The New York-listed offshore giantposted a profit of $41.4m in the three months to 30 September, against adeficit of $4.9m this time last year.
The result amounted to a gain of $0.83per share, nine cents higher than equity analysts’ quarterly consensus forecast.
Twelve months ago, earnings wereimpacted by a non-cash goodwill impairment charge of $30.9m after changing theway it reported the performance of various market segments.
Revenue climbed 24% to $331.9m duringthe latest period in which it benefited from what the company described asretroactive rate increases.
Vessel revenues improved in all ofTidewater’s key markets but the most impressive gain came from a segment dubbedSub-Saharan Africa/Europe, which saw its second-quarter contribution soar 48% to$149.7m year-on-year.
