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SEC Filings

S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document
 
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                         WELLTECH, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE YEARS ENDED DECEMBER 31, 1994, 1993 AND 1992

                                 (In Thousands)



                                                                  1994             1993           1992
                                                                --------         -------        --------
<S>                                                         <C>                <C>             <C>  

REVENUES                                                       $ 49,043          $56,157         $58,680
                                                               --------          -------         -------

OPERATING COSTS AND EXPENSES:

  Direct operating                                               39,050           45,522          45,986
  General and administrative                                      8,474            9,520          11,732
  Depreciation and amortization                                   2,775            3,095           3,572
                                                               --------          -------         -------
      Total operating costs and expenses                         50,299           58,137          61,290
                                                               --------           ------         -------

LOSS FROM OPERATIONS                                             (1,256)          (1,980)         (2,610)
                                                                 -------          -------        --------

OTHER (INCOME) AND EXPENSE

  Interest expense                                                  735            3,218           3,019
  Interest income                                                  (130)             (71)           (203)
  Investment valuation provision                                      -              582           2,369
  Equity in (earnings) losses of
  unconsolidated affiliates                                         492              (88)            (68)
  Gain on disposition of assets                                  (2,943)            (336)            (49)
  Other (income) expense, net                                       801              (78)            142
                                                              ---------           -------         ------
       Total Other (Income) and Expense                          (1,045)           3,227           5,210


LOSS BEFORE INCOME TAXES                                           (211)          (5,207)         (7,820)

INCOME TAX EXPENSE                                                  -                  -              -
                                                               --------         ---------       ---------

NET LOSS                                                       $   (211)         $(5,207)        $(7,820)
                                                               =========        =========        ========
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                     The accompanying notes are an integral
                      part of these consolidated financial
                                   statements.

                                      F-40