The company earned net income of $252.6 million in 2013, up from $180.6 million in 2012 as revenues grew to $1.57 billion from $1.39 billion.
On a quarterly basis, net income slid to $49.7 million in the fourth quarter from $54.1 million in the year-ago period despite higher revenues as longer than expected downtime for leg repairs on the Rowan VII jack-up curtailed profits.
Equity
