Rowan Companies Inc. Reveals 66% Drop In Q3 Bottom Line

(RTTNews) - Rowan Companies Inc. (RDC) reported a profit for third quarter that dropped compared to the same period last year.

The company said its bottom line declined to $38.4 million, or $0.30 per share. This was lower than $111.4 million, or $0.89 per share, in last year's third quarter.

Analysts had expected the company to earn -$0.01 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 30.4% to $379.4 million. This was down from $545.4 million last year.

Rowan Companies Inc. earnings at a glance:

-Earnings (Q3): $38.4 Mln. vs. $111.4 Mln. last year. -Earnings Decline (Y-o-Y): -65.5% -EPS (Q3): $0.30 vs. $0.89 last year. -EPS Decline (Y-o-Y): -66.3% -Analysts Estimate: -$0.01 -Revenue (Q3): $379.4 Mln vs. $545.4 Mln last year. -Revenue Change (Y-o-Y): -30.4%