Steel Excel Profit Rises On Strong Revenue Growth

(RTTNews) - Steel Excel Inc (SXCL.PK), which operates Energy and Sports segments, Friday reported first-quarter net income of $4.4 million or $0.37 per share, compared with $3.3 million or $0.26 per share last year.

Revenues for the quarter climbed to $45.2 million from $26.4 million last year.

Looking ahead to the second quarter, the company projects revenues of $44 million to $54 million.

For fiscal 2014, the company continues to expect revenues of $180 million to $220 million and adjusted EBITDA of $9 million to $11 million.

Adjusted EBITDA for 2014 is now expected to be in the range of $35 million to $43 million, down from prior guidance of $38.5 million to $47.5 million.