Gulfmark Offshore (GLF) Tops Q4 EPS by 9c; Will Stop Offering Revenue Guidance

Gulfmark Offshore (NYSE: GLF) reported Q4 EPS of ($0.38), $0.09 better than the analyst estimate of ($0.47). Revenue for the quarter came in at $50.6 million versus the consensus estimate of $49.34 million.

Guidance

Due to the fluctuations in offshore spending by our customers and limited forward visibility, the Company will no longer provide revenue guidance. GulfMark continues to execute its expense reduction initiatives, and now anticipates first-quarter direct operating expenses to be between $21 million and $24 million excluding special items. Excluding special items, the Company expects general and administrative expense to be between $9 million and $10 million in the first quarter in 2016. In addition, the Company expects to incur about $1 million in drydock expense in the first quarter.

For earnings history and earnings-related data on Gulfmark Offshore (GLF) click here.

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