Key Developments: Gulfmark Offshore Inc (GLF)
46.13USD
24 May 2013
$-0.04 (-0.09%)
$46.17
$45.80
$46.17
$45.61
21,539
275,399
$47.49
$27.17
Latest Key Developments (Source: Significant Developments)
GulfMark Offshore Inc Raises FY 2013 Revenue Guidance; Issues Q2 2013 Revenue Guidance Below Analysts' Estimates
GulfMark Offshore Inc announced that it is increasing fiscal 2013 revenue guidance forecast to be between $425 and $455 million, and it anticipate that revenue for the second quarter to be between $100 and $105 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $106 million for the second quarter of 2013 and revenues of $437 million for fiscal 2013. Full Article
GulfMark Offshore Inc Announces Quarterly Dividend On Common Stock
GulfMark Offshore Inc announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share on GulfMark Class A common stock payable on March 28, 2013, to stockholders of record on the close of business on March 18, 2013. Full Article
GulfMark Offshore Inc Issues FY, Q1 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
GulfMark Offshore Inc announced that for fiscal 2013, it expects revenue to be between $395 million and $445 million. The Company will tighten up this range as it move through the year. The Company currently anticipate revenue for the first quarter 2013 to be between $90 million and $95 million, with each subsequent quarter in 2013 increasing between $6 million and $11 million per quarter. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $460 million for the first quarter 2013 and revenues of $99 million for fiscal 2013. Full Article
GulfMark Offshore Inc Names New CEO-Houston Business Journal Online
Houston Business Journal Online reported that GulfMark Offshore Inc's president and Chief Executive Officer (CEO) Bruce Streeter, is stepping down from his position on June 4 at the annual stockholders meeting. Streeter, who has been with the Company for 23 years, will also retire from his position as a company director. Quintin Kneen, Gulfmark's CFO, will replace Streeter as president and CEO while keeping his current position. Kneen has been with Gulfmark since 2008. Full Article
GulfMark Offshore Inc Announces Annual Cash Dividend of $1.00 Per Share in 2012, Quarterly Dividend of $0.25 in 2013 and Stock Repurchase Program
GulfMark Offshore Inc announced that its Board of Directors declared an annual cash dividend on GulfMark Class A common stock of $1.00 per share payable on December 31, 2012, to stockholders of record on the close of business on December 21, 2012. The dividend will be paid before the end of the calendar year to take advantage of the current tax rate for 2012. The total dividend payout for 2012 is estimated to be $26,936,443. Commencing in 2013, GulfMark will pay a recurring quarterly cash dividend of $0.25 per share. GulfMark further announced that its Board of Directors has approved a stock repurchase program for up to a total of $100 million of its issued and outstanding Class A common stock. The stock may be repurchased from time to time on the open market or in privately negotiated transactions. Repurchases can be made from time to time using a variety of methods, which may include open market purchases or purchases through a Rule 10b5-1 trading plan, all in accordance with Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will be determined by GulfMark's management based on prevailing stock prices, general economic and market conditions and other considerations. The repurchase program does not obligate GulfMark to acquire any particular amount of common stock and may be suspended or discontinued at any time. Full Article
GulfMark Offshore Inc Announces $150 Million Private Offering Of Senior Notes Due 2022
GulfMark Offshore Inc announced that it intends to offer $150 million in aggregate principal amount of 6.375% Senior Notes due 2022 for sale in a private offering. The notes will have substantially the same terms as the $300 million aggregate principal amount of 6.375% Senior Notes due 2022 issued by GulfMark in March 2012. GulfMark intends to use the net proceeds from the notes offering to repay certain existing credit facilities and for general corporate purposes, including to fund vessel construction costs. Full Article
GulfMark Offshore Inc Lowers Q4, FY 2012 Revenue Guidance-Conference Call
GulfMark Offshore Inc announced that for fiscal 2012, it anticipates consolidated revenue for the fourth quarter of 2012, to be between $95 million and $100 million and consolidated revenue of for fiscal 2012, to be between $390 million and $395 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $107 million for the fourth quarter of 2012 and revenues of $407 million for fiscal 2012. Full Article
GulfMark Offshore Inc. Issues Q3, Q4, FY 2012 Revenue Guidance Below Analysts' Estimates
GulfMark Offshore Inc. announced that for fiscal 2012, it expects consolidated revenue of between $405 and $415 million. For the third and fourth quarter of 2012, it expects revenue to be between $105 and $110 million, and revenue for the third quarter of 2012 to be higher than the fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $115 million for the third quarter of 2012; revenues of $112 million for the fourth quarter of 2012 and revenues of $424 million for fiscal 2012. Full Article
GulfMark Offshore Inc. Announces USD300 Million Private Offering Of Senior Notes Due 2022
GulfMark Offshore Inc. announced that subject to market conditions, it intends to offer $300 million in aggregate principal amount of senior unsecured notes due 2022 for sale in a private offering. GulfMark intends to use the net proceeds from the notes offering, together with cash on hand, to fund its separately announced tender offer and consent solicitation for its existing 7.75% senior notes due 2014 (the 2014 Notes), to redeem any of the 2014 Notes not purchased in the tender offer, and to repay in full existing borrowings under its $200 million facility agreement. Full Article
TEXT-S&P: GulfMark Offshore rating unaffected by dividend
Dec 18 - Standard & Poor's Ratings Services said today that its rating on GulfMark Offshore Inc. (BB-/Stable/--) is not affected by GulfMark's announcement on Dec. 11, 2012, that it will pay a dividend of $26.9 million prior to year-end 2012 and will also pay a recurring quarterly dividend of $0.25 per share beginning in 2013, which will amount to approximately $26.9 million per year. GulfMark also announced that its board of directors has approved a stock repurchase plan of up to $100 million.
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