Net profit soared to $16.5m in the three months to 31 March from$2.8m for the corresponding period a year earlier.
Revenue rose by over 20% to $119.6m though the result camein slightly below expectations.
Despite that chief executive Quentin Kneen affirmed predictionsthat it will see record sales this year, bolstered by high day rates for itsnewbuildings.
"We recorded our highest first quarter revenue ever,and we still expect 2014 to produce our highest annual revenue ever,” he saidin the company’s earnings statement.
“We came in just under the midpoint of our first-quarterrevenue guidance, which resulted from slightly lower utilization than weoriginally anticipated, but overall, the average day rate increased during thequarter and we feel comfortable reaffirming our full-year revenue guidance ofbetween $525 and $555 million.”
