Helix Energy Solutions Q2 Net Loss Narrows

(RTTNews) - Helix Energy Solutions Group Inc. (HLX) reported that its net loss for the second quarter of 2017 narrowed to $6.4 million or $0.04 per share, from $10.7 million or $0.10 per share for the same period in 2016. Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share. Analysts' estimates typically exclude special items

Owen Kratz, President and Chief Executive Officer of Helix, stated, "Our second quarter results benefited from a strong quarter for our well intervention business in the North Sea and the Gulf of Mexico."

Net revenues $150.33 million from $107.27 million in the prior year.

On July 18, 2017, the Board of Directors elected to separate the positions of Chairman of the Board and Chief Executive Officer, and appointed William Transier, who has been a director since 2000 and has served as Lead Independent Director since March of 2016, as Chairman of the Board.