Siem Industries Inc. Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2015
Siem Industries Inc. reported unaudited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported operating revenues of $315,138,000 compared to $188,797,000 a year ago. Total income was $706,648,000 compared to $510,113,000 a year ago. Income before income tax expense was $206,727,000 compared to $262,760,000 a year ago. Net income attributable to holders of common shares was $228,844,000 or $15.12 per basic and diluted share compared to $260,832,000 or $17.23 per basic and diluted share a year ago. Net cash provided by operating activities was $99,120,000 compared to $10,682,000 a year ago. Capital expenditures for vessels, shipping related assets and other were $124,730,000 compared to $6,525,000 a year ago.