Golden Star Turns Profitable (EXXI, FTK, GMXR, GSS, GXP)
GMX Resources Inc. (NYSE:GMXR) reported a net loss of $106.1 million, ($1.52 per basic and fully diluted share), and $146.7 million, ($2.23 per basic and fully diluted share), for the three and six months ended June 30, 2012, respectively, as compared to a net loss of $15.4 million ($0.28 per basic and fully diluted share) and $69.8 million ($1.43 per basic and fully diluted share) for the same period last year.
Additionally, the company’s 2012 capital expenditure plan is estimated to be approximately $100 million (including capitalized interest expense and G&A), which will fund the Bakken oil focused drilling and development plans. As of June 30, 2012, the company have made $51.6 million of these planned capital expenditures.
Great Plains Energy Incorporated (NYSE:GXP) reported a second quarter profit of $58.1 million, up from $43.4 million a year earlier. On a per-share basis, earnings rose to $0.41 a share from $0.31 per share. Analysts had predicted per-share earnings of $0.36. Operating revenue increased 6.8% to $603.6 million, while operating expenses edged up 0.9%.
Energy XXI (Bermuda) Limited (NASDAQ:EXXI) stock gained 2.71% to $33 in the after hour trading. On August 7, 2012, the company announced its Board of Directors declared a $1.8125 per share quarterly dividend on its shares of 7.25% Convertible Perpetual Preferred Stock, which have a face value of $100 per share, and a $3.5156 per share quarterly dividend on its shares of 5.625% Convertible Perpetual Preferred Stock, which have a face value of $250 per share.
Flotek Industries Inc (NYSE:FTK) shares climbed 2.31% to $10.64 in the after hour trading after the company posted second quarter net income of $13.2 million, or $0.25 per common share (fully diluted), as compared to a net income of $2.1 million, or $0.04 per common share (fully diluted) for the same period in 2011. Revenue for the three months ended June 30, 2012 was $78.3 million, an increase of $22.4 million, or 40.0%, as compared to $55.9 million for the same period last year.
Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) reported second quarter net income of $2.5 million or $0.01 per share, as compared to net loss of $5.0 million or $0.02 per share in the same quarter last year. Revenues increased 24% to $136.3 million from $109.8 million in the same period last year. Gold sales for the quarter grew 17% to 85,183 ounces from 72,540 ounces in the prior year. Analysts expected earnings of $0.04 per share for the quarter.