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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Joe Copia who wrote (6538)3/25/1998 7:30:00 PM
From: Jenna   of 120523
 
CXIPY, an important player in the offshore oil driller groups beats estimates*,
Oil services, finished strongly. I think we'll have a gap up in the entire oil service sector. After that it's anyone's guess. I decided to keep my 'representative' oil service company EVI after selling SCSWF and CDG. I called SCSWF, the U.K. driller. They said earnings won't be out for two more weeks. This is another important player and one that will boost the sector.

The Coflexip Stena Offshore Group Reports Net Income of FRF553 <CXIP.PA>

The Coflexip Stena Offshore Group Reports Net Income of FRF553 Million
For Year Ended December 31, 1997
PARIS, March 25 /PRNewswire/ -- Coflexip Stena Offshore (Nasdaq: CXIPY)
today reported net income of FRF183 million or USD1.73 per share
(USDO.87 per ADS) for the fourth quarter of 1997 and net income of FRF553
million or USD5.25 per share (USD2.62 per ADS) for the year ended December 31,
1997. This compares with net income of FRF50 million or USDO.52 per share
(USDO.26 per ADS) for fourth quarter of 1996 and net income of FRF76 million
or USDO.80 per share (USDO.40 per ADS) for the year ended 1996.
For 1997, fourth quarter net operating revenues amounted to FRF1,988
million representing an increase of 35% compared with FRF1,468 million for the
fourth quarter of 1996.
With respect to the full year 1997 net operating revenues amounted to
FRF7,319 million representing an increase of 49% compared to FRF4,906 million
in 1996.
The Board of Directors will propose to the Annual General Meeting a
dividend of FRF118 million or FRF7.50 per common share, which will be paid in
cash.


* I posted to the CXIPY thread, because I'm not sure exactly what the report is. I'll update in case I've erred.
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