When is the company golf tournament????
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United we stand @still standing. Joe Blow
From the proxy , NR meet none of its financial goals for last 2 years based on the Threshold-Target-Maximum Plan in place for Bonuses except for achieving 37% of Target in Small Evolution section for B Smith. NR had apprx $88M of cash on hand at the end of 2016 of which $44M is overseas where they plan to permanently keep it invested as per proxy. Looks to me like they plan to pay the apprx $83M owed on the Senior notes due apprx 10-2017 on or before 6-30-2017 so they can roll into the NEWLY established Asset base credit facility which starts apprx at the end of the second Q, 2017. As of January 2017 they had $76M estimated of credit availability under this Revolver which fluctuates based on the level of Eligible accounts receivable, inventory, and other financial covenants. In the second Q of 2017 they are expecting a $38M cash refund on taxes for the carryback of TAX LOSSES incurred in 2016. (What a way to get money !) . Does not take a rocket scientist to figure they are going to be DEEP into the credit line by the end of Summer after they pay down the SENIOR notes of $83M and MUCH shorter on cash on hand than before. They are going to have replace Inventory soon with any uptick in Activity and they can't keep moving it around between warehouses forever. Bad debt up from $1.2M in 2015 to $2.4M in 2016. Where would they be without the $38M tax refund? Nothing left to sell off unless they go to MATS which is probably their only way to make any DECENT ROI as it stands presently. Already went thru the $100M from Enviromental Sale. Still have 2 big offices to support. The beat (squirming ) goes on. Party on.
Here we go !!( hater) in the house . KATY
Losers still losing $$$$ daily. NDF folks don't know Sh-- from Shinola about margins. Remember the song: Are the good times really over for good?? It might be the new NP motto
Don't know him, We will see if NP will be still standing. Joe Blow
"Oh well, we will see" Now that is a fact filled thought provoking reply. Are you related to katy
OH well ,we will see.Joe Blow
Well 3 more days to earnings date. My guess is a loss of $2.5-4.0M for the 1st Q of 2017. Time will tell. Notice that the top executives have had their 10% pay cuts restored effective 4-1-2017. And 401K contributions start back in third quarter? All of this while they lost $90M in 2015 and $40M in 2016. Good job to have when reporting 7 straight quarters of losing money with another probably on the way in 3 days. BUT, not to worry sport's fans Howes still got a 6 figures bonus in for 2015 which was doubled in 2016. And least we forget, how about the $1.8M of Stock awarded him in 2015 and the $1.6M of Stock awarded him in 2016. STOCK people, not Stock Options. I'm NOT even counting the Stock Options of which there was plenty. AND, ALSO ,least we forget , Remember there is the 2015 Stock Plan that authorized 6,000,00 shares for grants. This figure was Raised to 7,800,000 shares in 2016 and now on the 2017 Proxy they want to RAISE it to 9,800,000 shares for 2017. Amazing, there is just never enough stock is there. Forget the Dilution factor. The best part of the proxy Statement is where they go on and on about How they need to give these top guys ALL of these Extra inducements so they will stay employed at NR and not consider other job offers. WHAT job offers i ask? WFC is asking what the Board of Directors were doing during their fiasco? Hello?
Q1 Earnings not announced until Thursday 27th Igmoe
What were the number's on Q1?
Will do, Hope not . Joe Blow
Q1 not good. Margins still in the tank. Wait and see
Hey Katy what's going on over on Mason RD Q1 got U quiet. What's your problem?
What U think (Joe Blow)
I'm going to say 1.5 to 2m you are way off. Matt's not doing bad look like a + for Matt's we'll see. Joe Blow
Joe: how bad will q1 be? I bet close to $5m loss in fluids. What say you?
Wow rigs (oil) up to 683 looking good. Joe Blow
We are going big. JOE Blow
I fine that hard to believe and NP still in business. More Rigs have came on line where U getting your number from. KATY
What's another 300k on top of the $125m already lost? Go big or go home
Here we go again, stop hating and get on board. LETS REPAIR THIS SHIP (NP) SO WE CAN MOVE ON. OK
😑😑😑 it's coming.