Gulf Island Fabrication (GIFI) Financials

$158 M

Mkt cap, 21-May-2018

$57.3 M

Revenue Q1, 2018
Gross profit (Q1, 2018)679 K
Gross profit margin (Q1, 2018), %1.2%
Net income (Q1, 2018)-5.3 M
EBIT (Q1, 2018)-4.8 M
Cash, 31-Mar-20186.5 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

608.3 m506.6 m306.1 m286.3 m171 m

Revenue growth, %

(17%)(40%)(6%)

Cost of goods sold

584.7 m

Gross profit

23.7 m

Gross profit Margin, %

4%

General and administrative expense

19.7 m17.8 m

Operating expense total

19.7 m17.8 m

EBIT

12.1 m23.9 m(38.6 m)5.2 m(68.4 m)

EBIT margin, %

2%5%(13%)2%(40%)

Interest expense

237 k165 k332 k349 k

Interest income

3 k26 k24 k

Pre tax profit

11.5 m(38.7 m)(69 m)

Income tax expense

4.3 m(13.4 m)2 m(24.2 m)

Net Income

7.2 m15.3 m(25.4 m)3.5 m(44.8 m)

Quarterly

USDQ3, 2013Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

168.2 m84.3 m67.5 m84 m81.5 m65.4 m38 m45.9 m49.9 m57.3 m

Cost of goods sold

159.1 m78.5 m75.4 m78.3 m67.4 m60.1 m42.9 m57.5 m50.4 m56.6 m

Gross profit

9.1 m5.8 m(7.8 m)5.7 m14.1 m5.3 m(4.9 m)(11.6 m)(494 k)679 k

Gross profit Margin, %

5%7%(12%)7%17%8%(13%)(25%)(1%)1%

General and administrative expense

3.7 m3.7 m3.8 m4.5 m5.1 m5.1 m3.9 m4.6 m4.4 m4.7 m

Operating expense total

3.7 m3.7 m3.8 m4.5 m5.1 m5.1 m3.9 m4.6 m4.4 m4.7 m

EBIT

5.3 m2.1 m(18.2 m)1.2 m9 m173 k(9.2 m)(16.3 m)(4.9 m)(4.8 m)

EBIT margin, %

3%2%(27%)1%11%0%(24%)(35%)(10%)(8%)

Interest expense

43 k50 k39 k50 k88 k110 k59 k158 k45 k469 k

Interest income

2 k7 k8 k6 k2 k12 k12 k

Pre tax profit

5.3 m2.1 m(18.3 m)1.6 m9 m(5.2 m)

Income tax expense

2 m696 k(6.1 m)581 k3.4 m133 k(2.8 m)(5.7 m)(1.8 m)59 k

Net Income

3.3 m7.8 m15.4 m83 k1.4 m(12.1 m)989 k5.5 m541 k(6.5 m)(10.9 m)(3.1 m)(5.3 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

36.6 m36.1 m34.8 m51.2 m9 m

Accounts Receivable

20 k3.4 m

Inventories

11.3 m10.1 m12.9 m12 m4.9 m

Current Assets

202 m172.5 m115.9 m113.4 m179.2 m

PP&E

223.6 m224.8 m200.4 m206.2 m88.9 m

Total Assets

426.2 m397.9 m316.9 m322.4 m270.8 m

Accounts Payable

66.1 m40.3 m13.6 m9 m18.4 m

Short-term debt

Current Liabilities

112.3 m72.8 m37.9 m35.3 m48.7 m

Long-term debt

Total Liabilities

59.4 m51.3 m

Additional Paid-in Capital

93.1 m93.8 m96.2 m98.8 m100.5 m

Retained Earnings

172.4 m181.9 m150.7 m153.6 m108.2 m

Total Equity

275.6 m285.8 m257.2 m263 m219.5 m

Financial Leverage

1.5 x1.4 x1.2 x1.2 x1.2 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

21.8 m23.2 m31.4 m26.7 m50.1 m53.4 m45.3 m39.2 m50.1 m55.6 m34.7 m22.3 m17.8 m6.5 m

Inventories

5.1 m11.2 m10.8 m10.5 m10.1 m9.9 m13.3 m17.8 m18.9 m18.3 m11.8 m11.9 m12.3 m5.1 m

Current Assets

189 m173.1 m147.2 m160 m153.3 m141.1 m127.3 m119 m125.6 m123.3 m210.8 m214.1 m209.6 m178.1 m

