JOC Staff | Feb 28, 2013 11:57AM EST
Seacor Holdings reported a net loss of $2.7 million in the fourth quarter of 2012, including a loss from continuing operations of $8.3 million, dropping from a profit of $17.0 million in the fourth quarter of 2011.
The loss from continuing operations included compensation expenses of $9.8 million, net of tax, related to the acceleration of restricted stock awards that were originally scheduled to vest in 2013 and 2014, as well as equity in losses of 50 percent or less owned companies of $9.7 million, net of tax.
Conversely, for the full year of 2012, net income was $60.4 million, jumping 43 percent from $42.2 million in 2011.
“During 2012, we sold our environmental remediation and response business, and in December, we concluded a transaction to contribute our environmental consulting business into a joint venture,” said Charles Fabrikant, executive chairman of the board, in a written statement. He also noted that the marine assets company sold its energy trading business.