Tidewater reports lower earnings but says the markets it operates in are starting to stabilize

Tidewater Inc., a New Orleans-based supplier of vessels and marine support services for the global energy industry, said Friday that its earnings fell during the third quarter and that the markets it operates in are beginning to stabilize.
The company saw a 5.1 percent drop in revenues from $286.5 million in the third quarter of 2009 to $271.8 million in the third quarter of 2010. Net earnings also declined from $59.9 million in the third quarter of 2009 to $34.4 million in the third quarter of 2010, a 43 percent decrease.
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Source: Nola.com