Diamond Offshore's Profits Are Strong

Diamond Offshore Drilling Inc., a Houston-based marine oil and gas drilling contractor, on Tuesday reported a 24.7 percent rise in net profits, boosted by strength in all the company's business. The company posted first-quarter net income of $36.8 million, or $.27 a share, up from $29.5 million, or $.21 a share in the same period last year.

Analysts on average were expecting the company to report first quarter earnings of $.23 a share. The company's shares closed at $40.31 on Monday. They have traded in a 52-week range of $29.56 and $47.94.