Abraxas Petroleum Corporation (NASDAQ:AXAS) today provided corrected fourth quarter 2011 adjusted net income financial information.
Earlier today, the Company announced its fourth quarter and full year 2011 results and subsequently found an error in the fourth quarter 2011 adjusted net income calculation.
The following table reflects the corrected adjusted net income, excluding certain non-cash items, for the three months ended December 31, 2011:
|(In thousands)||Three Months Ended December 31,|
|Loss on unrealized derivative contracts||5,955|
|Adjusted net income, excluding certain non-cash items||$||695|
|Net loss per share – basic||(0.06||)|
|Adjusted net income, excluding certain non-cash items, per share – basic||$||0.01|
Adjusted net income, excluding certain non-cash items, for the period presented excludes the unrealized losses on derivative contracts of $6.0 million.
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