Parker Drilling Announces Earnings Guidance

Parker Drilling Company (NYSE: PKD) confirmed its previous guidance of a net loss per share of $0.05 to $0.10 for the fourth quarter of 2004. Most, if not all of the loss, is attributable to non-routine charges relating to asset dispositions and write downs. The Company is positioned to show improved results for 2005 and expects earnings to be in line with First Call 2005 estimates of net income per share of $0.05 to $0.14.