UPDATE 1-Parker Drilling breaks even in Q4, meets estimates

* Co breaks even on adj per-share basis, meets est

* Q4 rev down 17 pct but beats Street

* Remains cautious about immediacy of broad market upturn

Feb 25 (BestGrowthStock) – Drilling contractor Parker Drilling Co
(PKD.N: ) broke even on an adjusted per-share basis, meeting
analysts’ expectations, helped by lower operating costs at its
international drilling segment.

“Though we are encouraged by the recent direction of
activity in some of our markets, we remain cautious about the
immediacy of a broad upturn and the near-term impact on our
financial performance,” Chief Executive David Mannon said in a
statement.

For the latest fourth quarter, net loss was $4.3 million,
or 4 cents a share, compared with loss of $40.2 million, or 36
cents a share, last year.

Excluding items, the company broke even on a per-share
basis.

Total revenue for the quarter fell 17 percent to $175.8
million.

Analysts, on average, were expecting revenue of $173.6
million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $5.19 Wednesday on the New
York Stock Exchange.

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(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-Parker Drilling breaks even in Q4, meets estimates