SAN ANTONIO (AP) _ Abraxas Petroleum Corp. (AXAS) on Tuesday reported a loss of $4.1 million in its fourth quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 2 cents. Earnings, adjusted for non-recurring costs, came to 4 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.
The energy company posted revenue of $29.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $29.7 million.
For the year, the company reported net income of $16 million, or 10 cents per share, swinging to a profit in the period. Revenue was reported as $86.3 million.
In the final minutes of trading on Tuesday, the company's shares hit $2.36. A year ago, they were trading at $1.65.