UPDATE: Tidewater Posts Surge In Q4 Profit

Tidewater Inc TDW reported a strong rise in its fourth-quarter profit. Tidewater's quarterly profit surged to $33.6 million, or $0.66 per share, versus $12 million, or $0.23 per share, in the year-earlier period. Its revenue rose to $289.4 million from $254 million. Analysts were expecting earnings of $0.60 per share on revenue of $284.8 million. Tidewater shares closed at $45.39 on Friday.