As I expected and posted twice , the company reports a loss of $.11/sh vs analysts estimates of $.05/sh for the quarter.
Sales beat extimates but costs exceeded by a wide margin to account for the drop more than double estimated losses.
No word on Grotn/Navy and EXXon life line. That means its safe to assume:
1) They haven't resolved the engineering flaw which caused the fire at Grotn and the possibility still exists that the ntire contract is hanging in the balance.
2) Exxon work stil lags with no update and a deadline in April
I look forward to hearing something/questions at the CC about those 2, If not; draw your own conclusion.
given.
These delays, suspensions, costs, lost potential (Posco) all contribute to the abysmal report.
Sales increases were not effective in reducing the $.11/sh loss.
Even I didn't expect such a devastating #. More to come .
The 4 SELLS remain. The analysts were right. Futile efforts to convince that the report would be better than expected was DEAD WRONG.
Go only with trusted and reliable research as done by professionals. Avoid faulty research .It constantly is proven to show bad results.
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