Trico Marine Services (TMAR) Message Board

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

TMAR 22.48

+0.1%

Oct 31 9:30 AM EST

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To: kormac who wrote (1078)	4/28/1999 8:32:00 PM
From: D.J.Smyth	Read Replies (1) of 1153

they stacked their marine insp. costs for this qtr., amortization costs were also stacked, and "other expenses" were about $4 million higher as a one time shot - all this added together created the loss. otherwise, they would have broke even had they stayed with the same accounting method (prior to receiving the $50 million which came with "do this or else" clauses) meaning qtrs. going forward they'll have significantly less amortization costs, other expenses and marine inspec. costs - a savings of at least $5 million per qtr. in expenses alone. They were given the $50 million to paydown debt if you recall. Seems they should also stand cutting head count at the main office at this rate. Market's reaction will be curious since they're guiding for a profit going forward.

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