Union Drilling, Inc. Q2 2010 Earnings Call Transcript

Also, statements made on this conference call that are not historical facts, including the statements accompanied by the words such as may, believe, anticipate, expect, estimate or similar words are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding Union Drilling's plans and performance.

These statements are based on management's estimates, assumptions and projections as of the date of this call and they are not guarantees of future performance. Actual results may differ materially from results expressed or implied in these statements, as a result of risks, uncertainties and other factors, included but not limited to the factors set forth in the company's prior filings with the Securities and Exchange Commission.

Union Drilling cautions you not to place undue reliance on forward-looking statements contained in this call. Union Drilling does not undertake any obligation to publicly advise or revise any forward-looking statements to reflect future events, information or circumstances that may arise after the date of this call. For further information, please refer to the company's filings with the SEC.

During today's call, management will discuss EBITDA and drilling margin, which are non-GAAP financial measures. Please refer to yesterday's release, which can be found on the company's website, for disclosures about these measures and for reconciliation to the most directly comparable GAAP financial measures.

Now, that we have that out of the way, let me this morning introduce and pass the call to Chris Strong, President and Chief Executive Officer; and Tina Castillo, Union Drilling’s new CFO.

Now I would like to turn the call to Chris.

Chris Strong

Thanks Ken. Good morning everyone and thank you for joining us today. As you saw on yesterday’s press release, our results for the second quarter of 2010 included revenues of $43.7 million, EBITDA of $3.6 million and a net loss of $5.3 million or $0.23 per share.

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