Tidewater Reports Lower Q3 Profit On Impairment Charge - Quick Facts

(RTTNews) - Tidewater Inc. (TDW) reported third-quarter net income of $12.58 million or $0.25 per share, compared to $29.95 million or $0.61 per share, last year. The company noted that its current quarter net earnings included a non-cash goodwill impairment charge of $56.3 million ($43.4 million after tax, or $0.87 per share) resulting from the annual goodwill impairment assessment.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.11 for the quarter. Analysts' estimates typically exclude special items.

Revenues rose year-over-year to $365.25 million, from $309.47 million. Analysts expected revenue of $374.03 million for the quarter.