HOUSTON, July 22, 2013 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) (the "Company"), an international drilling contractor and drilling services and rental tools provider, is electing to provide selected preliminary financial data for the three month period ended June 30, 2013, to prospective investors in connection with its previously announced offering of senior notes. The Company does not generally release preliminary results and does not expect to provide similar information on a regular basis in the future.
Selected Preliminary Financial Data for the Three Months Ended June 30, 2013
The selected financial data presented below are preliminary, based upon the Company's estimates, and are subject to revision based upon the Company's financial closing procedures and the completion of the Company's financial statements. The Company's actual results may be materially different from its estimates. In addition, these estimated results are not necessarily indicative of the Company's results for the full fiscal year or any future period. The preliminary financial data included below has been prepared by, and is the responsibility of, the management of the Company. The Company's independent auditor has not audited, reviewed, compiled or performed any procedures with respect to the accompanying preliminary financial data. Accordingly, the Company's independent auditor does not express an opinion or any other form of assurance with respect thereto.
Shown below are the Company's preliminary estimates of revenues, depreciation and amortization expense, operating income, and net income for the 2013 second quarter, along with comparable results for the 2013 first quarter. The Company's estimates are based on the information available to the management of the Company as of the date of this news release.
| For the three months ended, |
| (millions) | June 30, 2013 |
| March 31, 2013 |
| Revenues | $215 - $230 |
| $167.2 |
| Depreciation and Amortization expense | $ 31 - $ 34 |
| $ 29.5 |
| Operating income | $ 27 - $ 33 |
| $ 8.9 |
| Net income | $ 7 - $ 11 |
| $ 0.6 |
