On April 26, Diamond Offshore Drilling
- Revenues grew 35.8% to $608.2 million, led by strong performance in the high-specification floaters and intermediate semi-submersibles segments.
- Though utilization rates dropped for jack-ups and semi-submersibles, for high-specification floaters, the company's largest segment, the rate increased year over year from 96% to 98%.
- Dayrates for the high-specification floaters segment increased year over year and versus the fourth quarter of 2006 by 48.1% and 10.7%, respectively.
- Diamond Offshore, like fellow aquatic drillers Transocean
(NYSE:RIG) and GlobalSantaFe(NYSE:GSF) , sports a five-star rating, the best possible, in the Motley Fool CAPS community-intelligence database.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$608.2 |
$447.7 |
35.8% |
|
Net Profit |
$224.2 |
$145.3 |
54.2% |
|
EPS |
$1.64 |
$1.06 |
54.7% |
|
Diluted Shares |
138.8 |
138.8 |
0.1% |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Operating Margin |
51.3% |
45.3% |
6.0 |
|
Net Margin |
36.9% |
32.5% |
4.4 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$553.8 |
$608.4 |
(9%) |
|
Accounts Rec. |
$464.8 |
$437.3 |
6.3% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Long-Term Debt |
$524.4 |
$969.3 |
(45.9%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
Data not provided.
Find out why free cash flow is a Fool's best friend.
Related Foolishness:
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