Trico Marine Services (TMAR) Message Board

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Gold/Mining/Energy : Trico Marine Services (TMAR)

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To: JZGalt who wrote (76)	3/4/1998 7:09:00 PM
From: Keith J	Read Replies (1) of 1153

I took a closer look, found a couple additional data points, and made my estimate more conservative. Still came up with 46 cents. Below is the numbers, the next post will have some assumptions/rationale/caveats, etc. 9/97 Qtr. 12/97 Qtr. 3/98 Qtr. (Est.) Rates 7590 8037 7500 Supply n/a 14056 13500 Supply (Anchor) 6013 6694 6000 Lift 2045 2049 2000 C/LH Utilization 85 80 84 Supply n/a 97 90 Supply (Anchor) 76 71 70 Lift 98 97 97 C/LH Average Units 47.7 48 48 Supply n/a 5.4 16 Supply (Anchor) 6 6 6 Lift 23 23 23 C/LH Income Statement 34094 41601 50996 Revenue 11168 (33%) 13596 (33%) 20398 (40%) Direct Costs 22926 28005 30598 Gross Profit 1425 1579 1737 G&A 886 928 1100 Amort. of Inspection/Misc. 3319 (10%) 4739 (11%) 6629 (13%) Depreciation 17296 20759 21132 Operating income 2216 4088 6575 Other expenses, including interest 15080 16671 14557 Earnings before taxes 5279 (35%) 5818 (35%) 5095 (35%) Taxes 9801 10853 9462 Net income 0.58 0.61 0.46 Fully diluted income/share

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