Rowan Reports Q4 EPS of $0.45 vs. $0.29

For the three months ended December 31, 2010, Rowan Companies, Inc. RDC generated net income of $57.3 million or $0.45 per share, compared to $60.8 million or $0.53 per share in the fourth quarter of 2009. Revenues were $458.8 million in the fourth quarter of 2010, compared to $399.8 million in the fourth quarter of 2009. Results for the fourth quarter of 2010 included $5.7 million or $0.03 per share of net gains on debt redemptions and asset disposals, compared to $1.4 million or $0.01 per share of asset disposal gains in the fourth quarter of 2009.