Parker Drilling Reports Third Quarter EPS of $.01

Parker Drilling PKD today reported results for the 2010 third quarter and nine-month year-to-date periods ended September 30, 2010. The Company's results for the third quarter included net income of $0.5 million or $0.00 per diluted share on revenues of $172.0 million, compared with net income of $7.1 million or $0.06 per diluted share on revenues of $181.4 million for the 2009 third quarter. Excluding the effects of non-routine items the Company reported net income of $1.2 million or $0.01 per diluted share compared with similarly adjusted 2009 third quarter net income of $4.4 million or $0.04 per diluted share. Adjusted EBITDA, excluding non-routine items, was $36.4 million, compared with $38.1 million for the prior year's third quarter.