STX OSV just released their FY 2012 results. Initially, the results may come as a shock to many, especially the eye bulging numbers on drop in revenue and profit. However, if you have been following STX OSV closely, then the number shouldn’t be too surprising. Citi and DMG research actually projected similar numbers, although the actual came in slightly lower.

 

Citi 14th Feb Research Report Summary

The Citi research dated 14 Feb estimates for 2012 was 997 NOK mil.

 

OSK DMG 15th Feb Research Report Extract

The OSK DMG research dated 15 Feb estimates for 2012 was 1026 NOK mil.

STX OSV FY 2012 P&L Summary

The actual report net profit is 889 NOK mil, which is 13% lower than DMG’s estimate of 1,026 NOK mil and 11% lower than Citi’s estimate of 997 NOK mil. So the results are not that far off, as we most analysts ...

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