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Article: Santa Fe International Corporation Reports Earnings for the Quarter and Year Ended December 31, 1999.
- Article from:
- PR Newswire
- Article date:
- January 26, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Jan. 26 /PRNewswire/ -- Santa Fe International Corporation (NYSE: SDC) today reported earnings for the quarter and year ended December 31, 1999.
Net income for the quarter was $16.3 million, or $0.14 per basic and diluted share, as compared to net income of $82.7 million, or $0.72 per basic and diluted share, for the same quarter of 1998.
Revenues for the fourth quarter of 1999 were $125.1 million versus $211.3 million for the same quarter of 1998. The $86.2 million decrease in revenues was primarily attributable to decreased utilization of marine and land rigs, reduced dayrates for marine rigs and lower revenues from drilling related services. ...