Paragon Offshore (PGN) Reports Q1 Revenue of $430M, Offers Outlook

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Paragon Offshore Reports First Quarter 2015 Results

May 13, 2015 4:05 PM EDT

HOUSTON, May 13, 2015 /PRNewswire/ -- Paragon Offshore plc ("Paragon") (NYSE: PGN) today reported first quarter 2015 net income of $61.1 million, or $0.69 per diluted share as compared to first quarter 2014 net income of $124.6 million, or $1.47 per diluted share.  Results for the quarter include a $16.8 million, or $0.17 per diluted share, gain on the sale of an asset and a $4.3 million, or $0.05 per diluted share, gain related to the repurchase of an aggregate principal amount of $11 million of its senior unsecured notes. For periods prior to Paragon's spin-off from Noble Corporation plc ("Noble") on August 1, 2014 (the "Spin-Off"),... More