Parker Drilling Company (PKD) reported a fourth-quarter net loss to controlling interest of $20.10 million or $0.17 per share compared to a loss of $90.18 million or $0.77 per share prior year. Results for the period included $16.3 million, pre-tax, of non-routine expenses primarily related to the previously disclosed proposed settlement of U.S. Department of Justice and Securities and Exchange Commission investigations. Excluding the effects of non-routine items, the company reported a net loss of $4.0 million or $0.03 per share. Revenues decreased to $157.19 million from $181.07 million last year.
The company's prior-year quarter results were negatively impacted by impairment and other charges of $170 million, which were partially offset by a tax benefit of $48.11 million.
On average, seven analysts polled by Thomson Reuters expected the company to report profit of $0.03 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $151.90 million for the quarter.
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