Bouygues Offshore S.A. Reports 1997 First Half Revenues, New Orders and Backlog.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Aug. 14, 1997-- Bouygues Offshore S.A. (NYSE NYSE See: New York Stock Exchange : BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) ) announces 1997 revenues, new orders and backlog for the six months and second quarter ended June 30, 1997. They are as follows: -0-
Half year figures:
Six months Six months Six months Six months
ended ended ended ended
Millions 6/30/97 6/30/97 12/31/96 6/30/96
US $ (a) FF FF FF
Revenues 387.9 2,279 1,965 1,815
New Orders 437.3 2,569 1,835 2,446
Backlog 607.6 3,570 3,280 3,410
(a) Converted at June 30 noon buying rate $1 = FF 5.8752
-0-
Quarterly figures:
Three Three Three Three
months months months months
Millions ended ended ended ended
6/30/97 6/30/97 3/31/97 6/30/96
US $ (b) FF FF FF
Revenues 226.4 1,330 949 900
New Orders 368.0 2,162 407 1,008
Backlog 607.6 3,570 2,738 3,410
(b) Converted at June 30 noon buying rate $1 = FF 5.8752
Revenues for the six months ended June 30, 1997 increased 25.6% to FF 2,279 million from FF 1,815 in the first half of 1996. The 1997 revenues include FF 74 million from the Nigerian Nissco subsidiary which was consolidated on January 1, 1997 and therefore, is not reflected in the comparable 1996 period. Part of the 1997 revenues (approximately FF 138 million) represent operating costs operating costs npl → gastos mpl operacionales billed directly to single project joint ventures and reimbursable re·im·burse tr.v. re·im·bursed, re·im·burs·ing, re·im·burs·es 1. To repay (money spent); refund. 2. To pay back or compensate (another party) for money spent or losses incurred. expenses billed to customers, which in both cases do not generate operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. . Second quarter 1997 orders totaled FF 2,162 million, a substantial increase compared to first quarter 1997 orders of FF 407 million. As a result, the June 30, 1997 backlog was FF 3,570 million, a 4.7% increase over June 30, 1996. Detailed 1997 first half results will be released on September 9, 1997. Bouygues Offshore S.A. is a leading international contractor serving the oil and gas industry, specializing in providing integrated solutions for the design, construction, installation and management of offshore and onshore oil and gas production- related turnkey projects. The Company also provides maintenance services to the oil production industry, engages in high-end maritime and river-related civil works projects and designs and constructs liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG LNG (liquefied natural gas): see under natural gas. ) import terminals and storage tanks. CONTACT: Bouygues Offshore S.A., Montigny-Le-Bretonneux Mireille Arvier Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager 33.1.30.60.75.06 or Morgen-Walke Associates, Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Lynn Morgen/Betsy Brod Press: Terry Rooney/Brian Maddox 1-212-850-5600 |
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