During Tuesday’s current trade, PostRock Energy Corporation (NASDAQ:PSTR)’s shares gained 23.08%, and is now trading at $2.24, as on March 30, PostRock Energy, declared its results for the year ended December 31, 2014.
Highlights:
- Based on a 21:1 oil-to-gas economic equivalency, production raised over 2% from the preceding year; at the traditional 6:1 oil-to-gas energy equivalency, production declined 5%.
- Proceed totaled $83.5 million, up 16% from the preceding year.
- Total operating expenses, counting lease operating, gathering, production taxes and general and administrative expenses, reduced $1.3 million from the preceding year.
- Bank debt reduced 10% to $83 million.
- Cost reduction initiatives implemented subsequent to year-end are predictable to further reduce costs by nearly $4.0 million annually.
- The 2015 capital budget is set at $5.4 million, a reduction of over 85% from the preceding year.
- The Corporation has engaged Evercore Group L.L.C. to assist the Board in evaluating planned alternatives.
2014 Results:
Proceed raised 16% from the preceding year to $83.5 million. Despite lower sales volumes, gas proceed raised 9% to $56.3 million. The raise was driven by a 20% raise in realized prices to $4.25 per Mcf. Oil proceed raised 35% to $24.5 million, as production raised 43%. The production raise was partially offset by a 6% lower realized price of $89.23 per barrel. Gas gathering proceed raised 3% to $2.7 million, as higher gas prices offset lower volumes.
Net revenue for the year, was $3.9 million, contrast to a $23.4 million loss in the preceding-year period. Not including mark-to-market gains and losses on our derivatives and equity investments, we had a loss of $18.3 million in 2014 contrast to a loss of $31.8 million in the preceding-year period.
PostRock Energy Corporation, an independent oil and gas corporation, engages in the attainment, exploration, development, production, and gathering of crude oil and natural gas.
Hooker Furniture Corp. (NASDAQ:HOFT)’s shares jumped 15.04% during the current trading session Tuesday, and is now trading at $21.52, after Hooker Furniture, today stated merged net sales of $244.4 million and net revenue of $12.6 million, or $1.16 per diluted share, for its fifty-two week fiscal year ended February 1, 2015.
Sales raised by $16.1 million, or 7% for fiscal 2015 contrast to the preceding year. Annual net revenue raised 58.7%, or $4.7 million. Earnings per share raised to $1.16 per diluted share contrast to $0.74 for last year. The rise in net revenue was driven by operating profitability improvements in all segments.
For the fiscal 2015 fourth quarter, merged net sales raised 12.7% to $64.9 million, contrast to $57.6 million for last year’s fourth quarter. Merged net revenue for the fiscal 2015 fourth quarter raised $2.3 million to $4.3 million, or $0.40 per diluted share due to higher net sales in all segments, reduced discounting in the casegoods segment and lower upholstery manufacturing costs.
After reporting the highest quarterly net sales in six years for the third quarter, “Momentum continued to build, resulting in an outstanding fourth quarter that surpassed expectations and made for a great year,” said Paul B. Toms Jr., chairman and chief executive officer.
Gross profit raised in the fiscal 2015 annual period, in both absolute terms and as a percentage of net sales, due to raised net sales in all operating segments, lower discounting in the casegoods segment and reduced manufacturing costs in the upholstery segment.
While sales in the upholstery segment raised at a somewhat lower rate than casegoods, Sam Moore Furniture and Bradington-Young stated single-digit proceed gains, as Sam Moore significantly improved service, reducing delivery times to 4 to 6 weeks during the second half of the year.
Hooker Furniture will present its fiscal 2015 annual and fourth quarter results via teleconference and live internet web cast on Tuesday afternoon, April 7, 2015, at 2:00 PM Eastern Time.
Hooker Furniture Corporation, a home furnishings marketing, design, and logistics corporation, together with its auxiliaries, designs, imports, manufactures, and markets residential household furniture products principally in North America.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
