Tidewater Reports 3Q Results

Friday, February 01, 2008
Tidewater Inc. announced third quarter net earnings for the period ended December 31, 2007, of $89.4 million, or $1.66 per common share, on revenues of $314.2 million. For the same quarter last year, net earnings were $93.4 million, or $1.67 per common share, on revenues of $287.9 million. The immediately preceding quarter ended September 30, 2007, had net earnings of $86.5 million, or $1.56 per common share, on revenues of $319.0 million.

Included in net earnings for the quarter ended December 31, 2006, was a gain of $6.0 million ($3.7 million after tax, or $0.07 per common share) related to the sale of three of the Company's offshore tug vessels for a total sales price of $8.9 million.

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