Pacific Drilling S.A. today announced net income for fourth-quarter 2014 of $68.0 million or $0.32 per diluted share, compared to net income for third-quarter 2014 of $48.1 million or $0.22 per diluted share. Net income for fourth-quarter 2013 was $25.7 million or $0.12 per diluted share, the company said in its press release.
For the year ended Dec. 31, 2014, net income was $188.3 million or $0.87 per diluted share, an increase of $96.1 million over the prior-year net income excluding charges(d). A reconciliation of net income excluding charges to reported net income is included in an accompanying schedule to this release.
EBITDA(a) for the fourth quarter of $179.1 million, representing an EBITDA margin(b) of 56.0 percent, and EBITDA for the full year of $563.3 million, an increase of 57.3 percent over the prior year's adjusted EBITDA(a)
Revenue efficiency(c) of 96.7 percent for the fourth quarter yielded revenue of $319.7 million, a 59 percent increase over the prior year’s fourth-quarter revenue
Cash flow from operations for the full year of $396.4 million, an increase of 72 percent over the prior year
4.2 million shares repurchased to date pursuant to share repurchase program