Printer Friendly

DI INDUSTRIES ANNOUNCES RESULTS OF OPERATIONS FOR YEAR ENDED MARCH 31, 1992

 DI INDUSTRIES ANNOUNCES RESULTS OF OPERATIONS
 FOR YEAR ENDED MARCH 31, 1992
 HOUSTON, June 30 /PRNewswire/ -- DI Industries, Inc., (AMEX: DRL) (the company) announced today the audited results of operations for the 12 months ended March 31, 1992. The company had previously released the unaudited year end results, and the audited results are unchanged.
 For the 12 months ended March 31, 1992, the company reported a net loss of $2,962,000 compared to a net income of $2,059,000 a year ago. Revenues increased 15.4 percent to $65,360,000 for the current 12 months compared to $56,618,000 for the previous 12 months. Positive cash flow was $621,000 for the current 12 months compared to $5,010,000 for the previous 12 months. The company reported a net loss per share of $0.08 for the current 12 months compared to a net income of $0.06 per share a year ago.
 Max M. Dillard, president, stated, "Torrential rains occurring in the last quarter in the southern states contributed to the 40-year low count in rig activity. During this same quarter, $1.5 million of the company's fiscal year loss of $2.9 million was incurred.
 During this past quarter, the company sent two of its drilling rigs to Argentina, following it being awarded a 24-well drilling project. The company also sold a refurbished drilling rig to the National Drilling Company of Abu Dhabi."
 Although the company does not report by months, Dillard noted that April losses were reduced and May recorded a profit. The next report will be for the June quarter.
 DI Industries, Inc., provides contract drilling and well workover services to firms in the oil and gas industry, commercial drilling, oil and gas exploration, and production and equipment repair and sales.
 DI INDUSTRIES, INC.
 Year Ended March 31,
 1992 1991
 Revenues $65,360,000 $56,618,000
 Net income (loss) $(2,962,000) $ 2,059,000
 Weighted average shares of common
 stock outstanding 38,009,000 36,689,000
 Net income (loss) per common share $ (0.08) $ 0.06
 -0- 6/30/92
 /CONTACT: David J. Cone, financial vice president of DI Industries, 713-874-0202/
 (DRL) CO: DI Industries, Inc. ST: Texas IN: OIL SU: ERN


PS -- NY035 -- 5088 06/30/92 10:24 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 30, 1992
Words:383
Previous Article:NATIONAL COMMUNITY BANKS ANNOUNCES PUBLIC OFFERING OF CONVERTIBLE PREFERRED STOCK
Next Article:ARDA STATEMENT OF OPPOSITION TO SB 1522 (LEONARD) IN CALIFORNIA; DRE SUBDIVISION PERMIT REQUIREMENTS LIMITED TO U.S. SUBDIVISIONS ONLY
Topics:


Related Articles
DI INDUSTRIES ANNOUNCES THIRD QUARTER RESULTS
DI INDUSTRIES ANNOUNCES AWARD OF INTERNATIONAL CONTRACT
SERVICE FRACTURING COMPANY REPORTS WELL SERVICING REVENUE
DI INDUSTRIES ANNOUNCES PRELIMINARY FINANCIAL RESULTS AND ARGENTINA START-UP ACTIVITY
DI INDUSTRIES ANNOUNCES A NET INCOME FOR ITS FIRST QUARTER
DI INDUSTRIES, INC. ANNOUNCES SECOND QUARTER RESULTS
DI INDUSTRIES, INC. ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR THE FISCAL YEAR ENDED MARCH 31, 1993
GLOBAL INDUSTRIES, LTD. HAS RECORD EARNINGS FOR FISCAL YEAR 1993
DI INDUSTRIES, INC. ANNOUNCES THE FORMATION OF MICHIGAN CONTRACT DRILLING VENTURE WITH DART ENERGY CORP.
DI INDUSTRIES, INC. ANNOUNCES AUDITED OPERATING RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 1995

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters