Helix ESG reports third quarter resultsCompany News // October 23, 2013
Helix Energy Solutions Group reported net income of US$44.6 million, or US$0.42 per diluted share, for the third quarter of 2013 compared to net income of US$14.9 million, or US$0.14 per diluted share, for the same period in 2012, and US$27.2 million, or US$0.26 per diluted share, in the second quarter of 2013.
Net income from continuing operations totaled US$72.3 million, or US$0.68 per diluted share for the nine months ended September 30, 2013, as compared with net income of US$29.7 million, or US$0.28 per diluted share, for the nine months ended September 30, 2012.
Including discontinued operations, net income for the nine months ended September 30, 2013 was US$73.4 million, or US$0.69 per diluted share, compared with net income of US$125.2 million, or US$1.19 per diluted share, for the nine months ended September 30, 2012.
Third quarter 2013 results include a net pre-tax gain of US$7.0 million (US$0.04 per diluted share after-tax) associated with the following two items:
• US$15.6 million gain on the sale of the Express in July 2013
• US$8.6 million loss on the early extinguishment of debt associated with the redemption of our remaining $275 million of Senior Unsecured Notes in July 2013.
Owen Kratz, President and Chief Executive Officer of Helix, said: "Third quarter results increased due to top line growth and profitability in both the well intervention and robotics businesses.
"Well intervention benefitted from the introduction of Skandi Constructor into well intervention mode in September where she has performed well. Last month’s announcement of the Q7000 newbuild is indicative of our confidence in the growing market demand for well intervention services.”
Summary of Results