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SEC Filings

10-Q
KEY ENERGY SERVICES INC filed this Form 10-Q on 11/09/2017
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 September 30, 2017
 
 
Three Months Ended September 30, 2016
 
Nine Months Ended September 30, 2017
 
 
Nine Months Ended September 30, 2016
REVENUES
$
110,653

 
 
$
102,406

 
$
319,885

 
 
$
308,506

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
Direct operating expenses
87,115

 
 
96,071

 
237,981

 
 
276,088

Depreciation and amortization expense
21,114

 
 
33,467

 
63,325

 
 
105,075

General and administrative expenses
37,168

 
 
42,456

 
98,498

 
 
129,604

Impairment expense

 
 
40,000

 
187

 
 
40,000

Operating loss
(34,744
)
 
 
(109,588
)
 
(80,106
)
 
 
(242,261
)
Interest expense, net of amounts capitalized
8,090

 
 
21,120

 
23,672

 
 
64,061

Other (income) loss, net
(4,578
)
 
 
154

 
(5,779
)
 
 
(665
)
Reorganization items, net
60

 
 

 
1,501

 
 

Loss before income taxes
(38,316
)
 
 
(130,862
)
 
(99,500
)
 
 
(305,657
)
Income tax benefit
96

 
 
110

 
1,238

 
 
489

NET LOSS
$
(38,220
)
 
 
$
(130,752
)
 
$
(98,262
)
 
 
$
(305,168
)
Loss per share:
 
 
 
 
 
 
 
 
 
Basic and diluted
$
(1.90
)
 
 
$
(0.81
)
 
$
(4.89
)
 
 
$
(1.90
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
 
Basic and diluted
20,106

 
 
160,846

 
20,101

 
 
160,626

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

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