FX Energy Earnings: Here’s Why Investors are Ambivalent Now
FX Energy Inc. (NASDAQ:FXEN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
FX Energy Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.22 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 10.49% to $9.48 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FX Energy Inc. reported adjusted EPS loss of $0.22 per share. By that measure, the company missed the mean analyst estimate of $0. It missed the average revenue estimate of $9.71 million.
Quoting Management: Clay Newton, FX’s Vice President Finance, remarked: “The Company expects production to begin at its Lisewo-1 and Komorze-3K wells during the second half of 2013. Just as production from new wells and facilities in Poland has boosted recent results, we expect Lisewo-1 and Komorze-3K will provide similar benefits in the second half of this year.”
Key Stats (on next page)…