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Parker Drilling Co. Message Board

  • yahoo yahoo May 11, 2005 8:42 PM Flag

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    • Can you believe this outfit?
      non-recurring items, this POS lost $.19 per share!!! Is it ever
      going to turn profitable??? And Bobby thinks this is an
      improvement over the last two quarters?????

      October 25, 8:00 am Eastern Time
      SOURCE: Parker Drilling Company
      Parker Drilling
      Reports Improved Results for Third Quarter
      Okla., Oct. 25 /PRNewswire/ -- Parker Drilling Company
      (NYSE: PKD - news) today reported unaudited revenues of
      $101,849,000 and a net loss of $1,034,000 or $0.01 per share
      for the three months ended September 30, 2000. For
      the same quarter of 1999, the company reported
      unaudited revenues of $80,080,000 and net income of
      $1,325,000 or $0.02 per share. Results for both quarterly
      periods contained non-recurring items.

      Included in
      the results for the quarter ended September 30, 2000,
      was a $7.4 million gain on the sale of one million
      shares of common stock of Unit Corporation. These shares
      were received by the company in partial consideration
      for its sale of 13 lower-48 land rigs to Unit
      Corporation in September 1999. Excluding this gain and
      related income tax effects, results for the third quarter
      2000 would have approximated a net loss of $5.8
      million or $0.07 per share. Results for the quarter ended
      September 30, 1999, included the gain on the sale of the
      lower-48 land rigs as well as several non-recurring and
      non-cash expense items. Adjusting for these items and
      related income tax effects would have resulted in a net
      loss of approximately $15.0 million or $0.19 per

      ``Results for the third quarter show a substantial
      improvement over the first and second quarters of this
      year,'' said Robert L Parker Jr., president and chief
      executive officer. ``Drilling activity continues to be
      strong in our Gulf of Mexico market, driven by
      operators' efforts to increase natural gas reserves.
      Activity has picked up a bit in international markets, but
      the big improvement should occur in 2001 once
      operators approve their drilling budgets.''

      On a
      sequential basis, revenues increased by $14.9 million over
      the $87.0 million reported in the second quarter of
      2000. Each of the company's business segments
      contributed to the increase, with the domestic offshore
      increase coming from higher dayrates, the international
      land increase coming from higher utilization, and
      Quail Tools' increase from higher rental activity. The
      improvement in international offshore revenues stemmed from
      Nigeria where fewer community disturbances allowed more
      consistent utilization of the company's four barge rigs.
      EBITDA (earnings before interest, taxes, depreciation,
      and amortization) for the company rose to $31.0
      million for the third quarter as compared to $23.0
      million in the second quarter.

      Parker Drilling
      Company's management team will host its third quarter
      conference call October 25 beginning at 11 a.m. EDT. The
      call-in number is 212-896-6113 with reservation number
      16274526. You also can access the call through the Parker
      Drilling Web site at

      • 2 Replies to kollmnh
      • Hey kollmnh,

        Maybe you need to go back to
        3rd grade and learn how to read, jackass. The $0.19
        loss was in the third qtr of LAST YEAR. Put the crack
        pipe down, its now 2000 in case you missed that big
        party last Dec 31/Jan 1. I realized you weren't the
        sharpest tool in the shed when you complained about Parker
        not reducing bank debt. Had you read the financial
        statements (in case you don't know they release those oh
        about every qtr) they don't have any bank debt. Please
        spare us your mindless dribble in the future.

      • not $.19/share. i know this company's management
        is terrible but let's get the facts straight. yes,
        it is an improvement over the last two quarters. if
        pkd can lower its debt levels, earnings should be
        positive. that is a million dollar question.

        did you
        pick up any atw during this selloff? i'm itching to
        get back in. deep off shore drillers' revenues are
        not improving as fast as i thought they would due to
        the majors capex constraints. to screw clinton, maybe
        majors are spending less on e&p to keep the oil prices
        high. so, i'm hoping as soon as bush takes over the
        white house, they would loosen their purse. currently,
        money is tied up in mostly deep offshore drillers.

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