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Gulf Island Fabrication posts 1Q loss

HOUSTON (AP) _ Gulf Island Fabrication Inc. (GIFI) on Wednesday reported a first-quarter loss of $6.5 million, after reporting a profit in the same period a year earlier.

The Houston-based company said it had a loss of 44 cents per share. Losses, adjusted for pretax expenses, came to 43 cents per share.

The builder of structures for the offshore petroleum industry posted revenue of $38 million in the period.

Gulf Island Fabrication shares have dropped 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.55, an increase of 40 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIFI at https://www.zacks.com/ap/GIFI


Keywords: Gulf Island Fabrication, Earnings Report