Higher Commodity Prices Boost Noble's Sales Revenue
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Higher commodity prices helped Noble Energy's (NBL Quote) net sales revenue for third-quarter fiscal 2008 grow 37.7% to $1.06 billion from $768.44 million a year ago. However, the company's gross profit margin declined 100 basis points to 79.02% from 80.02% despite higher revenue growth.
Net income rose to $974.00 million or $5.37 per share from $222.68 million or $1.28 per share as the latest quarter recorded a $637.00 million gain. Adjusted net income for the quarter stood at $395.00 million or $2.08 per share. ...
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