| Income Statement for Union Drilling Inc. (UDRL) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Operating Revenue | 289,035 | 256,944 | 141,621 | 67,832 | | Adjustments to Revenue | - | - | - | - | | Cost of Revenue | (170,903) | (154,670) | (102,266) | (50,084) | | Gross Operating Profit | 118,132 | 102,274 | 39,355 | 17,749 | | | Selling/General/Admin Expense | (24,775) | (21,514) | (13,020) | (7,447) | | Research & Development | - | - | - | - | | EBITDA | 93,357 | 80,760 | 26,335 | 10,302 | | Depreciation & Amortization | (40,066) | (25,273) | (15,121) | (8,103) | | EBIT | 53,291 | 55,487 | 11,214 | 2,198 | | Interest Income | - | - | - | - | | Other Income, Net | 1,385 | 310 | 851 | 2,374 | | Total Income Avail For Interest Expense | 54,676 | 54,797 | 12,065 | 4,572 | | Interest Expense | (1,824) | (527) | (2,367) | (629) | | Pre-Tax Income | 52,852 | 54,270 | 9,699 | 3,943 | | Income Taxes | (22,020) | (22,418) | (4,100) | (416) | | Minority Interest | - | - | - | - | | Net Income from Continuing Operations | 30,832 | 31,852 | 5,599 | 3,527 | | Net Income from Discontinued Operations | - | - | - | - | | Net Income from Total Operations | 30,832 | 31,852 | 5,599 | 3,527 | | | Normalized Income | 30,832 | 32,852 | 5,599 | 3,527 | | Extraordinary Income | - | - | - | - | | Special Income/Charges | - | (1,000) | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | | Other Gains | - | - | - | - | | Total Net Income | 30,832 | 31,852 | 5,599 | 3,527 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | | | Basic EPS from Continuing Operations | 1.41 | 1.50 | 0.35 | 0.27 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | 1.41 | 1.50 | 0.35 | 0.27 | | | Diluted EPS from Continuing Operations | 1.41 | 1.47 | 0.34 | 0.26 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | 1.41 | 1.47 | 0.34 | 0.26 | | | |
