NEW ORLEANS — Offshore fleet services provider Tidewater said Tuesday that its fiscal first-quarter net income declined 9 percent, hindered by some charges.
The company earned $30.1 million, or 61 cents per share, for the three months ended June 30. That’s down from $32.9 million, or 65 cents per share, a year earlier.
The current quarter included 7 cents per share in charges tied to acquisition-related costs for Troms Offshore Supply AS and a settlement with the Customs Department of Equatorial Guinea.
Removing the charges, earnings were 68 cents per share.
Analysts expected higher earnings of 76 cents per share, according to a FactSet poll.
Revenue increased 14 percent to $334.1 million from $294.4 million, topping Wall Street’s $333.2 million forecast.