Oil exploration and production company Rosetta Resources Inc (ROSE: Quote), Monday reported fourth-quarter net income of $32.2 million or $0.61 per share, compared to net loss of $1.4 million, or $0.02 per share in the same period last year.
On average, analysts polled by Thomson Reuters expected earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude one-time items.
Fourth quarter earnings were impacted by $0.17 due to higher stock-based compensation expense primarily reflecting increases in the company's share price.
The growth in net income is primarily due to higher realized prices, increased production and a more favorable product mix.
Revenues for the fourth quarter were $136.3 million compared to $89.4 million in the same period last year. Wall Street analysts on a consensus estimated revenues of $127.41 million for the quarter.
by RTT Staff Writer
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