NEWS RELEASE
Exhibit 99.1
For further information contact:
Kerry J. Chauvin Joseph "Duke" Gallagher Chief Executive Officer Chief Financial Officer
(504) 872-2100 (504) 872-2100
FOR IMMEDIATE RELEASE
THURSDAY, APRIL 27, 2000
GULF ISLAND FABRICATION, INC.
REPORTS FIRST QUARTER EARNINGS
Houma, LA - Gulf Island Fabrication, Inc. (NASDAQ: GIFI) today reported net income of $1.1 million ($.09
diluted EPS) on revenue of $31.7 million for its first quarter ended March 31, 2000, compared to net income of
$1.9 million ($.17 diluted EPS) on revenue of $30.3 million for the first quarter ended March 31, 1999.
At March 31, 2000, the company had a revenue backlog of $29.5 million and a labor backlog of approximately
526 thousand man-hours remaining to work.
SELECTED BALANCE SHEET INFORMATION
(in thousands)
Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading fabricator of offshore drilling and
production platforms, offshore living quarters and other specialized structures used in the development and
production of offshore oil and gas reserves. The Company also offers offshore interconnect pipe hook-up,
inshore marine construction, manufacture and repair of pressure vessels, steel warehousing and sales.
Exhibit 99.1
GULF ISLAND FABRICATION, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(in thousands, except per share data)
March 31, December 31,
2000 1999
__________ ____________
Cash and short-term investments $ 16,184 $ 15,750
Total current assets 48,900 47,154
Property, plant and equipment, at cost, net 42,681 43,664
Total assets 95,846 95,049
Total current liabilities 14,824 15,367
Debt