Paratus Energy Reports Net Income From Cont. Ops. In Q1

(RTTNews) - Paratus Energy Services (PLSV.OL) reported, under US GAAP, first quarter net income from continuing operations of $19.4 million compared to a loss of $13.3 million, prior year. Profit per share from continuing operations was $0.12 compared to a loss of $0.08. Operating income increased to $33.0 million from $19.0 million.

On management reporting basis, net income from continuing operations increased to $19.4 million from $16.0 million. Adjusted EBITDA was $45.6 million compared to $49.6 million. On management reporting basis, contract revenues were $74.9 million compared to $73.5 million.

Paratus said its Board of Directors has authorized a quarterly cash distribution of $0.22 per share for first quarter.

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