Precision Drilling Q4 Loss Widens - Quick Facts

(RTTNews) - Precision Drilling Corp. (PDS, PD.TO) reported Thursday that its fourth-quarter net loss widened to C$198.33 million or C$0.68 per share from a net loss of C$47.01 million or C$0.16 per share in the prior-year quarter.

During the quarter, the company incurred goodwill impairment charges totaling C$208 million that, after-tax, reduced net earnings by C$199 million and net earnings per share by C$0.68. Excluding the impact of the goodwill impairment, net earnings would have been C$1 million or breakeven per share.

Revenue for the quarter was C$427.01 million, an increase of 23 percent over C$347.19 million in the prior year comparative quarter.