Tidewater Reports Rise In Q1 Net Income On Higher Revenues - Quick Facts

Tidewater To Purchase Troms Offshore Supply AS For Approx. $395 Mln

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8/8/2012 8:40 AM ET

Tidewater Inc. (TDW: Quote) Wednesday released the financial results for the first quarter of fiscal 2013 ended 30 June 2012, reporting rise in Net income on higher revenues.

The leading provider of larger Offshore Vessels to the global energy industry reported net income for the first quarter of $32.9 million or $0.65 per share, higher than net income of $24.60 million or $0.48 per share reported for the corresponding period last year.

On average, 13 analysts polled by Thomson Reuters expected earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the first quarter increased to $294.4 million from $254.6 million reported for the year-ago quarter. Analysts expected revenues of $292.60 million for the first quarter of fiscal 2013.

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by RTT Staff Writer

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