Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Broken_Clock who wrote (24825)	6/26/1998 6:28:00 PM
From: Broken_Clock	Read Replies (1) of 95453

Friday June 26, 5:45 pm Eastern Time Global Industries backs Q1 profit views LAFAYETTE, La., June 26 (Reuters) - Global Industries Ltd. Friday said it expected to meet analysts' consensus forecast of its first-quarter earnings and was optimistic about fiscal 1999 as a whole. Analysts on average estimate the company will report profit of $0.16 per share in the first quarter ending in June, according to a First Call survey. That compares with earnings of $0.11 a share in the same quarter a year earlier. ''Although there has recently been softness in oil prices, we have not changed our expectations about our results for the current fiscal year,'' William Dore, chairman, said in a statement. The company provides construction services for the natural gas and oil industry. ''Our backlog of work at May 31, 1998, was approximately $175.9 million compared to $51.9 million at the same time in the previous year,'' he added.

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