FORT LAUDERDALE, FL--(Marketwired - Apr 11, 2013) - On January 31, 2013, SEACOR Holdings Inc. ("SEACOR") (
For informational purposes, the accompanying consolidated balance sheets of SEACOR as of December 31, 2012, 2011, 2010, 2009 and 2008, and the related consolidated statements of income and cash flows for each of the five years in the period ended December 31, 2012, present Era Group as a discontinued operation in addition to the operations previously reported as discontinued in SEACOR's most recent Annual Report on Form 10-K filed with the SEC on February 27, 2013.
SEACOR is a global provider of equipment and services primarily supporting the offshore oil and gas and marine transportation industries. SEACOR offers customers a diversified suite of services including offshore marine, inland river and shipping. SEACOR is focused on providing highly responsive local service combined with the highest safety standards, innovative technology, modern, efficient equipment and dedicated professional employees. SEACOR is publicly traded on the New York Stock Exchange (NYSE) under the symbol CKH.
Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as "anticipate," "estimate," "expect," "project," "intend," "believe," "plan," "target," "forecast" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, including decreased demand and loss of revenues as a result of U.S. government implemented moratoriums directing operators to cease certain drilling activities and any extension of such moratoriums (the "Moratoriums"), weakening demand for the Company's services as a result of unplanned customer suspensions, cancellations, rate reductions or non-renewals of vessel charters or failures to finalize commitments to charter vessels in response to Moratoriums, increased government legislation and regulation of the Company's businesses could increase cost of operations, increased competition if the Jones Act is repealed, liability, legal fees and costs in connection with the provision of emergency response services, including the Company's involvement in response to the oil spill as a result of the sinking of the Deepwater Horizon in April 2010, decreased demand for the Company's services as a result of declines in the global economy, declines in valuations in the global financial markets and a lack of liquidity in the credit sectors, including, interest rate fluctuations, availability of credit, inflation rates, change in laws, trade barriers, commodity prices and currency exchange fluctuations, the cyclical nature of the oil and gas industry, activity in foreign countries and changes in foreign political, military and economic conditions, changes in foreign and domestic oil and gas exploration and production activity, safety record requirements related to Offshore Marine Services and Shipping Services, decreased demand for Shipping Services due to construction of additional refined petroleum product, natural gas or crude oil pipelines or due to decreased demand for refined petroleum products, crude oil or chemical products or a change in existing methods of delivery, compliance with U.S. and foreign government laws and regulations, including environmental laws and regulations, the dependence of Offshore Marine Services and Shipping Services on several customers, consolidation of the Company's customer base, the ongoing need to replace aging vessels, industry fleet capacity, restrictions imposed by the Shipping Acts on the amount of foreign ownership of the Company's Common Stock, operational risks of Offshore Marine Services and Shipping Services, effects of adverse weather conditions and seasonality, the level of grain export volume, the effect of fuel prices on barge towing costs, variability in freight rates for inland river barges, the effect of international economic and political factors in Inland River Services' operations, sudden and unexpected changes in commodity prices, futures and options, global weather conditions, political instability, changes in currency exchanges rates, and product availability in agriculture commodity trading and logistics activities, adequacy of insurance coverage, the attraction and retention of qualified personnel by the Company, and various other matters and factors, many of which are beyond the Company's control as well as those discussed in Item 1A (Risk Factors) of the Company's Annual report on Form 10-K. In addition, these statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. It should be understood that it is not possible to predict or identify all such factors. Consequently, the following should not be considered to be a complete discussion of all potential risks or uncertainties. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any).
