Parker Drilling Co. on Thursday posted net income for the fourth quarter ended Dec. 31 of $37.2 million, or 34 cents a diluted share, on revenue of $146.3 million. In the same period in 2005, net income was $56.7 million, or 58 cents a share, on revenue of $149.6 million.
Pretax income for the quarter was $51.7 million, 18 percent higher than the $43.9 million recorded in the same period of 2005.
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For the full year, the Houston-based drilling contractor reported net income of $81 million, or 75 cents per diluted share, on revenue of $586.4 million, compared with $98.9 million, or $1.02 per diluted share, on revenue of $586.4 million in 2005.
Robert L. Parker Jr., chairman, president and chief executive officer of Parker Drilling (NYSE: PKD), said 2006 was a year of significant accomplishment, which he attributed to "the steadfast execution of our strategic growth plan." The company is "optimistic" about the outlook for 2007, he added.
source news : bizjournals.com
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