EMAS Offshore Limited announced unaudited consolidated earnings results for the fourth quarter and year ended August 31, 2015. For the quarter, the company reported revenue or $54,308,000 against $67,439,000 a year ago. Profit from operations was $37,269,000 against $14,500,000 a year ago. Profit before income tax was $40,666,000 against $12,963,000 a year ago. Profit after income tax was $36,295,000 against $12,936,000 a year ago. Earnings per share were 0.08 cents against 0.05 cents a year ago. Revenue decrease was mainly due to weakness in both the shallow water platform support vessels and anchor handling, towing and supply vessels (‘AHTS') segment. This decrease is partially offset by contribution from the Production segment as a result of the reverse acquisition on 3 October 2014. Net cash flow used in operating activities was $3,328,000 against $4,890,000 a year ago. Purchase of property, plant and equipment was $20,654,000 against $2,326,000 a year ago.

For the year, the company reported revenue or $247,171,000 against $285,035,000 a year ago. Profit from operations was $194,719,000 against $35,810,000 a year ago. Profit before income tax was $207,517,000 against $30,701,000 a year ago. Profit after income tax was $199,544,000 against $27,491,000 a year ago. Earnings per share were 0.47 cents against 0.10 cents a year ago. Net cash flow used in operating activities was $8,944,000 against $19,414,000 a year ago. Purchase of property, plant and equipment was $37,611,000 against $84,285,000 a year ago. EBITDA was $266,899,000 against $74,443,000 a year ago. EBIT was $221,086,000 against $39,921,000 a year ago. Return on equity was 47.0% against 8.8% a year ago. Net interest bearing debt was $557,195,000 against $401,458,000 a year ago. Net asset value per ordinary share was $1.22 as on August 31, 2015 against $2.84 as on August 31, 2015.