TIDEWATER INC. (NYSE:TDW) Files An 8-K Results of Operations and Financial Condition
Item 2.02.Results of Operations and Financial Condition.
In accordance with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, the Company notes that
certain statements set forth in this Current Report on Form 8-K
provide other than historical information and are forward
looking. The actual achievement of any forecasted results, or the
unfolding of future economic or business developments in a way
anticipated or projected by the Company, involve numerous risks
and uncertainties that may cause the Companys actual performance
to be materially different from that stated or implied in the
forward-looking statement. Among those risks and uncertainties,
many of which are beyond the control of the Company, include,
without limitation, the ability to confirm and consummate a plan
of reorganization in accordance with the terms of a
previously-disclosed prepackaged plan of restructuring (the
Prepackaged Plan); risks attendant to the bankruptcy process,
including the effects thereof on our business and on the
interests of various constituents, the length of time that we
might be required to operate in bankruptcy; risks associated with
third party motions in the bankruptcy cases, which may interfere
with the ability to confirm and consummate a plan of
reorganization in accordance with the terms of the Prepackaged
Plan; effects on the market price of our common stock and on our
ability to access the capital markets; our ability to maintain
our listing on the New York Stock Exchange (the NYSE); the
potential need to sell certain assets to raise additional
capital; volatility in worldwide energy demand and oil and gas
prices, and continuing depressed levels of oil and gas prices
without a clear indication of if, or when, prices will recover to
a level to support renewed offshore exploration activities;
consolidation of our customer base; fleet additions by
competitors and industry overcapacity; our views with respect to
the need for and timing of the replenishment of our asset base,
including through acquisitions or vessel construction; changes in
capital spending by customers in the energy industry for offshore
exploration, field development and production; loss of a major
customer; changing customer demands for vessel specifications,
which may make some of our older vessels technologically obsolete
for certain customer projects or in certain markets; delays and
other problems associated with vessel construction and
maintenance; uncertainty of global financial market conditions
and difficulty in accessing credit or capital; acts of terrorism
and piracy; integration of acquired businesses and entry into new
lines of business; disagreements with our joint venture partners;
significant weather conditions; unsettled political conditions,
war, civil unrest and governmental actions, such as expropriation
or enforcement of customs or other laws that are not well
developed or consistently enforced, or requirements that services
provided locally be paid in local currency, in each case
especially in higher political risk countries where we operate;
foreign currency fluctuations; labor changes proposed by
international conventions; increased regulatory burdens and
oversight; changes in laws governing the taxation of foreign
source income; retention of skilled workers; enforcement of laws
related to the environment, labor and foreign corrupt practices;
and the resolution of pending legal proceedings. Readers should
consider all of these risk factors as well as other information
contained in this report.
On June 12, 2017, the Company issued an earnings release
announcing its financial results for the quarter and year ended
March 31, 2017.
The press release is filed as Exhibit 99.1 to this Current Report
and is incorporated herein by reference as if fully set forth.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
The following exhibits are furnished with this Form 8-K:
|
99.1 |
Press Release dated June 12, 2017. |
About TIDEWATER INC. (NYSE:TDW)
Tidewater Inc. provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil. The Asia/Pacific segment includes its Australian and Southeast Asian and Western Pacific operations. The Middle East/North Africa segment includes its operations in the Mediterranean and Red Seas, the Black Sea, the Arabian Gulf and offshore India. The Company’s Sub-Saharan Africa/Europe segment includes operations conducted along the East and West Coasts of Africa, as well as operations in and around the Caspian Sea, the North Sea, and certain other arctic/cold water markets.
