Swiber (AK3.SG) off 2.8% at $1.05 as weaker 3Q10 results take toll; net profit down 51.8% on year, down 49.4% on quarter, at US$7.0 million ($9 million) on higher operating costs, lower gains from asset sales, reduced contributions from associates, according to Dow Jones.

Still, longer-term earnings outlook remains favorable as provider of construction services to offshore oil & gas sector has U$800 million ($1 billion) orderbook to support results over next 2 years.

“We expect the company’s earnings to start mirroring its large orderbook more meaningfully from 4Q10,” says UOB KayHian, which has Buy call with $1.45 target. CIMB, which has Outperform call with $1.37 target, expects stronger 4Q10 results on contributions from 3 large projects in India secured in 1H10.

Shares expected to hold above $1.00 today.