This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frank’s International N.V. Announces Second Quarter 2014 Results

Frank’s International N.V. (NYSE: FI) (the “Company”) today reported revenues of $272.9 million and net income of $50.0 million for the three months ended June 30, 2014. Diluted earnings per share for the second quarter were $0.23, with weighted average shares outstanding of 207.8 million. Adjusted EBITDA for the quarter was $103.2 million.

Results for the quarter were reduced by an out-of-period cumulative non-cash adjustment for share-based compensation of $7.5 million. In addition, the in-period second quarter share-based compensation expense was $7.8 million instead of the previous expectation of $5.0 million. The out-of-period adjustment and increase in quarterly share-based compensation expense was due to the Company determining that certain retirement provisions in the restricted stock unit agreements under its 2013 Long-Term Incentive Plan required accelerated recognition of compensation expense in connection with the Company’s initial public offering. Total share-based compensation expense, which is accounted for within general and administrative expenses, for the quarter was $15.3 million or $0.07 per diluted share.

D. Keith Mosing, Frank’s International’s Chairman, Chief Executive Officer and President, said, “Frank’s International has doubled its quarterly dividend to $0.15 per share. Our tremendous free cash flow positions us to return cash to shareholders while continuing to pursue growth opportunities globally, both organically and through acquisition.”

Mr. Mosing continued, “We remain confident about our opportunities around the globe. Our International Services segment delivered 9% sequential revenue growth in the second quarter and is expected to grow revenue at least 10% this year. Our U.S. land business, which has previously been in decline, had 9% sequential revenue growth and is expected to grow sequentially the rest of the year. Lastly, we continue to be selected for work as we signed several meaningful contracts this quarter that further strengthen our pipeline of work for the remainder of 2014 and well into 2015 and 2016.”

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs