Glenn M. DardenThank you, John. Good morning. Quicksilver Resources reported net income for the third quarter of 2011 of $29 million or $0.17 per diluted share compared to net income of $22 million or $0.13 per diluted share in the prior period. Third quarter 2011 adjusted net income was $6 million or $0.03 per diluted share. Financial results for the current quarter were impacted by noncash gain of $30 million related to mark-to-market impact of long-term derivatives, a noncash gain of $12 million associated with the company's equity interest in BreitBurn Energy Partners' second quarter 2011 derivative adjustments, a gain of $10 million from the sale of BreitBurn units and a loss of $15 million for the acceleration of unamortized debt insurance costs, professional services in connection with strategic transactions, and to settle pending claims associated with the previously disclosed legal litigation. We've made progress on several fronts on the operational and transaction projects, and our investments are beginning to bear fruit.
Quicksilver Resources' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.