Parker Drilling Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company's revenues were $109,675,000 against $98,271,000 a year ago. Total operating loss was $16,266,000 against $27,137,000 a year ago. Loss before income taxes was $27,192,000 against $37,467,000 a year ago. Net loss available to common stockholders was $29,702,000 against $39,809,000 a year ago. Basic and diluted loss per share was $0.21 against $0.31 a year ago. EBITDA was $12,597,000 against $5,605,000 a year ago. Adjusted EBITDA was $11,940,000 against $5,417,000 a year ago. Adjusted net loss available to common shareholders was $29,702,000 against $39,809,000 a year ago. Adjusted diluted loss per share was $0.21 against $0.31 a year ago. Capital expenditures in the first quarter were $8.9 million, with 94% dedicated to Rental Tools Services business.

For 2018, The Company expects effective tax rate to be between negative 5% and negative 15%. The company expects CapEx of approximately $60 million in 2018.