Transocean, a provider of offshore contract drilling services for the oil and gas industry, has reported a net income of $800 million, or $2.50 per diluted share, for the fourth quarter ended December 31, 2008, compared to $1.06 billion, or $4.17 per diluted share, for the same period of 2007.
The company has reported revenues of $3.27 billion for the fourth quarter of 2008, compared to $2.07 billion for the same period of 2007.
For the year ended December 31, 2008, the company has reported a net income of $4.2 billion, or $13.09 per diluted share, compared to $3.13 billion, or $14.14 per diluted share, for the year 2007.
Furthermore, for the year ended December 31, 2008, Transocean has reported revenues of $12.674 billion, compared to $6.377 billion for the year ended December 31, 2007.
The company has reported cash flow from operating activities of $1.19 billion for the fourth quarter 2008, compared to $915 million for the same quarter of 2008.
For the full year 2008, Transocean has reported cash flow from operating activities of $4.96 billion, compared to $3.07 billion for the full year 2007.
Transocean is engaged in offshore drilling and providing drilling management services. With a fleet of 136 mobile offshore drilling units and 10 announced ultra-deepwater newbuild units, the company claims its fleet to be a modern one.
