3SOF

GLBL - Global Industries, Ltd.

Profile:  Global Industries, Ltd. provides construction services to the offshore oil and gas industry primarily in the United States Gulf of Mexico. Its services include pipeline construction, platform installation and removal, diving services, and construction support. The company also operates construction vessels. As of December 31, 2005, its fleet consisted of 16 major construction vessels, such as barges, ships, and small waterplane area twin hull vessel; 4 cargo launch barges; 14 dive support vessels; and 5 other miscellaneous offshore support vessels. The company also leases or charters other vessels and equipment, such as tugboats, cargo barges, utility boats, dive support vessels, and saturation diving systems. Its customers primarily include oil and gas producers and pipeline companies. Global Industries was founded by William J. Dore in 1973. The company is headquartered in Carlyss, Louisiana.

Sector:    Industrial Goods
Industry:    Heavy Construction
Mkt Cap:       1.78 Billion

News and Trend

GLBL had excellent news released after the bell

QuoteGlobal Ind. awarded $130 million pipeline contract
Tue Apr 18, 2006 6:57 PM ET
http://yahoo.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?storyID=urn:newsml:reuters.com:20060418:MTFH53936_2006-04-18_22-58-14_WEN4822&symbol=GLBL.O&rpc=44

With oil prices rising and strong forcasted growth(forward PE of 14.93).. GLBL seems well positioned to appreciate.

Technicals

There was a 52 week high breakout with volume today from a strong tight pattern.  After a nice 6 month basing period GLBL has a nice uptrend in place.

Long-term:




Short-term:




Trade Plan

GLBL is at the right place in its chart and at the right place industry-wise at the right time.  So we gotta have it.  Tomorrow with the news we may have a gap up so I will try not to chase although it is difficult  .  We will set a limit order for our buy right at mkt open.  This will guarantee our set price or better(less) for purchase.  Most likely we will set a stop just under the 20 ema and I believe GLBL could see 20+ rather quickly.  Enjoy.  

We will buy GLBL @ limit 15.80.

Looks good G! Count me in at 15.80.

 GLBL: RBC Capital Keeps @ Sector Perform; Ups Tgt to $18 vs $16; Analyst Notes
Wednesday, April 19, 2006 09:52 ET

Issuer: Global Industries Ltd (NasdaqNM: GLBL)
Analyst Firm:  RBC Capital Markets
Ratings Action: REITERATION
Current Rating: Sector Perform
Target Price Action: INCREASE
Target Price: $18.00 (+12.50% from $16.00)
Analyst Comments: GLBL has announced that it has been awarded an ~$130mn contract from PEMEX.

update GLBL:

GLBL continues to consolidate nicely high up in the pattern.  I think this little pennant pattern should be strong and support @ 15 solid so I feel comfortable moving the stop a bit higher.

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Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 14.85
Target: n/a
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Are we holding through earnings.

update GLBL:

GLBL looks set to break out of the flag this week ahead of its earnings.  Earnings are Thursday May 4th pre-market.  We will therefore decide before May 3rd if we will hold GLBL through their earnings.  Right now I am leaning towards holding through.

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Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 14.85
Target: n/a
------

update GLBL:

Yesterday GLBL broke out of its flag and today it continued by finsihing the day strong.  In fact the finish today was extremely bullish!!  Steady volume came in on the intraday chart around 3:30 pm and continued to pick the stock up.  Tomorrow will most likely see a jump because of this.

We are realy enjoying this technical pattern.. and this late day buying.. we will hold over earnings which are released Thursday pre-market.  Remember holding over earnings is risky.

------
Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 14.85
Target: n/a
------

Energy services are hot.  Sounds like a good one to hold over earnings.  My sector fund holding has been volatile, but in a strong uptrend

Is this good?

It sems to be above estimates...


May 3 (Reuters) -
                       GLOBAL INDUSTRIES LTD. (GLBL.O: Quote, Profile, Research)
                                Latest         Forecast*      No. of   Yr ago
                                                                     analysts   qtr

EPS (diluted, $/shr)      0.16              0.13             7      0.07
Net ($ million)              18.8                --               --       7.5
Revenue ($ million)      246.3            185.9             3     137.3


*Source: Reuters Estimates
(Reporting by Kenan Machado in Bangalore)

Earnings came out early! And you know why?  These are AMAZING results!!  Way over estimates!  And a huge backlog! 

Thx for the heads up Lusitano 

GLBL will open with a huge gap...  Now to come up with the trade plan. 

