WASHINGTON (dpa-AFX) - Rowan Companies Plc (RDC) Thursday said fourth-quarter profit increased, mainly on higher revenues. Fourth-quarter earnings from continuing operations also came in above analysts' expectations.
Net income for the quarter increased to $54.1 million or $0.44 per share from $45.1 million or $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
Net income from continuing operations increased to $70.5 million or $0.57 per share from $33.1 million or $0.27 per share last year.
On average, 35 analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $354.2 million, up from $275.1 million last year. Analysts expected revenues of $356.64 million.
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