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Diamond Offshore's revenue falls due to weak oil price
February 9, 2015 / 11:12 AM / 3 years ago

Diamond Offshore's revenue falls due to weak oil price

Feb 9 (Reuters) - Rig contractor Diamond Offshore Drilling Inc reported a 7 percent drop in quarterly revenue as demand dropped due to weak oil prices, and said it would not pay a special dividend, a first since 2006.

The Houston-based company’s revenue fell to $675.3 million in the fourth quarter from $726.5 million a year earlier.

The company’s net income rose to $98.8 million, or 72 cents per share, in the quarter ended Dec. 31, from $92.6 million, or 67 cents per share, a year earlier.

Reporting by Sneha Banerjee and Shubhankar Chakravorty in Bengaluru; Editing by Don Sebastian

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