Gulf Island Fab Reports Q1 2014 Revenue Increase

Houston headquartered Gulf Island Fabrication, Inc. reported net income of $3.5 million ($0.24 earnings per share) on revenue of $134.7 million for its first quarter ended March 31, 2014, compared to net income of $2.8 million ($0.19 earnings per share) on revenue of $150.4 million for the first quarter ended March 31, 2013.

The company had a revenue backlog of $271.4 million and a labor backlog of approximately 2.5 million man-hours at March 31, 2014, including commitments received through April 14, 2014, compared to a revenue backlog of $358.7 million and a labor backlog of 3.3 million man-hours reported as of December 31, 2013.

About the Company
Gulf Island Fabrication, Inc., based in Houston, Texas, with fabrication facilities located in Houma, Louisiana, and San Patricio County, Texas, is a leading fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves.

They also provide offshore interconnect pipe hook-up, inshore marine construction, manufacture and repair of pressure vessels, heavy lifts such as ship integration and TLP module integration, loading and offloading of jack-up drilling rigs, semi-submersible drilling rigs, TLPs, SPARs, or other similar cargo, onshore and offshore scaffolding, piping insulation services, and steel warehousing and sales.