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RPC Continues Debt Reduction in Q3
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RPC, Inc. has announced its unaudited results for the third quarter ended September 30, 2015.
For the quarter ended September 30, 2015 revenues decreased 53.0 percent to $291.9 million compared to $620.7 million in the third quarter of last year. Revenues decreased compared to the prior year due to lower activity levels and pricing for our services. Operating loss for the quarter was $51.5 million compared to operating profit of $106.7 million in the prior year. Net loss for the quarter was $35.2 million or $0.16 loss per share, compared to net income of $64.9 million or $0.30 diluted earnings per share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to $15.4 million compared to $163.4 million in the prior year. 1
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