Net cash provided by operating activities $31.33 million (+1675%)
Operating income $22.96 million (+66%)
Net income $15.22 million (+105%)
EPS $0.22 (+57%)
Balance sheet
Assets
Current 149.77 million
Total 1,170.78 million
Liabilities
Current 155.24 million
Total 717.31 million
Equity 453.47 million
P/E (-), P/B 0.49
Quotes:
"Scorpion’s contract backlog stands at US $821 million"
"Scorpion requires approximately $40 million in additional funds to finance the start-up of the Offshore Intrepid and Offshore Freedom charter contracts. In addition, under the Company’s investment program, it is currently anticipated that there is an unfunded amount of approximately USD 74 million to complete construction of the Offshore Mischief. Such funds will be required to make payments scheduled from November 1, 2009 onwards. It is envisaged that the funds will be raised in the form of bank debt and equity"
"Although the Company continues to market the Offshore Mischief for drilling operations, the Company is also pursuing sale of the rig"
Report(pdf)
Today(May 23):
"Scorpion International Ltd., a wholly-owned subsidiary of Scorpion Offshore Ltd., received a letter of intent (LOI) from Thanglong Joint Operating Company to extend the current contract for the Offshore Resolute. This LOI is in direct continuation of the current program offshore Vietnam and has a duration of 6 months beginning early August 2009. The estimated LOI value is approximately US$ 27 million"
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