WASHINGTON (dpa-AFX) - Tidewater Inc. (TDW) said Monday that profit in the fourth quarter increased significantly from last year, amid a rise in revenues.
Net earnings climbed to $33.6 million or $0.66 per common share from $12.02 million or $0.23 per share in the prior year.
The prior-year results included a $6.3 million charge related to a settlement with the Federal Government of Nigeria and a $3.9 million impairment charge related to a write-down.
On average, 14 analysts polled by Thomson Reuters expected earnings of $0.61 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $289.4 million from $253.99 million. Analysts expected revenues of $286.07 million.
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