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RPC, Inc. Announces Date for Second Quarter 2019 Financial Results and Conference Call

ATLANTA, July 1, 2019 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the second quarter ended June 30, 2019 on Wednesday, July 24, 2019 before the market opens.  In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Wednesday, July 24, 2019 at 9:00 a.m. Eastern Time.                                                   

RPCBlueLogo

Individuals wishing to participate in the conference call should dial (888) 882-4478 or (323) 794-2591 for international callers, and use conference ID number 7521690.  For interested individuals unable to join by telephone, the call also will be broadcast and archived for 90 days on the Company's investor website at www.rpc.net.   Interested parties are encouraged to click on the webcast link 10-15 minutes prior to the start of the conference call.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.  RPC's investor website can be found on the Internet at www.rpc.net.

For information about RPC, Inc. or this event, please contact:

Ben M. Palmer
Chief Financial Officer
(404) 321-2140
irdept@rpc.net

Jim Landers
Vice President, Corporate Finance
(404) 321-2162
jlanders@rpc.net

Cision View original content:http://www.prnewswire.com/news-releases/rpc-inc-announces-date-for-second-quarter-2019-financial-results-and-conference-call-300878895.html

SOURCE RPC, Inc.

Non-GAAP Financial Measures

RPC, Inc. uses the following non-GAAP financial measures:

  • Adjusted net loss;
  • Adjusted net income;
  • Adjusted loss per share;
  • Adjusted earnings per share;
  • Adjusted operating loss;
  • Adjusted operating profit
  • Earnings before interest, taxes, depreciation and amortization (EBITDA); and,
  • Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA)

Management believes that presenting these financial measures enable us to compare our operating performance consistently over various time periods without regard to non-recurring items. We are also required to use EBITDA to report compliance with financial covenants under our revolving credit facility.

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth below are reconciliations of these non-GAAP measures with their most comparable GAAP measures:

Reconciliation of Net (Loss) Income to Adjusted Net (Loss) Income
Net (Loss) Income
Add:
Discrete tax adjustment
Impairment and other charges, net of tax
Adjusted Net (Loss) Income

Reconciliation of Net (Loss) Income Per Share to Adjusted Net (Loss) Income Per Share
Net (Loss) Per Share
Add:
Total Impact of Discrete tax adjustment and Impairment and Other Charges
Adjusted Net (Loss) Income Per Share

Reconciliation of Operating (Loss) Profit to Adjusted Operating (Loss) Profit
Operating (loss) profit
Add: Impairment and other charges
Adjusted Operating (Loss) Profit

Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA
Net (Loss) Income
Add:
Income tax (benefit) provision
Interest expense
Depreciation and amortization
Less:
Interest income
EBITDA
Add:
Impairment and other charges
Adjusted EBITDA


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