FX Energy Inc. (NASDAQ:FXEN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
FX Energy Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.01 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Rose 6.79% to $9.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FX Energy Inc. reported adjusted EPS loss of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0.01. It beat the average revenue estimate of $9.41 million.
Quoting Management: “The estimated pre-tax discounted present value of our P50 reserves at the end of 2012 was $4.56 per share compared to last year’s $5.67,” said David Pierce, FX Energy’s CEO. “We are disappointed that this year’s number is lower than last year’s. We believe our increased drilling program and budget for 2013 and 2014, particularly in the Fences concession, should result in new discoveries to reestablish our long term track record of reserve growth.”
Key Stats (on next page)…