Overview

• US deepwater energy equipment firm's Q1 revenue rose 56% yr/yr to $8.2 mln

• Company posted net income of $241,000, reversing a loss in the year-ago quarter

• Growth driven by increased fixed-price contracts and new service projects

Outlook

• Company says growth trajectory is sustainable, citing increased revenue from new clients

• Koil Energy sees global subsea market as highly attractive, with growth in greenfield and tie-back projects

• Company says subsea tie-backs remain a core area of expertise and opportunity

Result Drivers

• FIXED-PRICE CONTRACTS - Co said a significant increase in fixed-price contract activity drove revenue growth

• NEW CONTRACT WINS - Co highlighted several major contract awards, including a manufacturing contract with an international offshore installation company and a subsea distribution system project in the Gulf of America

• NEW CLIENT CONTRIBUTIONS - Revenue from clients added last year contributed a greater share of Q1 revenue

Company press release: ID:nGNX6hZ5t9

Key Details

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.