PP&E

223 m234.7 m231.9 m230.6 m220.4 m215.8 m211.4 m217.4 m213.7 m211.2 m91 m90.7 m91 m86 m

Total Assets

426.2 m408.5 m379.8 m391.2 m374.3 m357.5 m339.3 m339.2 m342 m337.2 m304.7 m307.6 m303.4 m269.1 m

Accounts Payable

52.9 m54.6 m32.6 m34.3 m25.8 m15.8 m14.9 m8.9 m12.1 m8.7 m8.5 m19.3 m21.5 m18.9 m

Current Liabilities

108.9 m93.4 m62.6 m66.9 m51.5 m34.9 m33.2 m51.9 m50 m43.5 m27.9 m46.4 m45.6 m41 m

Total Liabilities

146.4 m130.5 m98.8 m103.8 m89.5 m72.1 m66.7 m80.5 m77.1 m71.1 m48.7 m61.5 m59.5 m55 m

Additional Paid-in Capital

92.8 m93.4 m93.6 m93.9 m94.2 m94.9 m95.5 m96.7 m97.5 m98.3 m98.4 m99.4 m100.4 m100.4 m

Retained Earnings

177 m174.5 m177.3 m183.5 m180.5 m180.4 m166.8 m151.5 m156.9 m157.3 m147 m135.9 m132.6 m102.9 m

Total Equity

279.8 m277.9 m281 m287.4 m284.9 m285.5 m272.6 m258.6 m264.9 m266.1 m256 m246.1 m243.8 m214.1 m

Financial Leverage

1.5 x1.5 x1.4 x1.4 x1.3 x1.3 x1.2 x1.3 x1.3 x1.3 x1.2 x1.3 x1.2 x1.3 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

7.2 m15.3 m(25.4 m)3.5 m(44.8 m)

Depreciation and Amortization

25.1 m26.4 m26.2 m25.4 m12.9 m

Accounts Receivable

(20 k)

Inventories

(6.3 m)1.2 m931 k6.5 m356 k

Accounts Payable

16.6 m(25.8 m)(26.7 m)(12.8 m)9.4 m

Cash From Operating Activities

38 m32.1 m10.6 m14.4 m(39.4 m)

Cash From Investing Activities

(20.8 m)(26.7 m)(6 m)2.7 m(1.1 m)

Long-term Borrowings

(45 m)(22 m)

Cash From Financing Activities

(5.5 m)(5.9 m)(5.9 m)(710 k)(1.7 m)

Interest Paid

843 k169 k165 k332 k349 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

10.3 m3.5 m7.8 m15.4 m83 k1.4 m(10.7 m)989 k6.5 m7.1 m(6.5 m)(17.4 m)(20.5 m)(5.3 m)

Depreciation and Amortization

18.7 m6.4 m13 m19.7 m6.6 m13.1 m19.7 m6.6 m12.9 m19.3 m4.7 m7.5 m10.1 m2.7 m

Inventories

(111 k)134 k542 k869 k(5 k)245 k508 k51 k(1.2 m)135 k175 k102 k

Accounts Payable

3.4 m(18.4 m)(33.4 m)(31.8 m)(14.5 m)(24.5 m)(25.4 m)(10.7 m)(7.5 m)(13.7 m)(520 k)10.3 m12.4 m494 k

Cash From Operating Activities

13.8 m(2.3 m)18.1 m20.3 m16.5 m23.2 m18.7 m(1.7 m)11.7 m19.3 m(15.1 m)(27.9 m)(29.6 m)(14.1 m)

Cash From Investing Activities

(12.5 m)(9.7 m)(20.4 m)(25.8 m)(1 m)(2.9 m)(5 m)3.8 m2 m(391 k)296 k(2.4 m)2.4 m

Cash From Financing Activities

(4.4 m)(1.5 m)(2.9 m)(4.4 m)(1.5 m)(2.9 m)(4.4 m)(146 k)(295 k)(440 k)(1 m)(1.2 m)(1.4 m)9.2 m

Free Cash Flow

(6.4 m)15.5 m20.2 m13.6 m(2.4 m)8.4 m13.9 m(15.5 m)(29.8 m)(34.1 m)(14.2 m)

Ratios

USDY, 2018

Financial Leverage

1.3 x
Report incorrect company information