Pride International, Inc. (PDE) reported third quarter net income of $35.6 million or $0.20 per share, compared to $189.1 million or $1.08 per share last year. The company noted that the prior year results were adjusted.
Earnings per share from continuing operations were $0.45, compared to $0.82 in the same quarter last year.
On average, 27 analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share. Analysts' estimates typically exclude special items.
Revenues declined to $386.1 million from $463.3 million in the prior-year quarter. Nineteen analysts estimated revenues of $400.39 million.
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