Hercules Offshore (HERO) Posts Smaller-than-Expected Loss Ex-Items

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Hercules Offshore, Inc. Announces Second Quarter 2015 Results

July 23, 2015 7:01 AM EDT

HOUSTON, July 23, 2015 /PRNewswire/ -- Hercules Offshore, Inc. (Nasdaq: HERO) today reported a net loss of $88.3 million, or $0.55 per diluted share, on revenue of $79.2 million for the second quarter 2015, compared to net income of $6.6 million, or $0.04 per diluted share, on revenue of $243.0 million for the second quarter 2014. As outlined in the Reconciliation of GAAP to Non-GAAP Financial Measures, second quarter 2015 results include a pre-tax adjustment of $13.4 million related to retroactive dayrate concessions on the Hercules 261, 262 and 266, $10.6 million of costs related to financing and restructuring activities, a $3.6 million... More