Charge impacts GulfMark
GulfMark Offshore Inc. ended the year with record net income despite a charge that reduced fourth-quarter earnings by 61 percent.
The Houston marine transportation services company reported net income of $12.7 million, or 55 cents per share, on revenue of $91.5 million, for the three months ended Dec. 31, 2007. That compared with net income of $30.6 million, or $1.42 per share, on revenue of $69 million, for the same period in 2006.
GulfMark (NYSE: GLF) said fourth-quarter results included a $27.6 million charge related to foreign tax law changes cash advance usa. Excluding the charge, net income would have been $1.74 per share for the quarter.
For the year, net income was $99 million, or $4.29 per share, on revenue of $306 million, compared with net income of $89.7 million, or $4.28 per share, on revenue of $251 million, in 2006.
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