where's the bad news???
Helmerich & Payne, Inc. Announces Third Quarter Results and Additional New Build Contracts
GlobeNewswire
Helmerich & Payne, Incorporated
3 hours ago
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TULSA, Okla., July 31, 2014 (GLOBE NEWSWIRE) -- Helmerich & Payne, Inc. (HP) reported net income of $192.3 million ($1.75 per diluted share) from operating revenues of $952.1 million for the third quarter of fiscal 2014, compared to net income of $266.2 million ($2.46 per diluted share) from operating revenues of $840.2 million during the third fiscal quarter of 2013, and net income of $174.6 million ($1.59 per diluted share) from operating revenues of $893.4 million during the second fiscal quarter of 2014. Included in net income corresponding to this year's third fiscal quarter are approximately $0.13 per diluted share of after-tax gains on the sale of investment securities and approximately $0.01 per diluted share of after-tax gains related to the sale of used drilling equipment. Included in net income corresponding to last year's third fiscal quarter are approximately $0.86 per diluted share of after-tax gains on the sale of investment securities, approximately $0.02 per diluted share of after-tax gains related to the sale of used drilling equipment, and approximately $0.14 per diluted share of after-tax gains on income from discontinued operations. Included in net income corresponding to this year's second fiscal quarter are approximately $0.12 per diluted share of after-tax gains on the sale of investment securities and approximately $0.02 per diluted share of after-tax gains related to the sale of used drilling equipment.
President and CEO John Lindsay commented, "The Company achieved record levels of quarterly revenue, operating income and rig activity after activating 11 new FlexRigs(R)* during the quarter. We continue to see a strong U.S. land drilling market and expect to benefit from increasing activity, recovering spot pricing levels, and additional customer commitments for new FlexRigs. Since our most recent announcement last month, we have entered into agreements with six exploration and production companies to build and operate 13 additional FlexRigs to drill unconventional resource plays in the U.S. All of these rigs were ordered under multi-year term contracts and are expected to generate attractive economic returns for the Company. The new contracts bring the total number of new build commitments announced in fiscal 2014 to 74 FlexRigs, including 30 since the Company's last quarterly earnings release. As we continue to build on our competitive advantages, our focus will remain on creating value for our shareholders through our efforts to deliver safer, more reliable and efficient operations for our customers."
complete PR here
http://finance.yahoo.com/news/helmerich ... 00516.html
HP getting hit down >5%
Re: HP getting hit down >5%
pten and unt down in sympathy??