Transocean (NYSE:RIG) Swings to Profit in Fiscal Q4 on Higher Revenue

Transocean LTD (NYSE:RIG) announced on Friday that it swing to profit in fiscal fourth-quarter, assisted by higher revenues in addition to absence of higher impairment charges booked in previous year.

Swiss Offshore contract driller forecasts capital expenditure of $3 billion for fiscal year 2013.

Switzerland based Transocean announced net income of $456 million or $1.26 a share in the fiscal Q4, evaluated against net loss of $6.2 billion or $18.76 a share in previous year.

Revenues for the three months period were $2.33 billion, contrasted against $2.13 billion in previous year.

Thomson Reuters analysts survey most recently forecasted EPS of $0.82 on $2.37 billion of revenues for three months period.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. ENSCO PLC (NYSE:ESV) fell -0.71% to settle at $59.71, Rowan Companies PLC (NYSE:RDC) moved up +1.13% to end at $34.98 while Atwood Oceanics, Inc. (NYSE:ATW) dropped -0.80% to finish at $50.74 on Friday.

Transocean LTD (NYSE:RIG) last session’s volume of 3.45 million shares was higher than its average volume of 3.48 million shares. The stock after opening at $51.76 hit high price of $52.33 and then closed at $52.15 by scoring -0.29%.

RIG generated revenue of $9.59 billion in the previous twelve months. The Company showed a negative -60.62% in the net profit margin as well as in its operating margin which remained at -50.87%. Company’s annual sales growth for the past five years was 18.67%.

The RIG’s past twelve months’ price to sales ratio was 1.74 and price to cash ratio remained 2.77. As far as the returns are concerned, RIG’s return on equity was recorded as -32.46% and return on investment decreased -19.07% while its return on asset stayed at -16.15%.

The stock showed weekly downbeat performance of -2.12% which was maintained for the month at -9.15%. Likewise the positive performance for the quarter was recorded as 15.68% and for the year was -3.75% while the YTD performance remained at 16.77%.

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