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SEACOR ANNOUNCES THIRD QUARTER RESULTS

 MORGAN CITY, La., Nov. 11 /PRNewswire/ -- SEACOR Holdings, Inc. (NASDAQ: CKOR) today announced net earnings for the third quarter ended Sept. 30, 1993 of $1,550,000 or $0.26 per share on revenue of $19,137,000. Results for the quarter included a net extraordinary loss of $1,093,000 or ($0.19) per share relating to the early retirement of certain outstanding indebtedness and the release of SEACOR from a portion of a loan due to a customer.
 In the comparable quarter ended Sept. 30, 1992, SEACOR earned $512,000 or $0.13 per share on revenues of $14,626,000. For the nine months ended Sept. 30, 1993, earnings were $4,541,000 or $0.78 per share on revenues of $53,981,000, compared to a loss of $(26,000) or ($0.01) per share on revenue of $42,109,000 in the comparable period in 1992.
 Net earnings for the quarter also included $188,000 or $0.03 per share from the company's 50 percent investment in the National Response Corporation ("NRC"), an environmental contractor dedicated to providing response to marine oil spills. NRC's results reflected its first quarter of full operations and significantly benefited from its participation in responding to a major oil spill off the Florida coast.
 SEACOR and its subsidiaries operate a diversified fleet of marine vessels primarily dedicated to supporting offshore oil and gas exploration and development in the Gulf of Mexico, the North Sea and offshore West Africa. Services provided by the company's vessels include lowing and anchor handling of mobile rigs, delivery of cargo and supplies to offshore rigs and platforms, transportation for offshore construction and maintenance, and standby safety support.
 SEACOR HOLDINGS, INC.
 Consolidated Results of Operations
 (thousands of dollars except per share data)
 Three Months Nine Months
 Periods ended Sept. 30 1993 1992 1993 1992
 Revenues 19,137 14,626 53,98 142,109
 Income (loss) before
 extraordinary item $2,643 $512 $5,634 $(26)
 Extraordinary item - loss on
 extinguishment of debt (less
 applicable
 income taxes) (a) (1,093) -- (1,093) --
 Net income (loss) $1,550 $512 $4,541 $(26)
 Earnings per common share
 assuming no dilution:
 Earnings (loss) before
 extraordinary item $0.45 $0.13 $0.97 $(0.01)
 Extraordinary item (a) (0.19) -- (0.19) --
 Net earnings (loss) $0.26 $0.13 $0.78 (0.01)
 Weighted average
 shares outstanding 5,835,805 3,907,303 5,816,208 3,901,075
 (a)Included in the net extraordinary loss of $1,093,000 was a $1,385,000 charge consisting of a write-off of unamortized debt discount, unamortized deferred financing costs and the payment of redemption premiums and fees associated with certain outstanding indebtedness prepaid during the quarter. The charge was reduced by a $292,000 gain recognized upon the forgiveness of indebtedness associated with the termination of a vessel charter.
 -0- 11/11/93
 /CONTACT: Randall Blank, executive vice president and chief financial officer of SEACOR Holdings, Inc., 504-385-3475, or 212-307-6633/
 (CKOR)


CO: SEACOR Holding, Inc. ST: Louisiana IN: MAR OIL SU: ERN

TM -- NY009 -- 3068 11/11/93 08:31 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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