Diamond Offshore Posts Q1 Loss On Charges - Quick Facts

(RTTNews) - Diamond Offshore Drilling Inc. (DO) reported a net loss of $256 million, or $1.86 per share, in the first quarter of 2015, compared to net income of $146 million, or $1.05 per share, prior year. The company noted that its results for the quarter included a non-cash charge of $319 million after tax, or $2.33 per share, associated with the impairment of eight drilling units, three of which are to be retired and scrapped. The company also recognized a charge during the quarter of $4 million after tax, or $0.03 per share, related to restructuring and employee separation-related costs.

On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $620 million, compared to $709 million in the first quarter of 2014. Analysts expected revenue of $618.32 million for the quarter.

The company announced that it has declared a regular quarterly dividend of $0.125 per share, payable on June 1, 2015 to shareholders of record as of May 15, 2015.