Nabors Industries Ltd. (NBR) announced its results for the first quarter of 2013. Net income attributable to Nabors decreased to $99.12 million from $134.09 million last year. Profit per share was $0.33 compared to $0.46 in the prior year.
First-quarter GAAP net income per share from continuing operations was $0.33 compared to $0.49 in the first quarter of 2012. The latest quarter results particularly echoed lower revenues from the year-ago quarter.
Meanwhile, total revenues and other income decreased to $1.66 billion from $1.84 billion in the prior year. Also, operating revenues totaled $1.57 billion in the current quarter, down from $1.89 billion in the same quarter of last year.
Analysts polled by Thomson Reuters expected the company to report profit of $0.28 per share on revenue of $1.64 billion for the quarter. Analysts' estimates typically exclude special items.
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