Rowan Cos. (RDC) Misses Q1 EPS by 1c

Rowan Cos. (NYSE: RDC) reported Q1 EPS of $0.07, $0.01 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $374.3 million versus the consensus estimate of $357.55 million.

Tom Burke, President and Chief Executive Officer, commented, "While our revenues were down significantly year-over-year as a result of poor market conditions, I am pleased with our continued strong operating performance and sustained cost reduction efforts. We are preparing to start up our new joint venture with Saudi Aramco in the second quarter and look forward to the long term growth of this new company with our partner."

For earnings history and earnings-related data on Rowan Cos. (RDC) click here.

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