WASHINGTON (dpa-AFX) - Nabors Industries Ltd. (NBR) reported a fourth-quarter income attributable to the company of $27.0 million or $0.09 per share, compared to a net loss of $105.8 million or $0.36 per share in the same quarter last year.
The Company posted adjusted income derived from operating activities of $149.8 million for the latest quarter compared to $269.3 million in the fourth quarter of 2011.
Net income from continuing operations, excluding certain non-cash charges, was $129.3 million or $0.44 per share, up from $89.5 million or $0.30 per share in the fourth quarter of 2011, benefiting from net gains on asset dispositions, higher investment income and a favorable tax rate, said Nabors.
Meanwhile, operating revenues and earnings from unconsolidated affiliates fell to $1.62 billion, from $1.73 billion in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share on revenues of $1.66 billion for the quarter. Analysts' estimates typically exclude special items.
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