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

Finance

Otto Marine's Financial Health on the Mend

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.

Shipowners to Become Liable for Costs of Wreck Removal

Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit,

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.1121 sec (9 req/sec)