OKLAHOMA CITY (AP) _ Panhandle Oil and Gas Inc. (PHX) on Thursday reported fiscal third-quarter net income of $4.6 million, after reporting a loss in the same period a year earlier.
The Oklahoma City-based company said it had profit of 28 cents per share. Earnings, adjusted for non-recurring gains, came to 25 cents per share.
The oil and gas company posted revenue of $16.3 million in the period.
Panhandle Oil & Gas shares have declined 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.30, a decline of 40% in the last 12 months.