Rochester, NY 8/31/2009 11:25:19 PM
Trico Marine Services Inc., TRMA, Down by 2.42% in Early Afternoon Trading
Trico Marine Services Inc.
Trico Marine Services, Inc. announced its financial results for the second quarter of 2009 of revenues of $180 million, adjusted EBITDA of $31 million and adjusted net income of $0.33 per diluted share. The increases over first quarter of 2009 were due to substantial growth and improvement in the Company's subsea service businesses.
"At the same time," Mr. Compofelice continued, "we have liquidity challenges to meet. We will continue to be proactive in reducing our debt and capital expenditure commitments to improve our liquidity for the remainder of 2009 and 2010. We have completed OSV asset sales in the first half of 2009 and expect further sales in the second half, with proceeds used to reduce debt."
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Last Trade: 6.92
Day's Range: 6.75 - 6.93
52wk Range: 1.88 - 24.17
Change: 0.11 (1.56%)
Volume: 128,532
Avg Vol (3m): 426,208
ABOUT Trico Marine Services, Inc.
Trico Marine Services, Inc., through its subsidiaries, provides subsea and marine support vessels to the offshore oil and gas industry. It operates in three segments: Subsea Services, Subsea Trenching and Protection, and Towing and Supply. The Subsea Services segment provides technology oriented subsea services, including inspection, maintenance, and repair services; survey and light construction support; decommissioning; onshore engineering work; post processing of survey data; and associated reporting. The Subsea Trenching and Protection segment offers subsea trenching and protection services for the burial of subsea transmission systems.
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