Tidewater reports second quarter results for fiscal 2014Company News // November 5, 2013
Tidewater has announced second quarter net earnings for the period ended September 30th 2013 of US$54.2 million, or US$1.09 per common share, on revenues of US$367.9 million.
For the same quarter last year, net earnings were US$41.4 million, or US$0.83 per common share, on revenues of US$311.9 million.
The immediately preceding quarter ended June 30th 2013 had net earnings of US$30.1 million, or US$0.61 per common share, on revenues of US$334.1 million.
Net earnings for the September 30th 2013 quarter reflect a US$4.1 million (US$3.0 million after tax, or US$0.06 per common share) loss on early extinguishment of debt associated with bonds issued in April 2013 by Troms Offshore Supply AS, a wholly-owned subsidiary of the company acquired in June 2013.