OMNI ENERGY SERVICES CORP. announced today that, excluding unforeseen weather and permit delays, it now expects its fiscal 2007 net income to range between $17.0 and $19.0 million ($0.65 to $0.73 per diluted share based on 26.0 weighted average diluted shares outstanding) with projected revenues now expected to range between $180 and $185 million, a 82% to 87% increase over revenues reported for fiscal 2006. The Company also said it now expects its earnings before interest, taxes, depreciation and amortization, and loss on debt extinguishment
For the fiscal year ended December 31, 2006, on revenues of $99.0 million, OMNI reported net income of $9.2 million ($0.38 per diluted share on 24.5 million weighted average diluted shares outstanding) excluding the realization of deferred tax assets totaling $12.6 million. Adjusted EBITDA reached $25.4 million for the same twelve month period.
