EMAS Offshore Limited announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2015. For the quarter, the company reported revenue or $59,241,000 against $70,005,000 a year ago. Profit from operations was $1,893,000 against $3,199,000 a year ago. Profit before income tax was $5,787,000 against $1,857,000 a year ago. Total comprehensive loss for the financial period attributable to equity holder of the company was $4,468,000 against total comprehensive income for the financial period attributable to equity holder of the company of $2,624,000 a year ago. Earnings per share were 0.012 cents against 0.001 cents a year ago. Revenue decrease was mainly due to weakness in both the shallow water anchor handling, towing and supply vessels (‘AHTS') and shallow water platform support vessels (‘PSV') 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 $9,882,000 against $23,524,000 a year ago. Purchase of property, plant and equipment was $12,962,000 against $63,462,000 a year ago. Net asset value per ordinary share was $1.15 as on May 31, 2015 against $2.84 as on May 31, 2015.

For the nine months, the company reported revenue or $192,863,000 against $217,596,000 a year ago. Profit from operations was $157,450,000 against $21,310,000 a year ago. Profit before income tax was $166,851,000 against $17,738,000 a year ago. Total comprehensive income for the financial period attributable to equity holder of the company was $120,349,000 against $20,806,000 a year ago. Basic and diluted earnings per share were 0.39 cents against 0.05 cents a year ago. Net cash flow used in operating activities was $8,868,000 against $14,316,000 a year ago. Purchase of property, plant and equipment was $16,957,000 against $81,959,000 a year ago. EBITDA was $209,949,000 against $49,554,000 a year ago. EBIT was $176,440,000 against $24,364,000 a year ago. Return on equity was 39.7% against 4.7% a year ago. Net interest bearing debt was $538,718,000 against $401,458,000 a year ago.