Rowan Companies, Inc. (RDC) reported third quarter net income of $78.4 million or $0.69 per share, compared to $114.1 million or $1.00 per share last year.
Excluding tax benefit, earnings in the third quarter were $61.4 million or $0.54 per share.
On average, 30 analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share. Analysts' estimates typically exclude special items.
Revenues declined to $393.4 million from $527.1 million in the same quarter last year.
Twenty one analysts estimated revenues of $383.16 million.
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