Tidewater reports third quarter earnings

Offshore service vessel operator Tidewater Inc. (NYSE:TDW) announced today third quarter net earnings for the period ended December 31, 2010, of $34.4 million, or $0.67 per common share, on revenues of $271.8 million. For the same quarter last year, net earnings were $59.9 million, or $1.16 per common share, on revenues of $286.5 million.

Tidewater will hold a conference call to discuss December quarterly earnings on Friday, February 4, 2011, at 10:00 a.m. Central time, promptly following the Company’s release of quarterly earnings. Investors and interested parties may listen to the teleconference via telephone by calling 1-888-388-7493 if calling from the U.S. or Canada (1-706-679-8348 if calling from outside the U.S.) and ask for the “Tidewater” call just prior to the scheduled start. A replay of the conference call will be available beginning at 12:00 p.m. Central time on February 4, 2011, and will continue until 11:59 p.m. Central time on February 6, 2011. To hear the replay, call 1-800-642-1687 (1-706-645-9291 if calling from outside the U.S.). The conference call ID number is 36613141.

A simultaneous webcast of the conference call will be accessible online at the Tidewater Inc. website, www.tdw.com. The online replay will be available until March 14, 2011.

Tidewater Inc. owns 384 vessels, the world’s largest fleet of vessels serving the global offshore energy industry.

February 4, 2011