Independent Contract Drilling: 3Q Earnings Snapshot
HOUSTON (AP) _ Independent Contract Drilling Inc. (ICD) on Tuesday reported a loss of $3.9 million in its third quarter.
On a per-share basis, the Houston-based company said it had a loss of 10 cents. Losses, adjusted for one-time gains and costs, came to 5 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 5 cents per share.
The provider of drilling services for oil and natural gas producers posted revenue of $28.4 million in the period.
The company’s shares closed at $4.25. A year ago, they were trading at $3.43.