Archer Limited : First Quarter 2013 Results
Hamilton, Bermuda (May 30, 2013) First Quarter Highlights · First quarter revenue of $514.5 million. · First quarter EBITDA of $39.7 million. · Net loss for the quarter of $37.0 million. · First quarter operational cash outflow of $25.8 million. · Raised $250.0 million from the issuance of 208.3 million new shares in a private placement · Net interest bearing debt at the end of the first quarter 2013 at $982.5 million. · Announced the sale of North American Rental and Tubular business for $244 million. In connection with the earnings release, a