Diamond Offshore Drilling Q4 Profit Rises - Quick Facts

(RTTNews) - Drilling services contractor Diamond Offshore Drilling, Inc. (DO) reported fourth-quarter net income that increased to $98.84 million or $0.72 per share from $92.62 million or $0.67 per share in the prior-year quarter.

Results for the year-ago quarter was negatively impacted by $0.41 per share to reserve for an uncertain tax position, partially offset by a gain of $0.12 per share related to a settlement agreement with a customer.

On average, 30 analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter decreased to $675.32 million from $726.50 million in the same quarter last year. Analysts expected revenues of $680.40 million for the quarter.

The company declared a regular quarterly dividend of $0.125 per share, payable March 2 to shareholders of record on February 20, 2015. Additionally, the Board of Directors of the Company, after careful consideration, has chosen not to declare a special dividend.