Independence Contract Drilling (ICD) Tops Q1 EPS by 3c

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Go back to Independence Contract Drilling (ICD) Tops Q1 EPS by 3c

Independence Contract Drilling, Inc. Announces First Quarter Results

May 7, 2015 7:00 AM EDT

HOUSTON, May 7, 2015 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:  ICD) today reported financial results for the three months ended March 31, 2015. 

First Quarter 2015 Highlights

Net income of $1.4 million, or $0.06 per share. Excluding non-operating items summarized below aggregating to income of $0.5 million, or $0.03 per share (net of tax), net income was $0.9 million or $0.03 per share. Adjusted EBITDA improved by 102% to $6.3 million for the first quarter of 2015, compared to $3.1 million for the first quarter of 2014. Adjusted EBITDA decreased by 10% sequentially compared to the fourth quarter of 2014 due to costs associated with... More