Siem Industries Inc. Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2016
Siem Industries Inc. reported audited consolidated earnings results for the full year ended December 31, 2016. For the year, operating Revenue was $772,406,000 against $315,138,000 a year ago. Loss before income tax expense was $110,704,000 against income before income tax expense of $206,727,000 a year ago. Net loss attributable to the company was $73,632,000 against net income attributable to the company of $228,844,000 a year ago. Net cash provided by operating activities was $27,307,000 against $99,120,000 a year ago. Capital expenditures for vessels, shipping-related assets and other were $463,422,000 against $124,730,000 a year ago. Basic and diluted loss per common share was $4.86 against basic and diluted earnings per common share of $15.12 a year ago.