Independence Contract Drilling (ICD) Tops Q2 EPS by 3c

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Go back to Independence Contract Drilling (ICD) Tops Q2 EPS by 3c

Independence Contract Drilling, Inc. Reports Financial Results For The Second Quarter Ended June 30, 2016

July 28, 2016 6:45 AM EDT

HOUSTON, July 28, 2016 /PRNewswire/ -- INDEPENDENCE CONTRACT DRILLING, INC. (the "Company") (NYSE: ICD) today reported financial results for the three months ended June 30, 2016.

Second Quarter 2016 Highlights

Net loss of $4.2 million, or $0.12 per share. Adjusted net loss of $2.2 million, or $0.07 per share, excluding $2.0 million, or $0.05 per share, of charges summarized below. Adjusted EBITDA of $5.4 million. 66% utilization of marketed rigs. 732 revenue days. Margin per operating day of $11,359. Completion of the conversion of one of its non-walking rigs to 200 Series pad-optimal... More