$139.1 M

GIFI Mkt cap, 11-Oct-2018

$111.3 M

Gulf Island Fabrication Revenue Q2, 2018
Gulf Island Fabrication Gross profit (Q2, 2018)-20 K
Gulf Island Fabrication Gross profit margin (Q2, 2018), %0%
Gulf Island Fabrication Net income (Q2, 2018)-4.7 M
Gulf Island Fabrication EBIT (Q2, 2018)-11.2 M
Gulf Island Fabrication Cash, 30-Jun-201832 M

Gulf Island Fabrication Income Statement

Annual

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

Revenue

608.3m506.6m306.1m286.3m171.0m

Revenue growth, %

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

Cost of goods sold

584.7m

Gross profit

23.7m

Gross profit Margin, %

4%

General and administrative expense

19.7m17.8m

Operating expense total

19.7m17.8m

EBIT

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

EBIT margin, %

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

Interest expense

237.0k165.0k332.0k349.0k

Interest income

3.0k26.0k24.0k

Pre tax profit

11.5m(38.7m)(69.0m)

Income tax expense

4.3m(13.4m)2.0m(24.2m)

Net Income

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

Quarterly

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

Revenue

168.2m84.3m67.5m84.0m81.5m65.4m38.0m45.9m49.9m57.3m111.3m

Cost of goods sold

159.1m78.5m75.4m78.3m67.4m60.1m42.9m57.5m50.4m56.6m111.3m

Gross profit

9.1m5.8m(7.8m)5.7m14.1m5.3m(4.9m)(11.6m)(494.0k)679.0k(20.0k)

Gross profit Margin, %

5%7%(12%)7%17%8%(13%)(25%)(1%)1%0%

General and administrative expense

3.7m3.7m3.8m4.5m5.1m5.1m3.9m4.6m4.4m4.7m9.8m

Operating expense total

3.7m3.7m3.8m4.5m5.1m5.1m3.9m4.6m4.4m4.7m9.8m

EBIT

5.3m2.1m(18.2m)1.2m9.0m173.0k(9.2m)(16.3m)(4.9m)(4.8m)(11.2m)

EBIT margin, %

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

Interest expense

43.0k50.0k39.0k50.0k88.0k110.0k59.0k158.0k45.0k469.0k238.0k

Interest income

2.0k7.0k8.0k6.0k2.0k12.0k12.0k

Pre tax profit

5.3m2.1m(18.3m)1.6m9.0m(5.2m)(4.6m)

Income tax expense

2.0m696.0k(6.1m)581.0k3.4m133.0k(2.8m)(5.7m)(1.8m)59.0k142.0k

Net Income

3.3m7.8m15.4m83.0k1.4m(12.1m)989.0k5.5m541.0k(6.5m)(10.9m)(3.1m)(5.3m)(4.7m)

Gulf Island Fabrication Balance Sheet

Annual

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

Cash

36.6m36.1m34.8m51.2m9.0m

Accounts Receivable

20.0k3.4m

Inventories

11.3m10.1m12.9m12.0m4.9m

Current Assets

202.0m172.5m115.9m113.4m179.2m

PP&E

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

Total Assets

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

Accounts Payable

66.1m40.3m13.6m9.0m18.4m

Short-term debt

Current Liabilities

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

Long-term debt

Total Liabilities

59.4m51.3m

Additional Paid-in Capital

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

Retained Earnings

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

Total Equity

275.6m285.8m257.2m263.0m219.5m

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, 2018Q2, 2018

Cash

21.8m23.2m31.4m26.7m50.1m53.4m45.3m39.2m50.1m55.6m34.7m22.3m17.8m6.5m32.0m

Inventories

5.1m11.2m10.8m10.5m10.1m9.9m13.3m17.8m18.9m18.3m11.8m11.9m12.3m5.1m5.6m

Current Assets

189.0m173.1m147.2m160.0m153.3m141.1m127.3m119.0m125.6m123.3m210.8m214.1m209.6m178.1m168.8m

