Diamond Offshore Announces Third Quarter 2001 Earnings

Tuesday, October 16, 2001
Diamond Offshore Drilling reported net income for the third quarter of 2001 of $53.4 million, or $0.38 per share on a diluted basis, compared to net income for the prior year quarter of $10.5 million, or $0.08 per share on a diluted basis. Revenues for the third quarter of 2001 were $230.6 million compared to revenues of $157.3 million for the third quarter of 2000.

For the nine months ended Sept. 30, 2001, the Company reported net income before extraordinary items of $141.7 million, or $1.02 per share on a diluted basis compared to net income of $43.6 million, or $0.32 per share on a diluted basis for the same period in 2000. Revenue for the nine months ended Sept. 30, 2001 were $663.2 million compared to revenues of $468.5 million for the first nine months of 2000. Net income after extraordinary items related to the early retirement of debt was $134.0 million, or $0.97 per share on a diluted basis, for the nine months ended Sept. 30, 2001.

As of Sept. 30, 2001, there were 132.1 million common shares outstanding. Depending on market conditions, the Company may, from time to time, purchase shares of its outstanding common stock in the open market or otherwise. During the third quarter of 2001, Diamond Offshore repurchased 1.3 million shares of its common stock at an aggregate cost of $33.6 million.

Diamond Offshore is a leader in deep water drilling. The company's fleet of 45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents.

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1116 sec (9 req/sec)