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RPC's CEO Discusses Q1 2012 Results - Earnings Call Transcript

RPC Inc. (RES)

Q1 2012 Earnings Call

April 25, 2012; 09:00 am ET

Executives



Rick Hubbell - President & Chief Executive Officer

Ben Palmer - Chief Financial Officer

Jim Landers - Vice President of Corporate Finance



Analysts

John Daniel - Simmons & Company

Doug Garber - Dahlman Rose

Neal Dingmann - Suntrust

Andrea Sharkey - Gabelli & Company

Jeff Tillery - Tudor Pickering Holt

Megan Repine - FBR Capital Markets

Michael Marino - Stevens Inc.

Tom Escott - Pritchard Capital

Patrick Schindler - IBERIA Capital Partners

Jeff Spittel - Global Hunter Securities

John Wengraf - Courage Capital Management

Ben Swomley - Morgan Stanley



Presentation

Operator

Good morning and thank you for joining us for the RPC Incorporated, first quarter 2012 earnings conference call.

Today’s call will be hosted by Rick Hubbell, President and CEO; and Ben Palmer, Chief Financial Officer. Also present is Jim Landers, Vice President of Corporate Finance. (Operator Instructions)

Jim will get us started by reading the forward-looking disclaimer.

Jim Landers

Thank you and good morning. Before we begin our call today, I want to remind you that in order to talk about our company, we are going to mention a few things that are not historical facts. Some of the statements that will be made on this call could be forward-looking in nature and reflect a number of known and unknown risks. I’d like to refer you to our press release issued today along with our 2011 10-K and other public filings that outline those risks, all of which can be found on RPC’s website at www.rpc.net.

In today’s earnings release and conference call we will be referring to EBITDA, which is a non-GAAP measure of operating performance. RPC uses EBITDA as a measure of operating performance, because it allows us to compare performance consistently over various periods without regard to changes in our capital structure. We are also required to use EBITDA to report compliance of financial covenants under our revolving credit facilities.

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