The US-listed OSV owner and operator reported net income of $18.8m, of 52 US cents against consensus estimates of 59 US cents.

Revenues were $160.2m, an increase of $15.3m, or 10.6%, from the $144.9m seen in the same period in 2013.

Analysts said operating results were hindered by lower-than-expected utilization and day rates in the OSV segment, slightly offset by better-than-expected results from the MPSV segment.

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