Rowan Q2 Profit Surges

(RTTNews) - Rowan Co. plc. (RDC) Wednesday announced a surge in second quarter net income to $84.7 million or $0.68 per share, compared to $32.8 million or $0.26 per share last year. Excluding non-cash asset impairment charge of $0.07 per share, the company reported net income of $88 million or $0.70 per share compared to $41.1 million or $0.33 per share in the previous year.

On average, 33 analysts polled by Thomson Reuters expected the company to earn $0.56 per share. Analysts estimates usually exclude special items.

Total revenue for the quarter increased 20 percent to $508.7 million from $422.9 million a year ago. Wall Street was looking for $507.16 million.