For the three months ended June 30, 2013, Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) generated net income from continuing operations of $82.8 million, or $0.67 per share, compared to $50.8 million, or $0.41 per share in the second quarter of 2012, the Company said in a press release.
The second quarter of 2013 includes a $12.5 million after-tax gain, or $0.10 per share on the sale of a 116-C class jack-up rig (Rowan-Paris). Excluding the sale of the Rowan-Paris, net income from continuing operations was $70.3 million, or $0.57 per share.
Rowan's revenues were $408.9 million in the second quarter of 2013, up 16% over the prior-year quarter due primarily to higher average day rates and higher utilization between periods.
Rowan Companies plc is a major provider of international and domestic contract drilling services with a leading position in high-specification jack-up rigs. The Company's fleet of 30 jack-up rigs is located worldwide, including the Middle East, the North Sea, Trinidad, Southeast Asia and the Gulf of Mexico. Rowan will enter the ultra-deepwater market with four high-specification drillships expected to be delivered starting in late 2013. The Company's Class A Ordinary Shares are traded on the New York Stock Exchange under the symbol "RDC".
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