Key Energy Services (KEG) Tops Q1 EPS by 1c

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Key Energy Services Reports First Quarter 2015 Earnings and Announces Intention to Exit Operations Outside of North America

April 29, 2015 8:36 PM EDT

HOUSTON, April 29, 2015 /PRNewswire/ -- Key Energy Services, Inc. (NYSE: KEG) reported first quarter 2015 consolidated revenues of $267.8 million and a pre-tax GAAP loss of $91.1 million, or $0.39 per share. The results for the first quarter include:

a pre-tax charge of $21.7 million, or $0.09 per share, for a true-up to the impairment charge recorded in the fourth quarter 2014 associated with the Coiled Tubing Services segment; pre-tax costs of $18.0 million, or $0.08 per share, related to the previously disclosed Foreign Corrupt Practices Act ("FCPA") investigations; a pre-tax charge of $4.0... More