Disaster Recovery and Mitigation

. . . Offshore repair continues - Hornbeck Offshore Services (NYSE:HOS), which provides vessels for offshore repair services, saw record results in the third quarter. Third quarter revenues increased $13.6 million, or 41.3%, to $46.5 million compared to $32.9 million for the third quarter of 2004. Operating income was $16.8 million, or 36.1% of revenues, for the third quarter of 2005, compared to $9.2 million, or 28.0% of revenues, for the same quarter in 2004. The Company's record results continue to be driven primarily by the strong OSV (Offshore Vehicle) market conditions in the U.S. Gulf of Mexico. According to Todd Hornbeck, CEO, "These recent hurricanes that devastated the Gulf Coast region had a significant impact on offshore drilling and production facilities and resulted in offshore inspection, repair and construction activity that we believe may last two years or more."

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