Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Terry D who wrote (53825)	11/1/1999 4:42:00 PM
From: Razorbak	Read Replies (2) of 95453

Parker Drilling (PKD) Terry: IMHO, the two key numbers in Parker's latest earnings release are: a) Interest Expense... (15.0) MM b) EBITDA.............. 14.6 MM In other words, Parker is not even generating enough earnings before interest, tax, depreciation and amortization to cover the interest expense on their debt! The good news is that the working capital balance has improved as a direct result of their recent rig sales. The bad news is that they'll burn through almost the entire proceeds in just a few quarters at their current burn rate. Just my two cents. Razor

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