Gulf Island Fabrication, Inc. ( GIFI ) fabricates drilling and production platforms, as well as other specialized structures used in the oil and gas industry.
Those services include the production of offshore and inshore platforms, living quarters, electrical buildings, process vessels, as well as painting and sandblasting of existing structures, offshore hookups and vessel repair.
Gulf Island Fabrication Beats Wall Street Estimates by 80.77%
On Apr 23, Gulf Island reported first-quarter earnings that surprised on estimates by 80.77%, or 42 cents per share. Net income was $13.4 million, or 94 cents per share, compared to $4.4 million, or 31 cents per share, in the first-quarter 2007. Analysts expected 52 cents per share.
Revenue rose 13.1% to $123.7 million from $109.4 million in the year-ago period.
The company had a revenue backlog of $440.1 million and a labor backlog of around 4.5 million man-hours remaining to work, which consists of work remaining at the end of the first quarter and commitments received since Mar 31.
Gulf Island's 2008 P/E is 14.60, under the industry average of 15.95. Its price-to-book is 2.59. The company has a five year average return on equity (ROE) of 12.17%. In addition, GIFI has a 0.90% dividend yield.
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$44.4 (05/22/08)
