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S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document
 
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                                                  WellTech Summary Financial Data
                                        (In thousands, except per share amounts and ratios)

                                         Nine Months Ended
                                           September 30,                          Year Ended December 31,
                                          ---------------           ---------------------------------------------------
                                          1995       1994           1994        1993        1992        1991        1990
                                             (unaudited)
Statement of Operations Data:
<S>                                     <C>         <C>         <C>        <C>          <C>         <C>         <C>

Revenues                                 $ 52,180    $ 34,974    $ 49,043    $ 56,157    $ 58,680    $ 70,463    $ 70,070
Operating costs and expenses               50,970      35,997      50,299      58,137      61,290      75,944      71,324
Operating income (loss)                     1,210      (1,023)     (1,256)     (1,980)     (2,610)     (5,481)     (1,254)
Other income (expense), net                  (976)      2,003       1,045      (3,227)     (5,210)     (6,443)     (4,662)
Income (loss) before income taxes             234         980        (211)     (5,207)     (7,820)    (11,924)     (5,916)
Net income (loss)                             234         980        (211)     (5,207)     (7,820)    (10,335)     (5,916)
Net income (loss) per share(1)           $   0.66    $   2.78     $ (0.61)   $ (16.73)   $ (25.12)   $  (3.33)   $  (2.50)
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                                             As of                 As of
                                       September 30, 1995    December 31, 1994

                                          (unaudited)
      Balance Sheet Data:
  Total assets                             $ 68,998            $      58,176
  Debt, including current portion            16,752                    7,418
  Stockholders' equity (deficit)             36,882                   36,189



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Financial Ratios and Other Data:
<S>                                     <C>                     <C>          <C>         <C>          <C>       <C>
EBITDA(2)                                $  4,172                $  3,299     $  1,106     (1,229)     (3,825)   $  1,378
EBITDA as % of revenues(2)                   8.0%                    6.7%         2.0%       -2.1%       -5.4%       2.0%
Total debt as % of EBITDA(2)               401.5%                  224.9%      3010.2%    -2705.0%     -783.3%   2,226.0%
EBITDA to fixed charges(2)(3)              223.6%                  263.7%        27.8%      -31.2%      -78.9%      33.1%
Net cash (used) provided by:
       Operating activities                (1,803)                  4,631          933        (824)      1,439     (3,017)
       Financing activities                 5,691                   9,429         (619)      2,040         642      7,657
       Investing activities                (3,703)                (14,125)          (1)     (3,277)     (6,502)    (1,867)
Capital expenditures                        5,103                  13,738        1,748       1,979       6,445      3,061
Book value per share                       104.50                  104.15        (8.57)       8.16        3.33       3.63
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 (1)Reflects ten for one reverse stock split in 1992.

 (2)Net  income  loss  before   interest,   income   taxes,   depreciation   and
    amortization. EBITDA should not be considered as an alternative to operating
    or net income,  (as determined in accordance  with GAAP), as an indicator of
    Key's  performance  or  as an  alternative  to  cash  flows  from  operating
    activities  (as  determined  in  accordance  with  GAAP) or as a measure  of
    liquidity. (See "Management's Discussion and Analysis of Financial Condition
    and Results of Operations of WellTech.")

 (3)Fixed charges are the sum of (i) interest costs, (ii) interest  component
    of rent expenses, and (iii) amortization of deferred financing costs.



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