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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 11/09/2017
Entire Document
 


 
http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=11881317&doc=3
 
November 8, 2017

 
 
 


 
Three Months Ended September 30, 2017
 
U.S. Rig Services
 
Fluid Management Services
 
Coiled Tubing Services
 
Fishing and Rental Services
 
International
 
Functional Support
 
Total
Net loss
$
(495
)
 
$
(7,249
)
 
$
1,854

 
$
(2,355
)
 
$
3,310

 
$
(33,285
)
 
$
(38,220
)
Income tax benefit

 

 

 

 
(99
)
 
3

 
(96
)
Interest expense, net of amounts capitalized

 

 

 

 

 
8,090

 
8,090

Interest income

 

 

 

 
(1
)
 
(181
)
 
(182
)
Depreciation and amortization
8,009

 
5,350

 
1,259

 
5,855

 
234

 
407

 
21,114

EBITDA
$
7,514

 
$
(1,899
)
 
$
3,113

 
$
3,500

 
$
3,444

 
$
(24,966
)
 
$
(9,294
)
    % of revenues
12.1
%
 
(9.2
)%
 
24.9
%
 
24.7
%
 
258.8
 %
 
%
 
(8.4
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Severance costs
202

 

 
4

 

 

 
163

 
369

Stock-based compensation
340

 
(108
)
 
54

 

 

 
3,044

 
3,330

Restructuring items, net

 

 

 

 

 
60

 
60

(Gain) loss on sales of assets
(365
)
 
(72
)
 
4

 
(278
)
 

 

 
(711
)
Legal settlements

 
4,000

 

 

 

 
7,562

 
11,562

Gain on sale of business in Russia

 

 

 

 
(4,677
)
 

 
(4,677
)
Adjusted EBITDA*
$
7,691

 
$
1,921

 
$
3,175

 
$
3,222

 
$
(1,233
)
 
$
(14,137
)
 
$
639

    % of revenues
12.4
%
 
9.3
 %
 
25.4
%
 
22.7
%
 
(92.6
)%
 
%
 
0.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
61,933

 
$
20,713

 
$
12,499

 
$
14,177

 
$
1,331

 
$

 
$
110,653

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


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