Gulf Island Fabrication Goes Red

Just the facts, Fool.

Seth Jayson
Seth Jayson
Mar 12, 2013 at 12:00AM
Other

Gulf Island Fabrication (Nasdaq: GIFI) reported earnings on March 12. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Gulf Island Fabrication missed estimates on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share shrank to a loss.

Margins contracted across the board.

Revenue details
Gulf Island Fabrication reported revenue of $129.2 million. The four analysts polled by S&P Capital IQ hoped for sales of $140.5 million on the same basis. GAAP reported sales were 46% higher than the prior-year quarter's $88.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.56. The three earnings estimates compiled by S&P Capital IQ predicted $0.56 per share. GAAP EPS were -$0.56 for Q4 compared to $0.12 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 4.0%, 190 basis points worse than the prior-year quarter. Operating margin was -9.3%, much worse than the prior-year quarter. Net margin was -6.3%, 830 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)


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Looking ahead
Next quarter's average estimate for revenue is $124.2 million. On the bottom line, the average EPS estimate is $0.49.

Next year's average estimate for revenue is $451.4 million. The average EPS estimate is $1.83.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 362 members out of 379 rating the stock outperform, and 17 members rating it underperform. Among 78 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 give Gulf Island Fabrication a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulf Island Fabrication is hold, with an average price target of $32.33.

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