ARETHUSA (OFF-SHORE) LTD. REPORTS SECOND QUARTER LOSS BUT EXPECTS TURNAROUND FOR SECOND HALF OF ITS FISCAL YEAR PR Newswire | April 25, 1995 | COPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright

HOUSTON, April 25 /PRNewswire/ -- Arethusa (Off-Shore) Ltd. (Nasdaq-NNM: ARTHF) today announced that lower utilization and dayrates resulted in decreased revenues and net losses for the second quarter and six month period ended March 31, 1995 compared to a year ago.

The company said revenues for the second quarter ended March 31, 1995, slipped to $27.2 million from $31.0 million a year ago. For the quarter the company reported a net loss of $3,232,000, or $0.16 per share, compared to a net profit of $1,632,000, or $0.08 per share, in the comparable period a year before. ...

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