Exhibit 99.1







Union Drilling, Inc.

Christopher D. Strong, CEO

Tina Castillo, CFO




Ken Dennard / Ben Burnham




FORT WORTH, TX – March 3, 2011 – Union Drilling, Inc. (NASDAQ: UDRL) announced today financial and operating results for the three and twelve month periods ended December 31, 2010.

Revenues for the fourth quarter of 2010 were $58.2 million compared to $40.6 million in the fourth quarter of 2009. The Company reported a net loss of $0.3 million for the quarter, or $0.01 per share, compared to a net loss of $2.9 million, or $0.12 per share, during the fourth quarter of 2009. Union Drilling’s 2009 fourth quarter results included a $1.1 million, or $0.04 per share, charge for the impairment of certain fixed assets.

EBITDA for the fourth quarter of 2010 totaled $12.4 million compared to $10.1 million reported in the same period last year. For additional information regarding EBITDA as a non-GAAP financial measure, please refer to the disclosures contained at the end of this release.

Christopher D. Strong, Union Drilling’s President and Chief Executive Officer, stated, “I’m pleased to report that the investment and asset deployment decisions we’ve made over the past year have resulted in a significant improvement to our operating results. I believe that oil prices will remain high enough to drive overall rig count growth even if gas directed activity moderates and that as horizontal oil drilling expands, the equipment and trained work force we have will continue to experience healthy demand. My outlook for 2011 is positive, since our higher dayrate long-term contracts are generally renewing at their existing rates and the rigs that we activated more recently are mostly renewing at higher rates.

“We lost some on-hire days in early 2011 due to weather and will experience normal seasonal impacts in the Northeast either late in the first quarter or early in the second quarter depending upon how the rest of winter plays out. Consistent with past practice, we will continue

The following information was filed by Union Drilling Inc (UDRL) on Thursday, March 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Union Drilling Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Union Drilling Inc.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account