Q: Thoughts on the 1/4 and forecast ? Chart looks great. Thank you.
5i Research Answer:
EPS of $0.07 beat estimates of $0.065, and sales of $24.4M beat estimates of $19.87M. Sales declined for the quarter, It maintained low operating and transportation costs in the quarter, but for the six-month period ended June 30, sales and cash from operations grew year-over-year. invested $2.2M in capex for upcoming drilling activities, and generated strong free funds flow. It paid dividends and repurchased shares in the quarter. Management plans on continuing to monitor oil market volatility and adjust capital spending accordingly. We think these were decent results, and the company is focused on shareholder returns. We think this was a decent quarter.