Isramco Posts 4Q Profit On Oil, Gas Sales
HOUSTON (AP) ¿ Oil and gas company Isramco Inc. said Monday it posted a fourth-quarter profit compared with a loss in the year-ago period.
Houston-based Isramco reported net income for the the three months ended Dec. 31 of nearly $8.6 million, or $3.15 per share. That compared with a loss of nearly $5.2 million, or $1.91 per share, in the previous year's fourth quarter.
Revenue rose 9 percent to $7.7 million from almost $7.1 million.
For the full year, Isramco's profit was $3.2 million, or $1.19 per share, compared with a full-year loss of $6.4 million, or $2.36 per share, in 2007. Revenue from oil and gas sales more than doubled to nearly $52.2 million from nearly $22.8 million in 2007.A company news release did not comment on Isramco's fourth-quarter results. But the release said its 2008 profit rose primarily because of newly acquired oil and gas properties, as well as higher oil and gas prices and gains on derivative contracts. Shares of Isramco fell $1.34, or about 3.2 percent, to $40.50 in midday trading Monday.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV