February 18, 2010 / 11:31 PM / 8 years ago

UPDATE 1-Seacor Holdings Q4 tops estimates

* Q4 EPS $1.04 vs est $1.01 * Operating rev up 5 pct

Feb 18 (Reuters) - Oilfield services company Seacor Holdings Inc (CKH.N) posted a better-than-expected quarterly profit, as its inland river services business helped offset declines in its other major segments.

The company said higher freight rates and increased freight loadings due to seasonal harvest activity helped its inland river services business post a 56 percent rise in revenue.

For the fourth quarter, net income attributable to Seacor was $22.2 million, or $1.04 a share, compared with $70.5 million, or $3.11 a share, last year.

    Revenue rose 5 percent to $476.5 million.

    Analysts on average were expecting the company to post a profit of $1.01 a share, before items, on revenue of $431.2 million, according to Thomson Reuters I/B/E/S.

    The company, which provides equipment and services supporting the offshore oil and gas and marine transportation industries, said it called and settled all of its outstanding convertible senior debentures due 2024.

    Shares of the Fort Lauderdale-based company closed at $72.49 on the New York Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Anil D‘Silva)

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