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Diamond Offshore profit falls due to customers' cash flow issues

Thursday, 24 Oct 2013 | 6:10 AM ET

Oct 24 (Reuters) - Diamond Offshore Drilling Inc said its quarterly net income fell about 47 percent as its customers, oil and gas producers, had cash flow issues.

The offshore drilling contractor's net income fell to $95 million, or 68 cents per share in the third quarter, from $178 million, or $1.28 per share, a year earlier.

Contract drilling revenue fell about 3 percent to $691 million.

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