----------------------------------

QuoteGlobal Industries, Ltd. Announces Operating Results for the First Quarter Ended March 31, 2006
Wednesday May 3, 6:35 pm ET
http://biz.yahoo.com/prnews/060503/daw032.html?.v=55

CARLYSS, La., May 3 /PRNewswire-FirstCall/ -- Global Industries, Ltd. (Nasdaq: GLBL - News) announced results for the first quarter ended March 31, 2006. Revenues were $246.3 million for the first quarter of 2006, an improvement of $109.0 million, or 79%, over the same period a year ago. Gross profit was $48.1 million for the quarter, an improvement of $23.8 million, or 98%, compared to last year's first quarter. Net income increased by $11.3 million to $18.8 million, or $0.16 per diluted share, for the first quarter of 2006, as compared to net income of $7.5 million or $0.07 per diluted share for the same period last year.

During the first quarter of 2006, our operations management and internal financial reporting were reorganized into five business units: Gulf of Mexico, Latin America, West Africa, Middle East (including India), and Asia Pacific. Each of these business units includes both offshore construction activities and diving activities for a particular region of the world. Management has determined that the Gulf of Mexico business unit includes two reportable segments under Statement of Financial Accounting Standards ("SFAS") No. 131, "Disclosures About Segments of an Enterprise and Related Information," and as a result will present six segments in the notes to the financial statements: Gulf of Mexico OCD, Gulf of Mexico Diving, Latin America, West Africa, Middle East, and Asia Pacific. The amounts shown for the comparable period in 2005 have been restated to correspond to the new presentation.

The improvement in gross profit was primarily due to an increase in our overall level of construction activity due to sustained high energy prices and the effects of two major hurricanes in the Gulf of Mexico which occurred in the latter part of 2005. Results improved substantially in West Africa, the Middle East, and in both of our Gulf of Mexico segments. Activity declined in Asia Pacific due to the temporary mobilization of vessels to the Middle East and the inactivity of the Hercules during scheduled repairs and upgrades. The activity of our major construction vessels in Latin America declined between comparable quarters. During the first quarter of 2006, our operations in Mexico transitioned from idleness to activity as we began a series of major projects in this region.

During the first quarter of 2006, we booked $360.0 million of new work resulting in a backlog of $689.9 million as of March 31, 2006 compared to a backlog of $359.3 million as of March 31, 2005.

Effective January 1, 2006, the Company implemented SFAS No. 123R, "Share- Based Payment," which requires, among other things, the expensing of stock options which were previously not reflected in the Company's results of operations. Adoption of this standard resulted in a charge to earnings of less than $0.01 per diluted share.

William J. Dore, Global's Chairman and Chief Executive Officer, said, "I am pleased to announce these improved results and look forward to the remainder of this promising year. Our international backlog has increased to $661.7 million, demand for our services in the U.S. Gulf of Mexico continues to be very strong, and our longer-term prospects are improving as the market expectations regarding energy prices, which drive our business trend toward higher pricing for our services. There will continue to be the risk of mechanical issues with these older vessels as utilization increases, but we are making every attempt to anticipate problems by implementing our computerized maintenance management system."

A conference call will be held at 9:00 a.m. Central Daylight Saving Time on Thursday, May 4, 2006. Anyone wishing to listen to the conference call may dial 888.790.9477 or 210.234.9633 and ask for the "Global First Quarter Earnings" call. Phone lines will open fifteen minutes prior to the start of the call. The call will also be webcast in real time on the Company's website at http://www.globalind.com , where it will also be archived for anytime reference until May 19, 2006.

All individuals listening to the conference call or the replay are reminded that all conference call material is copyrighted by Global and cannot be recorded or rebroadcast without Global's express written consent.

Global Industries provides pipeline construction, platform installation and removal, diving services, and other marine support to the oil and gas industry in the Gulf of Mexico, West Africa, Asia Pacific, the Mediterranean, Middle East/India, South America, and Mexico's Bay of Campeche. The Company's shares are traded on The NASDAQ National Market under the symbol "GLBL."

This press release may contain forward-looking information based on current information and expectations of the Company that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially are: industry conditions, prices of crude oil and natural gas, the Company's ability to obtain and the timing of new projects, and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual outcomes could vary materially from those indicated.


