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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 10/28/2011
Entire Document
 
 

Consolidated Statements of Operations (in thousands, except per share amounts, unaudited):
                                         
    Three Months Ended     Nine Months Ended  
    September 30,     June 30,     September 30,     September 30,     September 30,  
    2011     2011     2010     2011     2010  
 
   
REVENUES
  $ 501,315     $ 445,369     $ 283,739     $ 1,337,668     $ 803,483  
 
   
Direct operating expenses
    314,657       290,620       198,158       877,077       583,531  
Depreciation and amortization expense
    42,341       39,852       32,565       122,116       98,367  
General and administrative expenses
    62,932       55,003       46,833       170,714       130,726  
 
                             
Operating income (loss)
    81,385       59,894       6,183       167,761       (9,141 )
 
                             
Loss on debt extinguishment
                      46,451        
Interest expense, net of amounts capitalized
    11,236       10,041       10,626       31,588       31,614  
Other, net
    1,634       (7,319 )     (780 )     (8,070 )     (1,556 )
 
                             
Income (loss) from continuing operations before tax
    68,515       57,172       (3,663 )     97,792       (39,199 )
Income tax (expense) benefit
    (25,077 )     (20,812 )     1,383       (36,706 )     14,979  
 
                             
Income (loss) from continuing operations
    43,438       36,360       (2,280 )     61,086       (24,220 )
Income from discontinued operations, net of tax
                8,283             18,360  
 
                             
Net income (loss)
    43,438       36,360       6,003       61,086       (5,860 )
 
                             
Income (loss) attributable to noncontrolling interest
    (730 )     280       (769 )     (1,027 )     (2,816 )
 
                             
INCOME (LOSS) ATTRIBUTABLE TO KEY
  $ 44,168     $ 36,080     $ 6,772     $ 62,113     $ (3,044 )
 
                             
 
                                       
Earnings (loss) per share from continuing operations attributable to Key:
                                       
Basic and diluted
  $ 0.30     $ 0.25     $ (0.01 )   $ 0.43     $ (0.17 )
 
                                       
Earnings per share from discontinued operations:
                                       
Basic and diluted
  $     $     $ 0.06     $     $ 0.15  
 
                                       
Earnings (loss) per share attributable to Key:
                                       
Basic and diluted
  $ 0.30     $ 0.25     $ 0.05     $ 0.43     $ (0.02 )
 
                                       
Income (loss) from continuing operations attributable to Key:
                                       
Income (loss) from continuing operations
  $ 43,438     $ 36,360     $ (2,280 )   $ 61,086     $ (24,220 )
Income (loss) attributable to noncontrolling interest
    (730 )     280       (769 )     (1,027 )     (2,816 )
 
                             
Income (loss) from continuing operations attributable to Key
  $ 44,168     $ 36,080     $ (1,511 )   $ 62,113     $ (21,404 )
 
                             
 
                                       
Weighted average shares outstanding:
                                       
Basic
    147,722       142,833       125,637       144,274       125,336  
Diluted
    148,088       143,320       125,637       144,713       125,336  

 

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