Rowan Reports Third Quarter EPS of $.57

For the three months ended September 30, 2010, Rowan Companies, Inc. RDC generated net income of $67.2 million or $0.57 per share, compared to $78.4 million or $0.69 per share in the third quarter of 2009. Revenues were $437.9 million in the third quarter of 2010, compared to $393.4 million in the third quarter of 2009. Results for the prior-year period included a $17.0 million or $0.15 per share net tax benefit related to a third-party tax court ruling which provided that certain foreign-source income is not taxable in the United States.