Helmerich & Payne, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter of 2015; Provides Capital Expenditure and Income Tax Guidance for the Year 2015
January 29, 2015 at 04:30 pm IST
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Helmerich & Payne, Inc. reported unaudited consolidated earnings results for the first quarter of 2015. The company reported net income of $203 million or $1.85 per diluted share from operating revenues of $1.06 billion for the first fiscal quarter of 2015, compared to net income of $173 million or $1.59 per diluted share from operating revenues of $889 million during the first quarter of fiscal 2014, and net income of $169 million or $1.53 per diluted share from operating revenues of $985 million during the fourth quarter of fiscal 2014. Included in net income per diluted share corresponding to 2015 first fiscal quarter are approximately $0.13 of after-tax gains from long-term contract early termination compensation from customers, and $0.02 of after-tax gains related to the sale of used drilling equipment. Included in net income per diluted share corresponding to last year's first and fourth fiscal quarters are $0.03 and $0.05 of after-tax gains related to the sale of used drilling equipment, respectively. Net cash provided by operating activities were $389.692 million compared to $304.858 million a year ago. Capital expenditures were $369.029 million compared to $140.643 million a year ago.
The company now expects a total of approximately $1.3 billion in capital expenditures during all of fiscal 2015. The company expects an effective income tax rate of approximately 35% to 36% for each of the remaining three quarters of fiscal 2015.
Helmerich & Payne, Inc., through its subsidiaries, designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. The Company also develops and implements advanced automation, directional drilling and survey management technologies. Its segments include North America Solutions, Offshore Gulf of Mexico and International Solutions. The North America Solutions segment has operations which are located in Texas and other states, including Colorado, Louisiana and New Mexico. The Offshore Gulf of Mexico segment has operations that are located in Louisiana and in United States federal waters in the Gulf of Mexico. The International Solutions segment has rigs and/or services located in five international locations: Argentina, Bahrain, Colombia, the United Arab Emirates and Australia. The Company's fleet includes approximately 233 land rigs in the United States, 22 international land rigs and seven offshore platform rigs.
Helmerich & Payne, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter of 2015; Provides Capital Expenditure and Income Tax Guidance for the Year 2015
HELMERICH & PAYNE, INC. 
