EXHIBIT 99.1
2012 Unaudited Recast Segment Information by Quarter and Full Year
The table below presents reportable segment results as recast (unaudited, in thousands):
| | Summary of Operations (in thousands) | |
| | For the Three Months Ended | | For the Year Ended | |
| | March 31, 2012 | | June 30, 2012 | | September 30, 2012 | | December 31, 2012 | | December 31, 2012 | |
Third Party Revenues: | | | | | | | | | | | |
Technical Services | | $ | 221,637 | | $ | 243,321 | | $ | 247,355 | | $ | 245,451 | | $ | 957,764 | |
Industrial and Field Services | | 202,779 | | 202,618 | | 203,371 | | 219,351 | | 828,119 | |
Oil and Gas Field Services | | 146,905 | | 76,849 | | 82,812 | | 93,983 | | 400,549 | |
Corporate Items | | 701 | | 330 | | 268 | | 177 | | 1,476 | |
Total | | $ | 572,022 | | $ | 523,118 | | $ | 533,806 | | $ | 558,962 | | $ | 2,187,908 | |
| | | | | | | | | | | |
Direct Revenues: | | | | | | | | | | | |
Technical Services | | $ | 231,196 | | $ | 252,186 | | $ | 254,971 | | $ | 253,343 | | $ | 991,696 | |
Industrial and Field Services | | 191,570 | | 191,406 | | 194,594 | | 209,683 | | 787,253 | |
Oil and Gas Field Services | | 148,828 | | 79,718 | | 84,640 | | 96,167 | | 409,353 | |
Corporate Items | | 428 | | (192 | ) | (399 | ) | (231 | ) | (394 | ) |
Total | | 572,022 | | 523,118 | | 533,806 | | 558,962 | | 2,187,908 | |
| | | | | | | | | | | |
Cost of Revenues (exclusive of items shown separately) (1): | | | | | | | | | | | |
Technical Services | | 156,412 | | 163,706 | | 169,484 | | 170,387 | | 659,989 | |
Industrial and Field Services | | 142,566 | | 136,341 | | 138,105 | | 152,253 | | 569,265 | |
Oil and Gas Field Services | | 99,669 | | 64,254 | | 63,725 | | 74,051 | | 301,699 | |
Corporate Items | | 1,668 | | 3,322 | | 1,626 | | 3,052 | | 9,668 | |
Total | | 400,315 | | 367,623 | | 372,940 | | 399,743 | | 1,540,621 | |
| | | | | | | | | | | |
Selling, General and Administrative Expenses: | | | | | | | | | | | |
Technical Services | | 22,873 | | 19,959 | | 17,246 | | 21,800 | | 81,878 | |
Industrial and Field Services | | 14,926 | | 14,507 | | 13,211 | | 16,413 | | 59,057 | |
Oil and Gas Field Services | | 8,963 | | 7,493 | | 6,783 | | 7,367 | | 30,606 | |
Corporate Items | | 23,997 | | 24,835 | | 23,099 | | 30,048 | | 101,979 | |
Total | | 70,759 | | 66,794 | | 60,339 | | 75,628 | | 273,520 | |
| | | | | | | | | | | |
Adjusted EBITDA (2): | | | | | | | | | | | |
Technical Services | | 51,911 | | 68,521 | | 68,241 | | 61,156 | | 249,829 | |
Industrial and Field Services | | 34,078 | | 40,558 | | 43,278 | | 41,017 | | 158,931 | |
Oil and Gas Field Services | | 40,196 | | 7,971 | | 14,132 | | 14,749 | | 77,048 | |
Corporate Items | | (25,237 | ) | (28,349 | ) | (25,124 | ) | (33,331 | ) | (112,041 | ) |
Total | | $ | 100,948 | | $ | 88,701 | | $ | 100,527 | | $ | 83,591 | | $ | 373,767 | |
(1) Items shown separately consist of (i) accretion of environmental liabilities and (ii) depreciation and amortization.
(2) The following is a reconciliation of net income to Adjusted EBITDA (unaudited, in thousands):
| | For the Three Months Ended | | For the Year Ended | |
| | March 31, 2012 | | June 30, 2012 | | September 30, 2012 | | December 31, 2012 | | December 31, 2012 | |
Net income | | $ | 32,015 | | $ | 23,426 | | $ | 12,359 | | $ | 61,874 | | $ | 129,674 | |
Accretion of environmental liabilities | | 2,416 | | 2,505 | | 2,488 | | 2,508 | | 9,917 | |
Depreciation and amortization | | 36,831 | | 38,663 | | 41,300 | | 44,852 | | 161,646 | |
Other expense | | 299 | | 75 | | 91 | | 337 | | 802 | |
Loss on early extinguishment of debt | | — | | — | | 26,385 | | — | | 26,385 | |
Interest expense, net | | 11,272 | | 10,968 | | 11,596 | | 13,451 | | 47,287 | |
Provision (benefit) for income taxes | | 18,115 | | 13,064 | | 6,308 | | (39,431 | ) | (1,944 | ) |
Adjusted EBITDA | | $ | 100,948 | | $ | 88,701 | | $ | 100,527 | | $ | 83,591 | | $ | 373,767 | |