Rowan Cos. 4Q Oper Net 62c A Basic Share Vs Net 28c
Rowan Cos. - Houston
4th Quar Dec. 31:
1997 1996
Revenues $190,246,000 $152,503,000
Net income a 53,927,000 23,606,000
Avg shrs 89,708,000 88,644,000
Shr earns (basic*)
Net income a .62 .28
Shr earns (diluted**)
Net income a .60 .27
a. Excludes $6.2 million charge for early debt redemption. Including the
charge, net income was $47.6 million or 55 cents a basic share and 53 cents
a diluted share.
* - 'Basic' earnings per share is calculated by dividing net earnings
applicable to common shares by common shares outstanding. This replaces
'primary' earnings per share, which included common stock equivalents in
the calculation. The year ago per share amounts are restated to reflect the
current presentation.
** - 'Diluted' earnings per share includes options, warrants and convertible
securities in the calculation. |
