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File Pursuant to Rule 424(B)(3)
Registration Number: 333-27599
PROSPECTUS SUPPLEMENT DATED AUGUST 5, 1997 TO PROSPECTUS DATED JULY 21, 1997
Friede Goldman International Inc. reported operating results for the three
months ended June 30, 1997 and for the six months ended June 30, 1997 as
follows:
FRIEDE GOLDMAN INTERNATIONAL INC. SUMMARY RESULTS OF OPERATIONS
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
THREE MONTHS ENDED JUNE 30 SIX MONTHS ENDED JUNE 30
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1996 1997 1996 1997
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<S> <C> <C> <C> <C>
Revenue................. $ 5,582 $ 26,869 $ 8,547 $ 45,523
Gross Profit............ $ 1,764 $ 10,245 $ 2,303 $ 16,099
Operating Income (loss). $ 395 $ 6,747 $ (9) $ 9,979
Income before tax....... $ 529 $ 9,722 $ 3,712 $ 14,280
Net income.............. $ 529 $ 8,472 $ 3,712 $ 13,030
Pro forma net income(1). $ 333 $ 6,177 $ 2,338 $ 9,050
Earnings per share...... $ 0.06 $ 0.92 $ 0.40 $ 1.42
Pro forma net income
(per share)............ $ 0.04 $ 0.67 $ 0.25 $ 0.98
Weighted average shares
outstanding(2)......... 9,200,000 9,200,000 9,200,000 9,200,000
EBITDA(3)............... $ 562 $ 7,021 $ 318 $ 11,021
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(1) When the effects of gains from the sale and distribution of assets and
settlement proposals, which are not expected to recur, are excluded, pro
forma net income for the three months and six months ended June 30, 1997
are approximately $4,138,000 ($0.45 per share) and $6,140,000 ($0.67 per
share), respectively.
(2) Gives effect to a reorganization that occurred prior to the completion of
the offering described in the accompanying Prospectus.
(3) EBITDA represents operating income plus depreciation, amortization and
non-cash compensation expenses related to the issuance of stock and stock
options to employees. EBITDA is not a measure of cash flow, operating
results or liquidity as determined by generally accepted accounting
principles.
