Helix reports second quarter results - well intervention market remains positiveCompany News // July 23, 2014
Helix Energy Solutions Group reported net income of US$57.8 million, or US$0.55 per diluted share, for the second quarter of 2014 compared to net income of US$27.2 million, or US$0.26 per diluted share, for the same period in 2013 and net income of US$53.7 million, or US$0.51 per diluted share, in the first quarter of 2014.
Net income for the six months ended June 30, 2014 was US$111.5 million, or US$1.05 per diluted share, compared with net income of US$28.8 million, or US$0.27 per diluted share, for the six months ended June 30, 2013.
The first quarter 2014 results included a US$10.5 million gain on the sale of our former spoolbase facility located in Ingleside, Texas, and a US$7.2 million insurance claim settlement related to our former oil and gas business.
These items contributed US$0.11 of after-tax earnings per diluted share in the first quarter of 2014.
Owen Kratz, President and Chief Executive Officer of Helix, said: "We believe that the market environment remains positive for well intervention services, and our well intervention assets have continued to perform at a high level. Robotics delivered increased results in the second quarter reflecting both stronger demand for trenching services and normal seasonal activity uplift.”