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Company News

BRIEF-Shawcor Q4 Earnings Per Share C$0.28

March 1 (Reuters) - Shawcor Ltd:

* . ANNOUNCES FOURTH QUARTER 2017 RESULTS

* Q4 EARNINGS PER SHARE C$0.28

* Q4 REVENUE C$426 MILLION

* WITH ABSENCE OF A LARGE PIPE COATING PROJECT IN 2018, EXPECTS TO SEE A STEP DOWN IN EBITDA STARTING IN Q1

* ORDER BACKLOG WAS $385 MILLION AT DEC 31, 2017, DOWN COMPARED TO BACKLOG AT SEPTEMBER 30, 2017 OF $482 MILLION

* PAUL ROBINSON WILL RETIRE AS CHAIR OF BOARD EFFECTIVE MAY 8, 2018

* APPOINTED INDEPENDENT DIRECTOR DONALD WISHART AS ITS NEW CHAIR OF BOARD, EFFECTIVE MAY 8, 2018

* SHAWCOR - AS NO LARGE PROJECT WIN WAS ANNOUNCED IN Q4, IT IS LIKELY THAT CO WILL EXPERIENCE A “SIGNIFICANT” DECLINE IN FINANCIAL RESULTS IN 2018 VERSUS 2017

* SHAWCOR - RIG COUNTS, ASSOCIATED COMPLETION ACTIVITY IN NORTH AMERICAN LAND “HAVE SHOWN SIGNS OF STABILITY IN CURRENT OIL AND GAS PRICE ENVIRONMENT”

* Q4 EARNINGS PER SHARE VIEW C$0.33 -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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