UPDATE: Diamond Offshore Posts 17% Drop In Q4 Profit, Declares Special Dividend
Diamond Offshore Drilling (NYSE: DO) reported a 17% drop in its fourth-quarter earnings. The company's board declared a special cash dividend of $0.75 per share.
Diamond Offshore's quarterly profit fell to $155.7 million, or $1.12 per share, versus $188.5 million, or $1.36 per share, in the year-ago period.
Its revenue rose 0.3% to $750.5 million. However, analysts were expecting earnings of $1.10 per share on revenue of $740 million.
Its operating margin declined to 26% from 29.2%.
Diamond Offshore shares closed at $76.48 yesterday.
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