Tidewater Reports Third Quarter Results For Fiscal 2007

Tidewater Inc. announced today third quarter net earnings for the period ended December 31, 2006, of $93.4 million, or $1.67 per common share, on revenues of $287.9 million. Included in the current quarter’s net earnings is a pre-tax financial gain of $6.0 million ($3.7 million after tax, or $0.07 per common share) related to the December 2006 sale of three of the company’s offshore tug vessels to Crosby Marine Transportation, LLC in completion of a transaction previously announced.