Tidewater moved closer to the positive side of the ledger, in part due to merging with Gulfmark Offshore late last year.
The John Rynd-led owner of 270 vessels posted a $21.3m net loss for the first quarter versus a $39.3m loss during the same period last year.
The company registered a $0.58 loss per share, better than a $1.67 loss per share a year earlier and beating two analysts' average estimate of $0.68
