1 Min Read
Feb 6 (Reuters) - Rig contractor Diamond Offshore Drilling Inc reported a profit, compared with a year-ago loss, when it recorded a charge of $499 million.
The company's net income was $73.1 million, or 53 cents per share, for the quarter ended Dec. 31, compared with a loss of $245.4 million, or $1.79 per share, a year earlier.
Net income in the latest quarter included 26 cents per share benefit attributable to a contract dispute settlement with a client in the North Sea, Diamond Offshore said on Monday.
The Houston-based company's total revenue fell 29.5 percent to $391.9 million. (Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)