UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* Gulf Island Fabrication (Name of Issuer) Common Stock (Title of Class of Securities) 402307102 (CUSIP Number) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 pages CUSIP No. 402307102 13G Page 2 of 5 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON St. Denis J. Villere & Company, L.L.C. I.R.S. Identification No. 72-0343760 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Louisiana - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 39,400 ------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY 699,137 ------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING 39,400 PERSON ------------------------------------------------ 8 SHARED DISPOSITIVE POWER WITH 699,137 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 738,537 Shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.26% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 2 of 5 pages SCHEDULE 13G ITEM 1. This Schedule 13G relates to shares of the common stock (the "Shares") of Gulf Island Fabrication, a Louisiana corporation (the "Issuer"), whose principal executive offices are located at 583 Thompson Road, Houma, Louisiana 70363. ITEM 2. (a)-(c) The person filing this Schedule 13G is St. Denis J. Villere & Company, L.L.C., a Louisiana limited liability company ("Villere"), with its principal business office located at 210 Baronne Street, Suite 808, New Orleans, Louisiana 70112-1727. (d) Title of Class of Securities: Common (e) CUSIP Number: 402307102 ITEM 3. Villere is filing this Schedule 13G as an Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940. ITEM 4. Ownership. (a)-(c) As of December 31, 2003, Villere was deemed to have or share voting or dispositive power over, and therefore to own beneficially, the number and percentage of Shares of the Issuer indicated below: