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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 08/09/2017
Entire Document
 


 
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August 8, 2017

 
 
 


 
Three Months Ended June 30, 2017
 
U.S. Rig Services
 
Fluid Management Services
 
Coiled Tubing Services
 
Fishing and Rental Services
 
International
 
Functional Support
 
Total
Net loss
$
(19
)
 
$
(3,071
)
 
$
330

 
$
17,514

 
$
(1,074
)
 
$
(26,863
)
 
$
(13,183
)
Income tax benefit

 

 

 

 
31

 
(884
)
 
(853
)
Interest expense, net of amounts capitalized

 

 

 

 

 
7,872

 
7,872

Interest income

 

 

 

 
(18
)
 
(137
)
 
(155
)
Depreciation and amortization
7,895

 
5,469

 
1,284

 
5,850

 
32

 
380

 
20,910

EBITDA
$
7,876

 
$
2,398

 
$
1,614

 
$
23,364

 
$
(1,029
)
 
$
(19,632
)
 
$
14,591

    % of revenues
12.7
%
 
12.7
%
 
17.6
%
 
148.1
%
 
(47.4
)%
 
%
 
13.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Severance costs
855

 
29

 
11

 
94

 

 
661

 
1,650

Stock-based compensation
641

 
55

 
54

 

 

 
3,219

 
3,969

Restructuring items, net

 

 

 

 

 
101

 
101

(Gain) loss on sales of assets
(357
)
 
(239
)
 
(8
)
 
(20,711
)
 
338

 
9

 
(20,968
)
Adjusted EBITDA*
$
9,015

 
$
2,243

 
$
1,671

 
$
2,747

 
$
(691
)
 
$
(15,642
)
 
$
(657
)
    % of revenues
14.6
%
 
11.9
%
 
18.2
%
 
17.4
%
 
(31.8
)%
 
%
 
(0.6
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
61,802

 
$
18,867

 
$
9,165

 
$
15,776

 
$
2,170

 
$

 
$
107,780

* Adjusted EBITDA does not exclude costs incurred in connection with the Company’s FCPA investigations completed in 2016.

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