Independence Contract Drilling (ICD) Tops Q4 EPS by 1c

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Go back to Independence Contract Drilling (ICD) Tops Q4 EPS by 1c

Independence Contract Drilling, Inc. Reports Financial Results For The Fourth Quarter And Year Ended December 31, 2016

February 28, 2017 6:30 AM EST

HOUSTON, Feb. 28, 2017 /PRNewswire/ -- INDEPENDENCE CONTRACT DRILLING, INC. (the "Company") (NYSE: ICD) today reported financial results for the three and twelve months ended December 31, 2016. 

Fourth Quarter 2016 Highlights

Net loss of $10.4 million, or $0.28 per share. Adjusted net loss of $5.2 million, or $0.14 per share. Adjusted EBITDA of $2.6 million. 78.2% utilization of marketed rigs. 936 revenue days. Margin per operating day, excluding reactivation costs, of $7,543.

For the fourth quarter of 2016, the Company reported revenues of $18.0 million, a net loss of $10.4 million, or... More