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Helix Reports First Quarter 2019 Results

Nachrichtenquelle: Business Wire (engl.)
23.04.2019, 00:03  |  408   |   |   

Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) reported net income of $1.3 million, or $0.01 per diluted share, for the first quarter of 2019 compared to a net loss of $2.6 million, or $(0.02) per diluted share, for the same period in 2018 and a net loss of $13.7 million, or $(0.09) per diluted share, for the fourth quarter of 2018.

Helix reported Adjusted EBITDA1 of $30.2 million for the first quarter of 2019 compared to $27.6 million for the first quarter of 2018 and $23.2 million for the fourth quarter of 2018. The table below summarizes our results of operations:

 

Summary of Results

($ in thousands, except per share amounts, unaudited)

           
Three Months Ended
3/31/2019 3/31/2018 12/31/2018
Revenues $ 166,823 $ 164,262 $ 158,356
 
Gross Profit $ 16,254 $ 12,983 $ 13,811
10 % 8 % 9 %
 
Non-cash Loss on Equity Investment $ - $ - $ (3,430 )
 
Net Income (Loss) $ 1,318 $ (2,560 ) $ (13,747 )
 
Diluted Earnings (Loss) Per Share $ 0.01 $ (0.02 ) $ (0.09 )
 
Adjusted EBITDA1 $ 30,214 $ 27,566 $ 23,238
 
Cash and cash equivalents $ 220,023 $ 273,985 $ 279,459
 
Cash flows from operating activities $ (34,246 ) $ 41,046 $ 45,917
 

1Adjusted EBITDA is a non-GAAP measure. See reconciliation below.

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