Tidewater Reports 1Q Results

Thursday, July 26, 2007
Tidewater Inc. announced first quarter net earnings for the period ended June 30, 2007, of $87.5 million, or $1.55 per common share, on revenues of $305.5 million. Included in the current quarter's net earnings are after-tax charges totaling $3.5 million, or $.06 per common share, related to the settlement of a recent class action in California related to certain wage and hour claims of certain former and current employees, retirement costs of a senior executive and legal costs associated with the company's ongoing previously disclosed investigation of its Nigerian operations.

For the same quarter last year, net earnings were $71.4 million, or $1.23 per common share, on revenues of $269.8 million. The immediately preceding quarter ended March 31, 2007, had net earnings of $87.6 million, or $1.56 per common share, on revenues of $293.5 million. Included in the March 31, 2007, quarterly earnings was a $3.5 million pre-tax charge to vessel operating costs for the Company's share of a deficit in an industry-wide multi-employer retirement fund in the United Kingdom, the Merchants Navy Officers Pension Fund (MNOPF).

Tidewater Inc. owns 455 vessels, the world's largest fleet of vessels serving the global offshore energy industry.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Environmental

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

Submarine Tourism in Turkey's Waters

The first tourist submarine in Turkey is waiting to be sent on a voyage that will reveal the wonders of the undersea world of the Mediterranea.   The first submarine

Cautious Optimism on Pacific NorthWest LNG Report

Canadian Environmental Assessment Agency (CEAA)  has ruled that Pacific NorthWest LNG’s project in British Columbia would likely harm harbour porpoises and contribute to climate change,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Sonar 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: 0.0794 sec (13 req/sec)