Hercules Offshore (HERO) Reports Q1 Loss of $1.35/Share
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Hercules Offshore, Inc. Announces First Quarter 2016 Results
May 5, 2016 5:14 PM EDTHOUSTON, May 5, 2016 /PRNewswire/ --Â Hercules Offshore, Inc. (Nasdaq: HERO) today reported a net loss of $26.9 million, or $1.35 per diluted share, on revenue of $50.9 million for the first quarter 2016, compared to Predecessor net loss of $57.1 million, or $0.35 per diluted share, on revenue of $122.6 million for the first quarter 2015. Diluted weighted average shares outstanding for the Successor was 20.0 million shares for the first quarter 2016, while the Predecessor's was 161.1 million shares for the first quarter 2015.
Upon emergence from Chapter 11 bankruptcy on November 6, 2015, Hercules adopted fresh start accounting, which resulted in the Company becoming a... More
