Gulf Island Fabrication, Inc.
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Gulf Island Fabrication, Inc. is a leading fabricator of offshore drilling and production platforms and other specialized structures used in the development and production of offshore oil and gas reserves. Structures and equipment fabricated by the Company include jackets and deck sections of fixed production platforms, hull and deck sections of floating production platforms (such as tension leg platforms), piles, wellhead protectors, subsea templates and various production, compressor and utility modules. The Company believes it is one of only three domestic companies capable of fabricating fixed offshore production platforms, including jackets, for installation in water depths greater than 300 feet. The Company's focus on controlling costs and providing high quality, reliable products and services has enabled it to be profitable for each year since 1988. Demand for the Company's products and services is primarily a function of the level of offshore oil and gas activity in the Gulf of Mexico and to a leer extent, offshore areas in West Africa and Latin America.
The Company's facilities are located on 597 acres, of which 250 acres are currently developed for fabrication activities with 347 acres available for expansion. These facilities allow the Company to build jackets for fixed production platforms for use in water depths up to 800 feet and deck sections for fixed or floating production platforms for use in unlimited water depths. In addition, the Company is able to build certain hull sections of tension leg platforms, typically for use in water depths greater than 1000 feet. |
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Recent Articles
Gulf Island Fabrication Declares Dividend on Common Stock
Monday, October 26, 2009 - Gulf Island Fabrication's board of directors declared a dividend of $0.01 per share on Gulf Island Fabrication's approximately 14.3 million shares of common stock outstanding.
Gulf Island Fabrication Declares Dividend on Common Stock
Monday, July 27, 2009 - Gulf Island Fabrication's Board has declared a dividend of $0.01 per share on Gulf Island Fabrication, Inc.'s approximately 14.3 million shares of common stock outstanding.
Gulf Island Fabrication Reports Second Quarter Earnings
Friday, July 24, 2009 - Gulf Island Fabrication has reported net income of $4.0 million on revenue of $79.1 million for its second quarter ended June 30, 2009.
Gulf Island Fabrication Declares Dividend on Common Stock
Monday, May 11, 2009 - Gulf Island Fabrication announced that its board of directors declared a dividend of $0.01 per share on Gulf Island Fabrication, Inc.s approximately 14.3 million shares of common stock outstanding.
Frank Smith Appointed President of Gulf Marine Fabricators
Wednesday, March 04, 2009 - Effective March 1, 2009, Frank Smith has joined Gulf Island Fabrication, Inc. as President and CEO of Gulf Marine Fabricators.
Gulf Island Fabrication Promotes Executive VP to President and COO
Tuesday, January 13, 2009 - Kirk J. Meche, currently Executive Vice President of Gulf Island Fabrication, has been promoted to the position of President and Chief Operating Officer of the Company.
Gulf Island Profits Slide for 3Q 2008, Backlog Encouraging
Friday, October 24, 2008 - Gulf Island Fabrication reported net income of $2.8 million on revenue of $92.7 million for its third quarter ended September 30, 2008, compared to net income of $10.0 million on revenue of $124.9 million for 3Q 2007.
Gulf Island Fabrication's Louisiana Yards to Resume Ops Next Week
Thursday, September 18, 2008 - Gulf Island Fabrication anticipates that three of its four Louisiana yards will be fully operational by early next week. The Company's Texas facilities received no storm related damage from Hurricane Ike, but lost five days of productivity.
Gulf Island Fabrication Lands LOI for 2nd MinDOC T3 Hull Topsides
Thursday, June 19, 2008 - Gulf Island Fabrication has received a letter of intent from Bluewater Industries, who has contracted with ATP Oil & Gas Corporation, for the topsides on the second MinDOC T3 hull for ATP's Telemark Hub deepwater development project.
Gulf Island Fabrication Awarded Second MinDOC T3 Hull
Thursday, April 24, 2008 - Gulf Island Fabrication, Inc. has received, through Gulf Marine Fabricators, a letter of intent from Bluewater Industries for the second MinDOC T3 hull for ATP's Telemark Hub deepwater development project.
Gulf Island Fabrication Names New CFO
Wednesday, October 03, 2007 - Joseph "Duke" Gallagher is stepping down as Gulf Island Fabrication's CFO and Treasurer effective October 3, 2007, and Robin A. Seibert, who has been the Controller and CAO, will become its new CFO and Treasurer effective immediately.
Gulf Island Prices Underwritten Public Offer
Wednesday, September 12, 2007 - Gulf Island announced the pricing of an underwritten public offering of 800,000 shares of its common stock by Aransas Partners at a price of $34.25 to the public, pursuant to an effective regeistration statement on Form S-3.
Gulf Island Names New President for Gulf Marine
Thursday, August 09, 2007 - Gulf Island Fabrication's Board of Directors has elected Johannes Ikdal as the President of G. M. Fabricators, L. P. d/b/a Gulf Marine Fabricators, the Company's South Texas facility.
Gulf Island Fabrication Reports Second Quarter Earnings
Friday, July 27, 2007 - Gulf Island reported a net income of $7.9 million on revenue of $137.6 million for its second quarter 2007, compared to net income of $5.7 million on revenue of $89.5 million for the second quarter 2006.
Anderson Tapped to Lead Gulf Marine Fabricators
Monday, November 06, 2006 - Gulf Island Fabrication, Inc. said that Clint Anderson has joined Gulf Island Fabrication, Inc. as the President of G. M. Fabricators, L. P. d/b/a Gulf Marine Fabricators, the Company's South Texas facility.
Gulf Island to Fabricate ATP's MinDOC 3 Concept Hull
Thursday, September 28, 2006 - Gulf Island Fabrication has been selected to fabricate and load-out a MinDOC 3 hull, a deepwater floating, drilling, and production concept.
Gulf Island Fabrication Wins Work from Daewoo
Friday, July 28, 2006 - Gulf Island Fabrication has received an LOI from Daewoo to fabricate and load-out the Tower Top Section and the Tower Bottom Section for the Cabinda Gulf Oil Company Ltd. Tombua Landana DDP Compliant Tower Project.
Gulf Island Reports Second Quarter Earnings
Wednesday, July 26, 2006 - Gulf Island Fabrication, Inc. reported net income of $6.0 million ($.43 diluted EPS) on revenue of $90.0 million for its second quarter ended June 30, 2006.
Gulf Island Fabrication Reports First Quarter Earnings
Wednesday, April 26, 2006 - Gulf Island Fabrication reported net income of $2.2 million ($.16 diluted EPS) on revenue of $57.4 million for its first quarter ended March 31, 2006.
Gulf Island Fabrication Reports Fourth Quarter Earnings
Wednesday, February 01, 2006 - Gulf Island Fabrication reported net income of $2.7 million on revenue of $41.4 million for its fourth quarter ended December 31,
2005, compared to net income of $2.9 million on revenue of $45.9 million for the fourth quarter ended Dec 31, 2004.
