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SEC Filings

10-Q
KEY ENERGY SERVICES INC filed this Form 10-Q on 08/10/2017
Entire Document
 

Key Energy Services, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
 
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
 
Three Months Ended June 30, 2017
 
 
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2017
 
 
Six Months Ended June 30, 2016
REVENUES
$
107,780

 
 
$
95,012

 
$
209,232

 
 
$
206,100

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
Direct operating expenses
63,560

 
 
89,419

 
150,866

 
 
180,017

Depreciation and amortization expense
20,910

 
 
35,856

 
42,211

 
 
71,608

General and administrative expenses
30,334

 
 
40,903

 
61,330

 
 
87,148

Impairment expense

 
 

 
187

 
 

Operating loss
(7,024
)
 
 
(71,166
)
 
(45,362
)
 
 
(132,673
)
Interest expense, net of amounts capitalized
7,872

 
 
21,357

 
15,582

 
 
42,941

Other (income) loss, net
(961
)
 
 
412

 
(1,201
)
 
 
(819
)
Reorganization items, net
101

 
 

 
1,441

 
 

Loss before income taxes
(14,036
)
 
 
(92,935
)
 
(61,184
)
 
 
(174,795
)
Income tax benefit
853

 
 
133

 
1,142

 
 
379

NET LOSS
$
(13,183
)
 
 
$
(92,802
)
 
$
(60,042
)
 
 
$
(174,416
)
Loss per share:
 
 
 
 
 
 
 
 
 
Basic and diluted
$
(0.66
)
 
 
$
(0.58
)
 
$
(2.99
)
 
 
$
(1.09
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
 
Basic and diluted
20,099

 
 
160,982

 
20,098

 
 
160,514

See the accompanying notes which are an integral part of these condensed consolidated financial statements.

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