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Press Releases

 
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Feb 12, 2001
Cudd Pressure Control, Inc. Acquires Sooner Testing, Inc

Feb 09, 2001
RPC Inc. Announces Record Date for Spin-Off

Feb 01, 2001
Cudd Responds to Disaster in Downtown Hutchinson, Kansas

Jan 14, 2000
RPC, Inc. to Spin-Off Chaparral Boats to Shareholders; RPC to Become a Sole Provider of Services to the Oil and Gas Industry

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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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