ALICE, Texas, May 15, 2013 (GLOBE NEWSWIRE) -- Forbes Energy Services Ltd. (Nasdaq:FES) today announced financial and operating results for the three months ended March 31, 2013.
Consolidated revenues for the first quarter of 2013 were approximately $102 million, compared to $107 million for the fourth quarter of 2012.
Selected information for the quarter ended March 31, 2013:
- Gross profit from U.S. Operations increased to $24.0 million, or 23.6% of revenues in the first quarter of 2013, compared to $21.6 million, or 20.2% in the fourth quarter of 2012.
- GAAP net loss from U.S. Operations attributable to common shares was $2.8 million, or $0.13 per diluted share, for the first quarter of 2013, compared to net loss from U.S. Operations attributable to common shares of $4.6 million, or $0.22 per diluted share for the fourth quarter of 2012.
- Adjusted EBITDA from U.S. Operations* totaled $17.4 million in the first quarter of 2013, compared to $14.4 million in the fourth quarter of 2012.
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