Research & Development World

  • R&D World Home
  • Topics
    • Aerospace
    • Automotive
    • Biotech
    • Careers
    • Chemistry
    • Environment
    • Energy
    • Life Science
    • Material Science
    • R&D Management
    • Physics
  • Technology
    • 3D Printing
    • A.I./Robotics
    • Software
    • Battery Technology
    • Controlled Environments
      • Cleanrooms
      • Graphene
      • Lasers
      • Regulations/Standards
      • Sensors
    • Imaging
    • Nanotechnology
    • Scientific Computing
      • Big Data
      • HPC/Supercomputing
      • Informatics
      • Security
    • Semiconductors
  • R&D Market Pulse
  • R&D 100
    • Call for Nominations: The 2025 R&D 100 Awards
    • R&D 100 Awards Event
    • R&D 100 Submissions
    • Winner Archive
    • Explore the 2024 R&D 100 award winners and finalists
  • Resources
    • Research Reports
    • Digital Issues
    • R&D Index
    • Subscribe
    • Video
    • Webinars
  • Global Funding Forecast
  • Top Labs
  • Advertise
  • SUBSCRIBE

Hercules Offshore 2Q loss widens

By R&D Editors | July 27, 2012

Hercules Offshore posted a wider second-quarter loss as revenue slid outside the United States.

The company’s domestic offshore revenue soared 85 percent as rigs were busier and brought in more money per day. Hercules said that based on discussions with customers, it expects solid demand for shallow-water rigs in the Gulf of Mexico into next year. However, revenue slumped 58 percent due to rig damage, maintenance and the expiration of a contract.

The second-quarter loss was $55.1 million, or 35 cents per share, compared with a loss of $14.3 million, or 11 cents per share, a year earlier.

The company said that excluding charges such as the write-down of a damaged rig and debt-refinancing expenses, it would have lost 12 cents per share.

Revenue rose 5 percent to $179 million from $170.2 million a year ago.

Analysts, who usually exclude items from their calculations, expected a loss of 10 cents per share on revenue of $175.1 million, according to a survey by FactSet.

Hercules Offshore Inc., based in Houston, had 45 rigs on June 30, with 35 of them deployed in U.S. waters.

Shares rose 14 cents, or 4.1 percent, to $3.58 in midday trading.

Related Articles Read More >

Sandia
Sandia Truman Fellows advance quantum optics from lab to wafer-scale and field applications
Sandia National Laboratories’ Kenneth Armijo, project lead, stands beside the Sandia Molten Salt Test Loop, the world’s largest lab-scale molten salt testing facility. (Photo by David Lienemann)
Sandia to restart molten-salt test loop with $2.5 million DOE funding
2025 R&D layoffs tracker tops 92,000
Efficiency first: Sandia’s new director balances AI drive with deterrent work
rd newsletter
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest info on technologies, trends, and strategies in Research & Development.
RD 25 Power Index

R&D World Digital Issues

Fall 2024 issue

Browse the most current issue of R&D World and back issues in an easy to use high quality format. Clip, share and download with the leading R&D magazine today.

Research & Development World
  • Subscribe to R&D World Magazine
  • Enews Sign Up
  • Contact Us
  • About Us
  • Drug Discovery & Development
  • Pharmaceutical Processing
  • Global Funding Forecast

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search R&D World

  • R&D World Home
  • Topics
    • Aerospace
    • Automotive
    • Biotech
    • Careers
    • Chemistry
    • Environment
    • Energy
    • Life Science
    • Material Science
    • R&D Management
    • Physics
  • Technology
    • 3D Printing
    • A.I./Robotics
    • Software
    • Battery Technology
    • Controlled Environments
      • Cleanrooms
      • Graphene
      • Lasers
      • Regulations/Standards
      • Sensors
    • Imaging
    • Nanotechnology
    • Scientific Computing
      • Big Data
      • HPC/Supercomputing
      • Informatics
      • Security
    • Semiconductors
  • R&D Market Pulse
  • R&D 100
    • Call for Nominations: The 2025 R&D 100 Awards
    • R&D 100 Awards Event
    • R&D 100 Submissions
    • Winner Archive
    • Explore the 2024 R&D 100 award winners and finalists
  • Resources
    • Research Reports
    • Digital Issues
    • R&D Index
    • Subscribe
    • Video
    • Webinars
  • Global Funding Forecast
  • Top Labs
  • Advertise
  • SUBSCRIBE