Tidewater Inc. Presents at 2015 Louisiana Energy Conference, Jun-11-2015 01:15 PM
May 30 15
Tidewater Inc. Presents at 2015 Louisiana Energy Conference, Jun-11-2015 01:15 PM. Venue: Westin Canal Place Hotel, New Orleans, Louisiana, United States. Speakers: Jeffrey M. Platt, Chief Executive Officer, President and Director.
Tidewater Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Announces Asset Impairment Charges for the Fourth Quarter Ended March 31, 2015; Provides Revenue Guidance for the First Quarter and Earnings Guidance for the Full Year of Fiscal 2016
May 27 15
Tidewater Inc. reported consolidated earnings results for the fourth quarter and full year ended March 31, 2015. For the quarter, the company reported revenues of $324,762,000 against $367,833,000 a year ago. Operating income was $25,672,000 against $61,063,000 a year ago. Earnings before income taxes were $15,242,000 against $51,239,000 a year ago. Net loss attributable to the company was $9,076,000 or $0.19 per diluted share against net earnings attributable to the company of $43,417,000 or $0.88 per diluted share a year ago. Adjusted EPS for the March quarter of $0.15 was down approximately 55% from the December quarter. Capital expenditure in the March quarter was approximately $133 million.
For the full year, the company reported revenues of $1,495,517 1,435,103,000 a year ago. Operating loss was $37,181,000 against operating income of $201,541,000 a year ago. Loss before income taxes was $66,426,000 against earnings before income taxes of $173,048,000 a year ago. Net loss attributable to the company was $65,190,000 or $1.34 per diluted share against net earnings attributable to the company of $140,255,000 or $2.82 per diluted share a year ago. Net cash provided by operating activities was $358,713,000 against $104,617,000 a year ago. Additions to properties and equipment were $364,194,000 against $594,695,000 a year ago. Adjusted EPS for the year of $3.82 per diluted share was essentially flat relative to adjusted EPS for fiscal 2014, which also included a smaller noncash goodwill impairment charge and more modest asset impairment charges. Net debt was approximately $1.5 billion.
For the fourth quarter ended March 31, 2015, the company announced $6.4 million of asset impairment charges.
The company provided revenue guidance for the first quarter and earnings guidance for the full year of fiscal 2016. The company announced that in the June quarter vessel revenue will be somewhere between $290 million and $300 million.
The company announced that capital expenditure for fiscal 2016 that is related to vessels under construction is estimated at approximately $263 million, more than half of which is expected to be expended in the June quarter. The company is currently assuming a 24% to 25% tax rate for fiscal 2016.
Tidewater Inc. to Report Q4, 2015 Results on May 26, 2015
May 6 15
Tidewater Inc. announced that they will report Q4, 2015 results at 5:00 PM, Eastern Standard Time on May 26, 2015