The company reported $99.5 million in net income, or $1.53 per diluted share, compared to net income of $113 million, or $1.73 per diluted share, for the same period a year ago.
However, second-quarter revenues were down from $330.6 million last year to $227.8 million, above the consensus estimate of $225 million.
Contract drilling revenues alone plunged nearly $100 million year-on-year.
