FieldPoint Petroleum Corp. (FPP: Quote) reported full-year 2011 net income of $0.6 million or $0.08 per share, down from $0.8 million or $0.10 per share in the previous year.
The company attributed the decline in earnings to a non-cash charge resulting from the impairment of certain oil and gas properties which reduced net income by over $0.5 million.
Revenues for the full year 2011 rose to $7.2 million from $7.0 million the prior year, reflecting increased oil pricing.
Click here to receive FREE breaking news email alerts for fieldpoint petroleum corp. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org