HOUSTON (AP) _ Halcon Resources Corp. (HK) on Tuesday reported fourth-quarter net income of $146.7 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had profit of 93 cents per share. Losses, adjusted for non-recurring gains, were 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The independent energy company posted revenue of $60.3 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $64.9 million.
For the year, the company reported profit of $46 million, or 29 cents per share. Revenue was reported as $226.6 million.
In the final minutes of trading on Tuesday, the company's shares hit $1.39. A year ago, they were trading at $5.45.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HK at https://www.zacks.com/ap/HK