Tidewater Posts Quarterly Net Earnings for '09

Tidewater announced today third quarter net earnings for the period ended December 31, 2009, of $59.9 million, or $1.16 per common share, on revenues of $286.5 million. For the same quarter last year, net earnings were $117.0 million, or $2.28 per common share, on revenues of $362.3 million. The immediately preceding quarter ended September 30, 2009, had net earnings of $98.2 million, or $1.90 per common share, on revenues of $295.5 million. Included in net earnings for the September 30, 2009 quarter is a $34.3 million, or $0.66 per common share, tax benefit resulting from a favorable resolution of tax litigation.

 

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