Seacor profits on higher revenue

Celebrate: US-based Seacor saw profits rise during the first quarter of the year

US-based offshore service provider Seacor Holdings posted a rise in profits during the first quarter of the year, boosted by the sale of some of its oil spill response services arms and higher revenues.

The company’s net income for the first three months of the year was $36.5 million, up from $11.7 million during the first quarter of 2011.

Boosting profits was the $19.4 million net income booked from discontinued operations following the disposal of certain companies and assets that were part of its environmental services business segment for a net sales price of $99.9 million during the quarter.

Seacor also saw revenues grow, generating nearly $497.9 million during the first quarter of 2012 compared to $438 million during the same period a year ago.

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