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NBR > SEC Filings for NBR > Form 8-K on 24-Jul-2013All Recent SEC Filings

Show all filings for NABORS INDUSTRIES LTD

Form 8-K for NABORS INDUSTRIES LTD


24-Jul-2013

Results of Operations and Financial Condition, Other Events, Financial Stat


Item 2.02 Results of Operations and Financial Condition.

On July 23, 2013, we issued a press release announcing our results of operations for the three- and six-month periods ending June 30, 2013. A copy of that release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to risks and uncertainties, as disclosed from time to time in our filings with the Securities and Exchange Commission. As a result of these factors, our actual results may differ materially from those indicated or implied by such forward-looking statements.

We also presented in the press release "non-GAAP" financial measures under Regulation G. We presented our adjusted EBITDA from continuing operations and adjusted income (loss) derived from operating activities for all periods presented in the release. The components of these non-GAAP measures are computed by using amounts determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Adjusted EBITDA from continuing operations is computed by subtracting the sum of direct costs, general and administrative expenses, and earnings (losses) from our former U.S. oil and gas joint venture from the sum of Operating revenues and Earnings (losses) from unconsolidated affiliates. Adjusted income (loss) derived from operating activities is computed similarly, but also subtracts depreciation and amortization expenses from the sum of Operating revenues and Earnings (losses) from unconsolidated affiliates. As part of the press release information, we have provided a reconciliation of adjusted EBITDA and adjusted income (loss) derived from operating activities to income (loss) from continuing operations before income taxes, which is its nearest comparable GAAP financial measure.

We included our adjusted EBITDA and adjusted income (loss) derived from operating activities in the release because management evaluates the performance of our business units and the consolidated company based on several criteria, including adjusted income (loss) derived from operating activities, and because we believe these financial measures are an accurate reflection of our ongoing profitability.



Item 8.01. Other Events.

On July 24, 2013, we will present certain information in connection with our call with shareholders, analysts and others relating to our results of operations discussed above. Attached hereto as Exhibit 99.2 are slides that will be presented at that time.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.       Description

99.1          Press Release
99.2          Investor Information


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