logo
Share SHARE
FONT-SIZE Plus   Neg

Gas Natural FY12 Profit Declines

Gas Natural Inc. (EGAS) Tuesday reported a drop in profit for the fiscal year 2012, due mainly to higher operating expenses.

Net income for the period declined to $5.4 million or $0.66 per share from $5.8 million or $0.92 per share last year.

Net income from the natural gas operations segment increased by $140 thousand, driven primarily by customer growth and colder weather in most of its service territories. This was, however, offset by net losses within the company's marketing and production operations segment due to an impairment charge of $790 thousand.

Fiscal-year 2012 net revenues grew to $99.2 million from $91.5 million last year.

Operating expenses increased to $28.8 million from $25.71 million last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Tractor Supply Co. (TSCO) slipped over 7 percent in the extended hours after the company issued a weak second-quarter guidance and lowered its annual outlook, due to weak sales of its seasonal products. For the second quarter, the company now expects earnings of $1.15 to $1.16 per share... Hard-disk driver maker Seagate Technology plc (STX) late Wednesday said it was cutting 1,600 jobs or about 3% of its global workforce to curb expenses. The company expects to save about $100 million a year, having a favorable impact on cost of revenue and operating expenses by about $48 million and... PepsiCo Inc. (PEP) is bringing back Crystal Pepsi, the colorless soda launched in 1992, a move that the food and beverages giant expects will boost its slowing sales. The 1990s-era clear soda will go on sale in 20-ounce bottles for a limited time at major retailers starting July 7 in Canada and August...
comments powered by Disqus
Follow RTT