Independence Contract Drilling (ICD) Posts Q4 Loss of $1.02/Share

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Go back to Independence Contract Drilling (ICD) Posts Q4 Loss of $1.02/Share

Independence Contract Drilling, Inc. Announces Fourth Quarter And Year End Results

March 5, 2015 8:01 AM EST

HOUSTON, March 5, 2015 /PRNewswire/ -- INDEPENDENCE CONTRACT DRILLING, INC. (the "Company") (NYSE: ICD) today reported financial results for the three and twelve months ended December 31, 2014. 

Fourth Quarter 2014 Highlights

Net loss of $24.6 million, or $1.00 per share. Excluding non-operating items summarized below aggregating to charges of $27.3 million, or $1.02 per share (net of tax), relating to the write-off of goodwill and intangibles, non-cash gain on reduction in warrant derivative liability, and gain from receipt of insurance proceeds, net income was $0.4 million or $0.02 per share. Increased Adjusted EBITDA by 186.4% to $6.9 million for the fourth quarter of... More