Tidewater Inc. Q1 Loss decreases, beats estimates

(RTTNews) - Tidewater Inc. (TDW) announced Loss for first quarter that decreased from last year and beat the Street estimates.

The company's bottom line came in at -$12.17 million, or -$0.29 per share. This compares with -$35.32 million, or -$0.87 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.6% to $105.73 million from $83.50 million last year.

Tidewater Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$12.17 Mln. vs. -$35.32 Mln. last year. -EPS (Q1): -$0.29 vs. -$0.87 last year. -Analyst Estimates: -$0.60 -Revenue (Q1): $105.73 Mln vs. $83.50 Mln last year.