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Synergy Resources Corporation Message Board

  • adspatz adspatz Jan 7, 2014 11:18 AM Flag

    Synergy Resources earnings increase

    Search for "SEC Live Filings Digest" to find out more.
    Synergy Resources Corporation (SYRG) has announced its financial results for the first quarter of fiscal year 2014, reporting earnings that increased from a year ago. The oil and gas exploration and production company reported a dramatic 132% jump in revenue from $8.3M a year ago to $19.3M this quarter. This significant increase is attributed primarily to a 93% production increase from new wells being brought online. Earnings for the quarter were $6.1M and $0.08 per share, up from $2.2M and $0.04 per share a year ago. Synergy Resources met analyst expectations of $0.08 earnings per share while the company’s revenue missed analyst predictions of $20.9M. The Colorado-based company is expecting capital expenditures in 2014 of $189M, which is being focused on horizontal drilling efforts.

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