Diamond Offshore Drilling Q1 Earnings Decline
WASHINGTON (dpa-AFX) - Diamond Offshore Drilling, Inc. (DO), a provider of contract drilling services to the energy industry, Thursday reported a drop in earnings as well as revenue for the first quarter.
For the first quarter, net earnings declined to $145.81 million from $175.99 million in the same period last year. Earnings per share were $1.05 for the period, down from $1.27 last year.
On average, 34 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.65 for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the 3-month period decreased to $709.42 million from $729.74 million a year earlier. Analysts had expected revenues of $686.34 million for the quarter.
The company declared a special quarterly cash dividend of $0.75 per share and a regular quarterly cash dividend of $0.125 per share. Both the dividends are payable on June 2 to shareholders of record on May 7.
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