Parker Drilling (PKD) Misses Q4 EPS by 1c
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Parker Drilling Reports 2016 Fourth Quarter Results
February 15, 2017 5:19 PM ESTHOUSTON, Feb. 15, 2017 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced results for the fourth quarter ended December 31, 2016, including a reported net loss of $48.9 million, or a $0.39 loss per share, on revenues of $94.0 million.
The net loss includes a pre-tax $0.9 million expense related to executive departures and a $6.8 million non-cash valuation allowance taken primarily against UK deferred tax assets largely relating to fixed assets. The valuation allowance accounted for $0.05 of the reported loss per share. While the deferred tax assets have been reserved on the Company's financial statements, they... More
