DO Reports-
Diamond Offshore Drilling Inc. Announces Fourth Quarter 2000 Earnings
HOUSTON--(BUSINESS WIRE)--Jan. 23, 2001--Diamond Offshore Drilling Inc. (NYSE:DO - news) today reported net income of $28.7 million, or $0.20 per share on a diluted basis, on revenues of $190.9 million for the fourth quarter of 2000, compared to net income of $13.2 million, or $0.10 per share on a diluted basis, on revenues of $170.9 million for the fourth quarter of 1999.
For the year ended December 31, 2000, the Company reported net income of $72.3 million, or $0.53 per share on a diluted basis, on revenues of $659.4 million, compared to net income of $156.1 million, or $1.11 per share on a diluted basis, on revenues of $821.0 million for 1999.
The Board of Directors has declared a cash dividend of $0.125 per common share payable March 1, 2001 to stockholders of record on February 1, 2001.
As of December 31, 2000, there were 133.2 million common shares outstanding. Depending on market conditions, the Company may, from time to time, purchase shares of its outstanding common stock in the open market or otherwise. During the fourth quarter of 2000, the Company repurchased 2.3 million shares of its common stock at an aggregate cost of $80.9 million.
Diamond Offshore is a leader in deep water drilling. The Company's fleet of 45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents. |
