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Tidewater Reports Second Quarter Results For Fiscal 2014

Tidewater Inc. (NYSE:TDW) announced today second quarter net earnings for the period ended September 30, 2013, of $54.2 million, or $1.09 per common share, on revenues of $367.9 million. For the same quarter last year, net earnings were $41.4 million, or $0.83 per common share, on revenues of $311.9 million. The immediately preceding quarter ended June 30, 2013, had net earnings of $30.1 million, or $0.61 per common share, on revenues of $334.1 million.

Net earnings for the September 30, 2013 quarter reflect a $4.1 million ($3.0 million after tax, or $0.06 per common share) loss on early extinguishment of debt associated with bonds issued in April 2013 by Troms Offshore Supply AS, a wholly-owned subsidiary of the Company acquired in June 2013.

As previously announced, Tidewater will hold a conference call to discuss September quarterly earnings on Tuesday, November 5, 2013, at 10:00 a.m. Central time. Investors and interested parties may listen to the teleconference via telephone by calling 1-888-771-4371 if calling from the U.S. or Canada (1-847-585-4405 if calling from outside the U.S.) and ask for the “Tidewater” call just prior to the scheduled start. A replay of the conference call will be available beginning at 12:00 p.m. Central time on November 5, 2013, and will continue until 11:59 p.m. Central time on November 7, 2013. To hear the replay, call 1-888-843-7419 (1-630-652-3042 if calling from outside the U.S.). The conference call ID number is 35911627.

A simultaneous webcast of the conference call will be available online at the Tidewater Inc. website, ( The online replay will be available until December 5, 2013.

The conference call will contain forward-looking statements in addition to statements of historical fact. The actual achievement of any forecasted results or the unfolding of future economic or business developments in a way anticipated or projected by the Company involve numerous risks and uncertainties that may cause the Company’s actual performance to be materially different from that stated or implied in the forward-looking statements. Such risks and uncertainties include, among other things, risks associated with the general nature of the oilfield service industry and other factors discussed within the “Risk Factors” section of Tidewater’s recent Forms 10-Q and 10-K.

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