Parker Reports Surge in First Quarter Earnings beat estimates by 4 cents.
TULSA, Okla., Jan. 12 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD - news) reported today unaudited revenue of $109,880,000 and net income of $10,682,000 or $.14 per share for the first three months of fiscal 1998, which ended Nov. 30, 1997.
For the same quarter a year ago the comparison reflects total revenue of $45,198,000, and net income of $1,479,000 or $.02 per share.
''Strong demand in each of the company's industry segments offshore drilling, land drilling and rental tools contributed to the improvement in earnings,'' said Robert L. Parker Jr., president and chief executive officer. ''We completed our acquisition of Hercules Offshore Corporation on December 30 and now look forward to its contribution to Parker's earnings and cash flow,'' he added.
Parker is a Tulsa-based energy company specializing in barge and offshore drilling and workover services, land drilling, and specialized oil tool rentals. The company employs more than 4,000 persons worldwide. |
