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Quicksilver Resources Inc. Message Board

  • besmarter8 besmarter8 Mar 15, 2013 8:02 PM Flag

    $199 million positive

    In total, the estimated aggregate impact to 2012 income (loss) before income taxes was to improve that amount by $199 million and to reduce the income tax benefit by $66 million, which

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    yield an overall increase to net income of $133 million. None of these matters impact the previously reported totals for cash flows from operating activities, investing activities or financing activities. None of the matters impact compliance with the financial covenants associated with our senior secured credit facility.

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    • Nothing new we didn't already know from reading their financials. It is simply a classification issue. They thought they qualified to classify as an effective hedge and therefore the hedge impact was ran through the balance sheet and not the income statement. Now they determine they were wrong and have to flow the hedge impact in their Income statement. This will only make earnings more volatile as these hedges change based on gas prices.

      Financially, no real impact. From a controls and competence perspective, it shows a breakdown. But what can you expect from a mgmt team that has been destroying shareholder value for years?

    • So if KWK reports earnings next month they should be profitable even more since NG prices are over $1.5 higher than last year?

 
KWK
1.94-0.09(-4.43%)11:18 AMEDT

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