Parker Drilling Co. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenues of $118,308,000 against $97,189,000 a year ago. Total operating loss was $6,815,000 against $29,576,000 a year ago. Loss before income taxes was $18,392,000 against $40,933,000 a year ago. Net loss was $20,311,000 or $0.15 per share basic and diluted against $46,228,000 or $0.37 per share basic and diluted a year ago. Net Loss Available to Common Stockholders was $21,217,000 against $46,228,000 a year ago. EBITDA was $22,742,000 against $4,556,000 a year ago. Adjusted EBITDA was $23,155,000 against $5,085,000 a year ago. Adjusted loss per share diluted was $0.15 against $0.37 per share a year ago.

For the nine months, the company reported revenues of $326,186,000 against $332,979,000 a year ago. Total operating loss was $51,584,000 against $81,067,000 a year ago. Loss before income taxes was $84,004,000 against $114,007,000 a year ago. Net loss was $90,008,000 or $0.68 per share basic and diluted against $181,885,000 or $1.47 per share basic and diluted a year ago. Net Loss Available to Common Stockholders was $92,153,000 against $181,885,000 a year ago.

Company expects for the remainder of 2017, effective tax rate to range between negative 10% and negative 15%. Total 2017 CapEx to be approximately $60 million.

Company expects capital spending for the fourth quarter to range between $10 million and $15 million.