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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: Robert Douglas who wrote (1437)4/15/1999 11:56:00 AM
From: Ram Seetharaman  Read Replies (1) of 2282
 
Thursday April 15, 11:28 am Eastern Time
(Note: this article is ''in progress''; there will likely be an update soon.)

Global Marine sees further earnings erosion
HOUSTON, April 15 (Reuters) - Oil and gas drilling contractor Global Marine Inc. said on Thursday it expected a further decline in earnings for the rest of 1999, but was increasingly confident that next year would improve.

''We do expect to see some additional erosion in quarterly results for the balance of the year,'' Chief Financial Officer Matt Ralls said in a conference call on first quarter earnings.

''We're looking forward to improved results in the year 2000 and forward,'' he added.

(Note: this article is ''in progress''; there will likely be an update soon.)

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