We previously posted an analysis of Tidewater's (TDW) preliminary financial results for the quarter that ended on 30 September 2007. Tidewater subsequently submitted a more complete quarterly report in a 10-Q filed with the SEC.
The additional data in the 10-Q did not materially change the analysis results or the gauge scores. For details, please see the earlier posting.
One point of interest: Our practice is to compute the Value Gauge using the share price at the end of the quarter. However, from the end of September until now, the price of Tidewater shares dropped from $62.84 to $50.45. When we recomputed the numbers with the current price per share, the Value Gauge increased from 13 to 19 points (out of 25 possible), and the Overall Gauge increased from 35 to 44 points (out of 100 possible). While not great, the overall score has moved out of the weak-to-disappointing category.
10 November 2007
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