Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of GulfMark Offshore
So what: Revenue increased 7% from a year ago to $103.8 million, topping estimates of $101.7 million in revenue from analysts. But the bottom line wasn't as strong: $0.54 of earnings per share fell below estimates of $0.71.
Now what: Management was optimistic but still cautious about an improving economy helping improve operations in the future. During the quarter, GulfMark commissioned construction on six new vessels, so management obviously thinks there are growth opportunities available. I'm not seeing this drop as a great buying opportunity, but keep an eye on the impact pricing and new vessels have on results in coming quarters.
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