Independence Contract Drilling (ICD) Misses Q3 EPS by 2c
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Independence Contract Drilling, Inc. Reports Financial Results For The Third Quarter Ended September 30, 2016
October 26, 2016 6:30 AM EDTHOUSTON, Oct. 26, 2016 /PRNewswire/ -- INDEPENDENCE CONTRACT DRILLING, INC. (the "Company") (NYSE: ICD) today reported financial results for the three months ended September 30, 2016.
Third Quarter 2016 Highlights
Reactivated five cold stacked and standby rigs. Net loss of $7.2 million, or $0.19 per share. Adjusted net loss of $6.5 million, or $0.17 per share, excluding $0.7 million, or $0.02 per share, of non-cash charges summarized below. Both net loss and adjusted net loss include $2.6 million, or $0.07 per share, of rig reactivation and severance costs. Adjusted EBITDA of $1.0 million, including $2.6 million of rig... More