ALICE, Texas, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Forbes Energy Services Ltd. (Nasdaq:FES) today announced financial and operating results for the three months ended September 30, 2013.
The Company reported consolidated revenues of $104.9 million for the third quarter of 2013, compared to $103.7 million for the second quarter of 2013.
Selected financial information from continuing operations for the quarter ended September 30, 2013:
- Gross profit decreased to $19.8 million, or 18.9% of revenues, in the third quarter of 2013, compared to $26.7 million, or 25.8%, in the second quarter of 2013.
- GAAP net loss attributable to common shares was $5.7 million, or $0.27 per diluted share, for the third quarter of 2013, compared to net loss attributable to common shares of $0.7 million, or $0.04 per diluted share for the second quarter of 2013.
- Adjusted EBITDA from U.S. Operations* totaled $13.0 million in the third quarter of 2013 as compared to $20.0 million in the second quarter of 2013.
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