Tidewater Slips To Loss In Q4 - Quick Facts

(RTTNews) - Tidewater Inc. (TDW) reported fourth quarter net loss attributable to the company of $9.08 million or $0.19 per share, compared to net income of $43.42 million or $0.88 per share in the previous year.

Included in latest-quarter results were charges resulting from cost reduction initiatives related to a more challenging business environment since the precipitous decline in crude oil prices that began in the second half of fiscal 2015, as well as period end asset impairment reviews and assessment of realization of deferred tax assets.

Revenues were $324.8 million down from $367.8 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share and revenues of $357.26 million for the quarter. Analysts' estimates typically exclude special items.