Pacific Drilling S.A. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018
Pacific Drilling S.A. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenues contact drilling of $82,069,000 compared to $105,509,000 a year ago. Operating loss was $69,409,000 compared to $47,031,000 a year ago. Loss before income taxes was $95,777,000 compared to $97,771,000 a year ago. Net loss was $96,051,000 compared to $99,847,000 a year ago. Basic and diluted loss per common share was $4.50 compared to $4.69 a year ago. Net cash used in operating activities was $40,610,000 compared to net cash provided by operating activities of $28,712,000 a year ago. Capital expenditures were $3,888,000 compared to $10,127,000 a year ago. LBITDA was $10,928,000 compared to EBITDA of $21,871,000 a year ago. Adjusted EBITDA was $1,104,000 compared to $21,871,000 a year ago.