                                                Set forth are the Company's
                                                 results of operations and
                                               selected balance sheet amounts
                                                 for the periods indicated
                                             ---------------------------------
                                                   (In thousands, except
                                                     per share amounts)
                                             ---------------------------------
                                               Three Months     Three Months
                                              Ended March 31,  Ended March 31,
                                             ---------------- ----------------
    Results of Operations                          2006             2005
                                             ---------------- ----------------
    Revenues                                   $  246,267       $  137,256
    Cost of Operations                            198,137          112,959
                                             ---------------- ----------------
    Gross Profit                                   48,130           24,297
    Net (Gain) on Asset Disposal                     (291)            (112)
    Selling, General and
     Administrative Expenses                       16,286           10,282
                                             ---------------- ----------------
    Operating Income                               32,135           14,127
                                             ---------------- ----------------
    Other Expense (Income):
      Interest Expense                              2,036            2,384
      Other                                           (33)            (729)
                                             ---------------- ----------------
    Income Before Income Taxes                     30,132           12,472
    Income Taxes                                   11,368            4,976
                                             ---------------- ----------------
    Net Income                                 $   18,764       $    7,496
                                             ================ ================

    Earnings Per Common Share
      Basic Earnings Per Share                 $     0.16       $     0.07
      Diluted Earnings Per Share                     0.16             0.07

    Weighted Average Common
     Shares Outstanding:
      Basic                                       114,171          112,603
      Diluted                                     115,609          114,476

    Other Data
      Depreciation and Amortization            $   14,455       $   12,030
      Backlog at end of period                    689,900          359,334



                                                  As of            As of
                                                 March 31,      December 31,
                                                   2006             2005
                                              -------------    --------------
    Selected Balance Sheet Amounts
      Cash                                     $  114,289       $  128,615
      Working Capital (including cash)            246,404          232,050
      Total Assets                                897,493          857,314
      Debt                                         75,240           77,220
      Shareholders' Equity                        521,115          496,805



                                                Set forth are the Company's
                                                 results of operations and
                                               selected balance sheet amounts
                                                 for the periods indicated
                                             ---------------------------------
                                                       (In thousands)
                                             ---------------------------------
                                               Three Months     Three Months
                                              Ended March 31,  Ended March 31,
                                             ---------------- ----------------
                                                   2006            2005(1)
                                             ---------------- ----------------
            Reportable Segments
    ----------------------------------
    Total Segment Revenues
       Gulf of Mexico OCD                      $   59,992       $   23,318
       Gulf of Mexico Diving                       29,461           13,520
       Latin America                               62,494           65,756
       West Africa                                 33,081            3,518
       Middle East                                 72,271           24,882
       Asia Pacific                                 5,348           10,370
                                             ---------------- ----------------
         Subtotal                                 262,647          141,364
    Intersegment Eliminations                     (16,380)          (4,108)
                                             ---------------- ----------------
    Consolidated Revenues                      $  246,267       $  137,256
                                             ================ ================

    Income (Loss) Before Taxes
       Gulf of Mexico OCD                      $   11,631       $    9,921
       Gulf of Mexico Diving                        7,930            4,830
       Latin America                               (1,112)           2,476
       West Africa                                  4,083           (4,116)
       Middle East                                 11,921            6,509
       Asia Pacific                                (3,849)          (7,585)
       Over (under) allocated
        corporate expenses                           (472)             437
                                             ---------------- ----------------
    Consolidated Income Before Taxes           $   30,132       $   12,472
                                             ================ ================

     (1)  The amounts shown for the quarter ended March 31, 2005 have been
          restated to conform to the new presentation of segments adopted in
          the quarter ended March 31, 2006.
----------------------------

update GLBL:

As stated above.. earnings came in AMAZING.    GLBL should gap and run strongly tomorrow.  If the market does not agree we have our stop which we are moving higher.

We considered the natural target of around $20 but these earnings look tremendous and for now we will just guard a move to the downside.  Lets see how the market reacts to earnings and the cc(9am).  We'll think about targets from there.  As we mentioned in the first post GLBL is in the right place(industry and chart) at the right time!

------
Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 15.47
Target: n/a
------

About these stop,

Do we raise it, or do we maintain it at this price?

And, what about targets? Any thoughts?

Thanks

update GLBL:

No need to limit this stock with a target.  Fwd PE estimate 16.88.. peers trade higher.. hot industry.  Lets move that stop up.

------
Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 15.97
Target: n/a
------

update GLBL:

..and up we go  .. looking great! 

------
Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: stop @ 15.97
Target: n/a
------

update GLBL:

Heavy move down Friday for GLBL.  I do not want the stop hit intra-day on this stock so I will remove the stop.  Volume has been heavy the past 2 days and we are looking for support to come soon.. but of course the market will be the judge of that.

------
Position: bought GLBL @ 15.80 on 4/19/2006
Order: Hold
Exit: n/a
Target: n/a
------