PP&E

223.0m234.7m231.9m230.6m220.4m215.8m211.4m217.4m213.7m211.2m91.0m90.7m91.0m86.0m81.8m

Total Assets

426.2m408.5m379.8m391.2m374.3m357.5m339.3m339.2m342.0m337.2m304.7m307.6m303.4m269.1m256.7m

Accounts Payable

52.9m54.6m32.6m34.3m25.8m15.8m14.9m8.9m12.1m8.7m8.5m19.3m21.5m18.9m16.0m

Current Liabilities

108.9m93.4m62.6m66.9m51.5m34.9m33.2m51.9m50.0m43.5m27.9m46.4m45.6m41.0m36.1m

Total Liabilities

146.4m130.5m98.8m103.8m89.5m72.1m66.7m80.5m77.1m71.1m48.7m61.5m59.5m55.0m41.3m

Additional Paid-in Capital

92.8m93.4m93.6m93.9m94.2m94.9m95.5m96.7m97.5m98.3m98.4m99.4m100.4m100.4m101.0m

Retained Earnings

177.0m174.5m177.3m183.5m180.5m180.4m166.8m151.5m156.9m157.3m147.0m135.9m132.6m102.9m103.5m

Total Equity

279.8m277.9m281.0m287.4m284.9m285.5m272.6m258.6m264.9m266.1m256.0m246.1m243.8m214.1m215.4m

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 x1.2 x

Gulf Island Fabrication Cash Flow

Annual

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

Net Income

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

Depreciation and Amortization

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

Accounts Receivable

(20.0k)

Inventories

(6.3m)1.2m931.0k6.5m356.0k

Accounts Payable

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

Cash From Operating Activities

38.0m32.1m10.6m14.4m(39.4m)

Cash From Investing Activities

(20.8m)(26.7m)(6.0m)2.7m(1.1m)

Long-term Borrowings

(45.0m)(22.0m)

Cash From Financing Activities

(5.5m)(5.9m)(5.9m)(710.0k)(1.7m)

Interest Paid

843.0k169.0k165.0k332.0k349.0k

Quarterly

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

Net Income

10.3m3.5m7.8m15.4m83.0k1.4m(10.7m)989.0k6.5m7.1m(6.5m)(17.4m)(20.5m)(5.3m)(4.7m)

Depreciation and Amortization

18.7m6.4m13.0m19.7m6.6m13.1m19.7m6.6m12.9m19.3m4.7m7.5m10.1m2.7m5.4m

Inventories

(111.0k)134.0k542.0k869.0k(5.0k)245.0k508.0k51.0k(1.2m)135.0k175.0k102.0k

Accounts Payable

3.4m(18.4m)(33.4m)(31.8m)(14.5m)(24.5m)(25.4m)(10.7m)(7.5m)(13.7m)(520.0k)10.3m12.4m494.0k(2.4m)

Cash From Operating Activities

13.8m(2.3m)18.1m20.3m16.5m23.2m18.7m(1.7m)11.7m19.3m(15.1m)(27.9m)(29.6m)(14.1m)(26.4m)

Cash From Investing Activities

(12.5m)(9.7m)(20.4m)(25.8m)(1.0m)(2.9m)(5.0m)3.8m2.0m(391.0k)296.0k(2.4m)2.4m50.2m

Cash From Financing Activities

(4.4m)(1.5m)(2.9m)(4.4m)(1.5m)(2.9m)(4.4m)(146.0k)(295.0k)(440.0k)(1.0m)(1.2m)(1.4m)9.2m(798.0k)

Free Cash Flow

(6.4m)15.5m20.2m13.6m(2.4m)8.4m13.9m(15.5m)(29.8m)(34.1m)(14.2m)(27.3m)

Gulf Island Fabrication Ratios

USDY, 2018

Financial Leverage

1.2 x
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