Oops, correction. TMAR is not now debt free, I read too quickly the paragraph below from their 2nd quarter report about gains from extinguishment of debt. They still have about 437 million in debt.
"Trico Marine Services, Inc. (Nasdaq: TMAR chart, msgs) today reported a net loss for the second quarter ended June 30, 2000, of $4.2 million, or $0.13 per share (diluted), before an extraordinary gain of $715,000, net of taxes, resulting from the early extinguishment of debt. After the extraordinary gain, the net loss was $3.5 million, or $0.11 per share (diluted). This compares to a net loss of $9.0 million, or $0.39 per share (diluted), for the second quarter of 1999, before an extraordinary charge of $1.8 million, net of taxes, in connection with the early prepayment of its bank debt. Second quarter 2000 revenues increased to $29.5 million compared to $26.7 million last year." |
