Rowan Companies Q2 Profit From Cont. Ops. Rises - Quick Facts

(RTTNews) - Rowan Companies plc (RDC) reported that its second-quarter net income from continuing operations increased to $82.8 million, or $0.67 per share, from $50.9 million, or $0.41 per share in the second quarter of 2012.

The company noted that the second quarter of 2013 includes a $12.5 million after-tax gain, or $0.10 per share on the sale of a 116-C class jack-up rig. Excluding the sale of the Rowan-Paris, net income from continuing operations was $70.3 million, or $0.57 per share.

On average, 38 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $408.9 million in the second quarter of 2013, up 16% over the prior-year quarter due primarily to higher average day rates and higher utilization between periods. Analysts expected revenue of $399.62 million for the quarter.