| SEACOR HOLDINGS INC. CONSOLIDATED BALANCE SHEETS (in thousands, unaudited) | ||||||||||||||||||
| December 31, | ||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||
| ASSETS | ||||||||||||||||||
| Current Assets: | ||||||||||||||||||
| Cash and cash equivalents | $ | 248,204 | $ | 381,482 | $ | 354,563 | $ | 451,041 | $ | 264,761 | ||||||||
| Restricted cash | 28,285 | 21,281 | 12,651 | 34,014 | 20,787 | |||||||||||||
| Marketable securities | 21,668 | 66,898 | 147,409 | 68,139 | 53,817 | |||||||||||||
| Receivables: | ||||||||||||||||||
| Trade, net of allowance for doubtful accounts | 224,944 | 231,288 | 216,297 | 231,698 | 204,814 | |||||||||||||
| Other | 45,334 | 43,631 | 63,442 | 68,817 | 33,680 | |||||||||||||
| Inventories | 25,787 | 12,958 | 9,927 | 36,837 | 44,716 | |||||||||||||
| Deferred income taxes | 3,530 | 9,007 | 4,127 | 3,158 | 4,363 | |||||||||||||
| Prepaid expenses and other | 12,719 | 7,311 | 7,729 | 6,470 | 6,559 | |||||||||||||
| Discontinued operations | 108,153 | 266,691 | 328,657 | 143,743 | 115,981 | |||||||||||||
| Total current assets | 718,624 | 1,040,547 | 1,144,802 | 1,043,917 | 749,478 | |||||||||||||
| Property and Equipment: | ||||||||||||||||||
| Historical cost | 2,238,383 | 1,986,731 | 1,873,001 | 2,050,713 | 1,988,093 | |||||||||||||
| Accumulated depreciation | (763,803 | ) | (665,553 | ) | (620,161 | ) | (586,118 | ) | (473,571 | ) | ||||||||
| 1,474,580 | 1,321,178 | 1,252,840 | 1,464,595 | 1,514,522 | ||||||||||||||
| Construction in progress | 110,296 | 119,479 | 70,123 | 57,738 | 97,145 | |||||||||||||
| Net property and equipment | 1,584,876 | 1,440,657 | 1,322,963 | 1,522,333 | 1,611,667 | |||||||||||||
| Investments, at Equity, and Advances to 50% or Less Owned Companies | 272,535 | 199,490 | 152,315 | 158,306 | 120,808 | |||||||||||||
| Construction Reserve Funds & Title XI Reserve Funds | 195,629 | 259,974 | 323,885 | 289,750 | 305,757 | |||||||||||||
| Goodwill | 17,978 | 56,702 | 53,413 | 46,205 | 43,119 | |||||||||||||
| Intangible Assets, Net | 15,305 | 21,528 | 19,745 | 23,430 | 28,250 | |||||||||||||
| Other Assets | 55,123 | 86,961 | 50,256 | 37,704 | 33,148 | |||||||||||||
| Discontinued Operations | 840,724 | 822,275 | 693,010 | 601,974 | 567,427 | |||||||||||||
| $ | 3,700,794 | $ | 3,928,134 | $ | 3,760,389 | $ | 3,723,619 | $ | 3,459,654 | |||||||||
| LIABILITIES AND EQUITY | ||||||||||||||||||
| Current Liabilities: | ||||||||||||||||||
| Current portion of long-term debt | $ |
 test123 kjk Scroll down for more posts ▼
Top 10 Most Recent News Articles
QuickFi Nabs Top Finovate Award for Fourth TimeAn Unstoppable Force in Fintech Well, if QuickFi hasn't made a name for itself in fintech, then folks, I don't know what to tell you. This year, they’ve snagged yet another prestigious Finovate Award—this time for Best SMB/SME Banking Solution. That's not their first rodeo either; it’s the fourth time they’ve walked away winners. It's almost like they're... Continue Reading
Americas Cardroom's Poker Series Hits $7.2M HaulMassive Prize Pools Emerge in Just Four Days I found myself eyeballing some jaw-dropping numbers from Americas Cardroom's latest poker series, the Online Super Series XL. It's not every day you see nearly a hundred tournaments rake in over $7.2 million in prize pools in just four days. From September 6th to 9th, a whopping 62,847 entries signed up to make an honest... Continue Reading
Lick the Plate Hits 2,000 Shows with Clown BandThey say good things come in bizarre packages, and that's exactly the case as David Boylan's Lick the Plate zany celebration marks 15 years on air with its 2,000th episode. If you think of radio as a predictable endeavor, well, you're not tuned into Lick the Plate. A Milepost Draped in Multicolored Fabrics When you're browsing through colorful avenues of radio fame, it's... Continue Reading
Streamlined AI Video Analytics for Public Safety UnveiledAI Without the Headache Alright folks, IREX is shaking things up, and not in the usual iterative, bit-by-bit tech progression way. StreamVLM™ has been rolled out as the world's first vision-language model (VLM) analytics engine tailored for the public safety sector—specifically, for cloud platforms. I’ve been around the block enough times to spot a significant shift... Continue Reading
Oil Markets Shift Focus: Pipelines Trump DrillingDecoupling Oil Price and Production Response This oil market isn’t your usual rodeo. With Brent flirting with $100, it’s a seismic shift that’s not yielding new drills but redirecting capital to the existing infrastructure landscape. Ask yourself why we're not seeing the usual cavalry charge of new rigs. It’s simple: Pipeline mileage and producing wells have... Continue Reading
