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Approach Resources reports 4Q loss

FORT WORTH, Texas (AP) _ Approach Resources Inc. (AREX) on Thursday reported a loss of $13.5 million in its fourth quarter.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 32 cents. Losses, adjusted for non-recurring costs, were 27 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The oil and gas company posted revenue of $26.5 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $26 million.

For the year, the company reported that its loss narrowed to $52.2 million, or $1.26 per share. Revenue was reported as $90.3 million.

In the final minutes of trading on Thursday, the company's shares hit $2.21. A year ago, they were trading at $1.60.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AREX at https://www.zacks.com/ap/AREX


Keywords: Approach Resources, Earnings Report