Rowan Companies Inc. Earnings Retreat 10% In Q1

(RTTNews) - Rowan Companies Inc. (RDC) announced a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line fell to $126.9 million, or $0.98 per share. This was down from $140.9 million, or $0.99 per share, in last year's first quarter.

Analysts had expected the company to earn $0.71 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.6% to $500.2 million. This was down from $547.0 million last year.

Rowan Companies Inc. earnings at a glance:

-Earnings (Q1): $126.9 Mln. vs. $140.9 Mln. last year. -Earnings Decline (Y-o-Y): -9.9% -EPS (Q1): $0.98 vs. $0.99 last year. -EPS Decline (Y-o-Y): -1.0% -Analysts Estimate: $0.71 -Revenue (Q1): $500.2 Mln vs. $547.0 Mln last year. -Revenue Change (Y-o-Y): -8.6%