Parker Drilling Co. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenues of $97,189,000 against $173,418,000 a year ago. Total operating loss was $29,576,000 against $4,547,000 a year ago. Loss before income taxes was $40,933,000 against $16,552,000 a year ago. Net loss was $46,228,000 or $0.37 per share basic and diluted against $48,482,000 or $0.40 per share basic and diluted a year ago. EBITDA was $4,556,000 against $34,187,000 a year ago. Adjusted EBITDA was $5,085,000 against $35,422,000 a year ago. Adjusted loss per share diluted was $0.37 against $0.10 per share a year ago.

For the nine months, the company reported revenues of $332,979,000 against $563,435,000 a year ago. Total operating loss was $81,067,000 against $3,380,000 a year ago. Loss before income taxes was $114,007,000 against $33,806,000 a year ago. Net loss was $181,885,000 or $1.47 per share basic and diluted against $58,638,000 or $0.49 per share basic and diluted a year ago.

For the fourth quarter of 2016, company expects effective tax rate to be between negative 10% and negative 20%.