<SEC-DOCUMENT>0001157523-12-004579.txt : 20120817
<SEC-HEADER>0001157523-12-004579.hdr.sgml : 20120817
<ACCEPTANCE-DATETIME>20120816173854
ACCESSION NUMBER:		0001157523-12-004579
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120816
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20120817
DATE AS OF CHANGE:		20120816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GULF ISLAND FABRICATION INC
		CENTRAL INDEX KEY:			0001031623
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED STRUCTURAL METAL PRODUCTS [3440]
		IRS NUMBER:				721147390
		STATE OF INCORPORATION:			LA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34279
		FILM NUMBER:		121040847

	BUSINESS ADDRESS:	
		STREET 1:		GULF ISLAND FABRICATION INC
		STREET 2:		583 THOMPSON RD
		CITY:			HOUMA
		STATE:			LA
		ZIP:			70361
		BUSINESS PHONE:		5048722100

	MAIL ADDRESS:	
		STREET 1:		P O BOX 310
		CITY:			HOUMA
		STATE:			LA
		ZIP:			70361
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50380227.htm
<DESCRIPTION>GULF ISLAND FABRICATION, INC. 8-K
<TEXT>
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      <br>
      <font style="font-size: 12pt">UNITED STATES</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">Washington,
      D.C. 20549</font>
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      <font style="font-family: Times New Roman; font-size: 16pt"><b>FORM 8-K</b></font><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt">Pursuant to Section
      13 or 15(d) of the Securities Exchange Act of 1934</font>
    </p>
    <hr style="color: #000000; text-align: center; width: 20%; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt">Date of
      Report</font><font style="font-family: Times New Roman; font-size: 12pt"><b>
      (</b></font><i><font style="font-family: Times New Roman; font-size: 12pt">Date
      of earliest event reported</font></i><font style="font-family: Times New Roman; font-size: 12pt"><b>)</b></font><font style="font-family: Times New Roman; font-size: 12pt">:
      August 16, 2012</font>
    </p>
    <p style="text-align: center">
      <br>
      <font style="font-size: 16pt"><b>Gulf Island Fabrication, Inc.</b></font><br><i><font style="font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font></i><br><br>
    </p>
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            Louisiana
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          <p style="margin-bottom: 0px; margin-top: 0px">
            001-34279
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          <p style="margin-bottom: 0px; margin-top: 0px">
            72-1147390
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            <i>(State of incorporation)</i>
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            <i>(Commission File Number)</i>
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            <i>(IRS Employer Identification No.)</i>
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            567 Thompson Road, Houma, Louisiana
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          &#160;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            70363
          </p>
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        <td style="width: 15%">

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        <td style="width: 15%">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 40%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Address of principal executive offices)</i>
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        <td style="width: 10%">

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            <i>(Zip Code)</i>
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        <td style="width: 15%">

        </td>
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    </div>
    <p style="text-align: center">
      (985) 872-2100<br><i>(Registrant's telephone number, including area code)</i><br><br>N/A<br><i>(Former
      name or former address, if changed since last report)</i>
    </p>
    <p style="text-align: center">
      <br>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligations of the registrant under
      any of the following provisions</font>:
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
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    <p style="text-align: justify">
      <br>
      <br>
      <b>Item 8.01 Other Events.</b>
    </p>
    <p>

    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On July 13, 2012, Gulf Island Fabrication, Inc. (&#8220;Gulf
      Island&#8221;) received notice from one of its customers (the &#8220;Customer&#8221;)
      requesting (i) a slowdown of work on a deepwater project (the &#8220;Project&#8221;)
      ordered pursuant to a master service contract (the &#8220;Contract&#8221;) between
      Gulf Island, L.L.C., a wholly-owned subsidiary of Gulf Island (the
      &#8220;Contractor&#8221;) and the Customer, and (ii) an amendment to the scheduled
      payment terms under the Contract.&#160;&#160;As of August 1, 2012, the outstanding
      contracts receivable balance (as it may be adjusted, the &#8220;Balance&#8221;) on
      the Project was approximately $30.8 million, approximately $9.7 million
      of which was past due.&#160;&#160;
    </p>
    <p>

    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On August 16, 2012, the Contractor entered into a binding agreement with
      the Customer to amend and restate the Contract (the &#8220;Agreement&#8221;).&#160;&#160;Among
      other things, the Agreement outlines the revised payment terms for the
      Balance and the limitation on the Customer&#8217;s ability to request an
      extended slowdown of work. Specifically, the Customer must pay a portion
      of the Balance on or before the last day of each calendar month until
      February 28, 2013, with the remaining outstanding Balance due on or
      before March 31, 2013.&#160;&#160;In addition, if the Customer has fully paid the
      Balance on or prior to March 31, 2013, the Customer has the option to
      extend the slowdown of work on the Project to June 30, 2013, after which
      the Customer will have no further rights to request a slowdown of work
      under the Contract.&#160;&#160;If the Customer fails to make timely payments
      pursuant to the revised payment plan, the Contract will terminate and
      the Contractor will continue to retain title to any deliverables
      pursuant to the Contract.&#160;&#160;
    </p>
    <p style="text-align: justify">

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      <br>
      <br>
      <br>

    </p>
    <p style="text-align: left; text-indent: 30.0px">
      SIGNATURE
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
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      <br>

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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>GULF ISLAND FABRICATION, INC.</b>
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 51%">
          &#160;
        </td>
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            &#160;
          </p>
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            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 4%">
          By:
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Kerry J. Chauvin
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        <td style="width: 39%">

        </td>
        <td style="width: 4%">

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          <p style="margin-bottom: 0px; margin-top: 0px">
            Kerry J. Chauvin
          </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Chairman of the Board and Chief Executive Officer
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        <td style="width: 4%">

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          &#160;
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

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          &#160;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            August 16, 2012
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        <td style="width: 4%">

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