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2014-02-27 10:06:00

ROWAN: GROWTH FINISHED?

ROWAN: GROWTH FINISHED?

ROWAN COMPANIES published 4th Quarter and Full Year 2013 results:

REVENUE:

  • Q4-2013 to Q4-2012: growth from $ 354.2 M to $ 393.4 M, $ 39.2 M, 11.1%; 
  • 2013 to 2012: growth from $ 1.392 B to $ 1.579 B, $ 187 M, 13.4%.

OPERATING INCOME:

  • Q4-2013 to Q4-2012:  $ 60.5 M to $ 60.5 M, $ 0, 0%;  
  •  2013 to 2012: growth with $ 255 M to $ 331.7 M, $ 76.7 M, 30.1%;    

NET INCOME:

  • Q4-2013 to Q-4 2012: down from $ 54.1 M  to $ 49.7 M, $ 4.4 M, 8.1%;
  • 2013 to 2012: growth  from $ 180.6 M to $ 252.6 M, $ 72 M, 39.9%.

 

 

 

ROWAN  COMPANIES  PLC

CONDENSED  CONSOLIDATED  STATEMENTS  OF  OPERATIONS

Unaudited  (In  Millions  Except  Per  Share  Amounts)

                       
             

THREE  MONTHS

 

TWELVE  MONTHS

             

ENDED  DECEMBER  31

 

ENDED  DECEMBER  31

             

2013

 

2012

 

2013

 

2012

                           

REVENUES

         

$  393.4

 

$  354.2

 

$  1,579.3

 

$  1,392.6

                           

COSTS  AND  EXPENSES:

                     
 

Operations

       

223.5

 

193.8

 

860.9

 

752.2

 

Depreciation and amortization

     

70.6

 

64.5

 

271.0

 

247.9

 

Selling, general and administrative

   

35.4

 

25.8

 

131.3

 

99.7

 

(Gain)/loss on disposals of property and equipment

 

(1.1)

 

0.2

 

(20.1)

 

(2.5)

 

Material charges and other expenses

   

4.5

 

9.4

 

4.5

 

40.3

   

Total

       

332.9

 

293.7

 

1,247.6

 

1,137.6

INCOME  FROM  OPERATIONS

     

60.5

 

60.5

 

331.7

 

255.0

Net interest and other income

     

(16.6)

 

(12.7)

 

(70.5)

 

(71.5)

INCOME  FROM  CONTINUING  OPERATIONS  BEFORE  INCOME  TAXES

43.9

 

47.8

 

261.2

 

183.5

Provision for income taxes

     

(5.8)

 

(22.7)

 

8.6

 

(19.8)

NET  INCOME  FROM  CONTINUING  OPERATIONS

   

49.7

 

70.5

 

252.6

 

203.3

Discontinued operations, net of tax

     

-

 

(16.4)

 

-

 

(22.7)

NET  INCOME

         

$    49.7

 

$    54.1

 

$     252.6

 

$     180.6

                           

PER  SHARE  AMOUNTS:

                     
 

Income from continuing operations

   

$    0.40

 

$    0.57

 

$       2.03

 

$       1.65

 

Discontinued operations, net of tax

   

$          -

 

$   (0.13)

 

$             -

 

$     (0.18)

 

Net income

       

$    0.40

 

$    0.44

 

$       2.03

 

$       1.47

                           

AVERAGE  DILUTED  SHARES

     

124.7

 

124.1

 

124.5

 

123.9

                         

More information here.

 

Tags: ROWAN

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