HOUSTON (AP) — Independent Contract Drilling Inc. (ICD) on Wednesday reported a loss of $43.1 million in its fourth quarter.
The Houston-based company said it had a loss of $7.02 per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to $2.65 per share.
The provider of drilling services for oil and natural gas producers posted revenue of $13.3 million in the period.
For the year, the company reported that its loss widened to $96.6 million, or $19.69 per share. Revenue was reported as $83.4 million.
Independent Contract Drilling shares have more than doubled since the beginning of the year. The stock has dropped 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ICD at https://www.zacks.com/ap/ICD
