, 2008

Gulf Island Fabrication reports soaring income and revenues

Gulf Island Fabrication, Inc. (NASDAQ: GIFI - News) today reported net income of $8.9 million ($.62 diluted EPS) on revenue of $100.9 million for its fourth quarter ended December 31, 2007, compared to net income of $3.7 million ($.26 diluted EPS) on revenue of $76.0 million for the fourth quarter ended December 31, 2006. Net income for the twelve months ended December 31, 2007 was $31.2 million ($2.18 diluted EPS) on revenue of $472.7 million, compared to net income of $21.3 million ($1.53 diluted EPS) on revenue of $312.2 million for the twelve months ended December 31, 2006.

The company had a revenue backlog of $330.4 million and a labor backlog of approximately 3.7 million man-hours remaining to work, which consist of work remaining at December 31, 2007 and commitments received through February 27, 2008.

Based in Houma, Louisiana, Gulf Island Fabrication, Inc.,, is a leading fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves. The company also provides offshore interconnect pipe hook-up, inshore marine construction, manufacture and repair of pressure vessels, heavy lifts such as ship integration and TLP module integration, loading and offloading of jack-up drilling rigs, semi-submersible drilling rigs, TLPs , SPARs, or other similar cargo, onshore and offshore scaffolding, piping insulation services, and steel warehousing and sales.

MORE NEWS STORIES


marine log logo

Save the dates!