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W&T posts 4Q profit

HOUSTON (AP) _ W&T Offshore Inc. (WTI) on Wednesday reported fourth-quarter net income of $16.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Houston-based company said it had net income of 12 cents. Earnings, adjusted for non-recurring gains, were 6 cents per share.

The independent oil and gas company posted revenue of $115.2 million in the period.

For the year, the company reported that its loss narrowed to $249 million, or $2.60 per share. Revenue was reported as $400 million.

In the final minutes of trading on Wednesday, the company's shares hit $2.62. A year ago, they were trading at $2.17.


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


Keywords: W&T Offshore, Earnings Report