SAN ANTONIO (AP) _ Abraxas Petroleum Corp. (AXAS) on Tuesday reported a loss of $5.3 million in its fourth quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 4 cents. Earnings, adjusted for non-recurring costs, were 1 cent per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The energy company posted revenue of $22 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $20.2 million.
For the year, the company reported that its loss narrowed to $96.4 million, or 79 cents per share. Revenue was reported as $56.6 million.
In the final minutes of trading on Tuesday, the company's shares hit $1.57. A year ago, they were trading at $1.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXAS at https://www.zacks.com/ap/AXAS
Keywords: Abraxas Petroleum, Earnings Report