NYSE Reflects on 9/11: Honoring Lives and LegacyA Somber Day at NYSE: Reflecting on 9/11 September 11th grips the heart of NYSE every year, but this year's 25th-anniversary powerfully reverberates through its hallowed halls. The hustle of the trading floor halts for a moment at 9:20 AM ET, paying homage to those lost in the harrowing attacks. I've seen the markets flap in the wind of countless crises, but nothing's... Continue Reading
DCM Services Teams with AKUVO to Boost Estate RecoveriesRevolutionizing Estate Recovery Practices Here's the scoop: DCM Services (DCMS), that big shot in estate account resolution, is hooking up with AKUVO to shake up how credit unions handle estate recoveries. This alliance is a clear nod to modernizing a process stuck in the past. Let’s face it, handling decedent and probate accounts is no cakewalk, and traditional methods... Continue Reading
Supply Maverick Simplifies Global Shipping ProcessesPaving the Way for Seamless International Shipping Supply Maverick's got a new mantra, folks: simplicity. They're slicing through the mess of international shipping and bringing some much-needed clarity for customers in Canada, Australia, and New Zealand. It’s about time someone shook up the logistics playbook. The Nuts and Bolts of the New Shipping System Imagine being... Continue Reading
Fermi's Founder Pushes for Board Overhaul: What's Next?Fermi's Roller Coaster: A Founder’s Stand Seems like Fermi Inc. is on a wild ride through the business landscape, and it's giving shareholders more whiplash than satisfaction these days. Toby Neugebauer, co-founder of Fermi and the loudest voice in the room, is feeling like his company is facing some serious turbulence and seems determined not to sit idly by as it hits... Continue Reading
2026 Buy-Side Index Reveals State Market VarianceToss out your one-size-fits-all real estate predictions; the Q2 2026 Buy-Side Index just unveiled some real whoppers about the housing market. What we're seeing isn't your typical year-over-year growth across the board. Nope, we're seeing splits as sharp as a knife between states. Some places are shooting up in price, while others seem to be stuck in mud. Price Surges and... Continue ReadingTop 5 Most Recently Viewed Articles
Sany Heavy Industry Prepares for Major IPO Launch in Hong KongExciting Times Ahead for Sany Heavy Industry Sany Heavy Industry Co. Ltd. is set to debut on the Hong Kong Stock Exchange, making its IPO highly anticipated as it has raised significant interest among investors. This listing is positioned to be the third largest in Hong Kong this year, with expectations to raise approximately $1.5 billion. IPO Details The company has... Continue Reading
Insights on Bekaert's Share Buyback Initiative and Liquidity StrategyUpdates on Bekaert's Share Buyback Program On November 21, Bekaert made the exciting announcement about the new tranche of its share buyback program. The company set a maximum consideration of €25 million to be invested in the repurchase of its own shares. The overarching goal of this program is to cancel all the shares that are repurchased, effectively boosting... Continue Reading
Exceptional Growth: Coffee Holding Co., Inc. Sees Record ResultsRemarkable Year for Coffee Holding Co., Inc. Coffee Holding Co., Inc. (NASDAQ: JVA) has announced impressive results for its fiscal year ended October 31, 2024. With net sales increasing by 15% compared to the previous fiscal year, the company is celebrating one of its strongest performances in its history. Strong Financial Performance The company reported a notable... Continue Reading
MicroSalt Expands Market Presence with New Bulk OrdersMicroSalt Secures New Bulk Orders MicroSalt plc (AIM: SALT) is at the forefront of innovation with its unique low-sodium salt that delivers a full flavor experience while retaining only half the sodium content of traditional options. The company is thrilled to announce that it has successfully landed a series of bulk purchase orders, broadening its footprint in the food... Continue Reading
Collaborative Efforts of Gradial and Stagwell to Innovate MarketingIntroducing the Gradial and Stagwell Partnership The marketing landscape is evolving rapidly, and brands need to stay agile to meet consumer demands. In this dynamic environment, a new partnership among innovative companies brings a potent solution. Gradial, a leader in agentic AI technology, joins forces with Stagwell (NASDAQ: STGW), a forward-thinking company known for... Continue Reading | ||||||||||||||||