Tidewater Reports Q1 2010 Results

Thursday, July 30, 2009

Tidewater Inc. (NYSE:TDW) announced first quarter net earnings for the period ended June 30, 2009, of $44.5m, or $0.86 per share, on revenues of $326.6m. Included in net earnings for the June 2009 quarter is a non-cash charge totaling $48.6m ($47.7m after-tax, or $0.93 per common share) related to the company’s Venezuelan operations. As a result of the seizure of 11 vessels and certain other assets during the June quarter in Venezuela pursuant to a May 2009 Venezuelan law and the continued nonpayment of outstanding receivables from Petroleos de Venezuela, S.A. (PDVSA) and an affiliate of PDVSA, the company recorded a $3.8m charge equal to the net book value of the assets seized and a $44.8m provision to fully reserve accounts receivable due from PDVSA-related entities.

For the same quarter last year, net earnings were $84.8m, or $1.64 per share, on revenues of $340m. The immediately preceding quarter ended March 31, 2009, had net earnings of $109.7m, or $2.13 per common share, on revenues of $341.6m.

(www.tdw.com)

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

Finance

Seadrill's Q2 2014 Revenue Holds Nearly Steady

Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report.

COSCO Resorts to Rate Restoration for F. East to S Africa Trade

COSCO Container Lines would like to announce Rate Restoration for all shipments (include reefer cargo) from Far East to South Africa Trade and take effect from September 1, 2014.

MN 100: Crowley

9487 Regency Square Boulevard Jacksonville, FL 32225 Tel: (800) 276-9539 Email: corpcomm@crowley.comĀ  Website: www.crowley.com Chairman & CEO: Thomas B.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Winch
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: 0.0784 sec (13 req/sec)