Credo Petroleum Corp. (CRED: Quote) Tuesday said its profit for the second quarter grew 342 percent from last year, driven mainly by a 44 percent growth in revenues.
The Denver, Colorado-based company reported a second-quarter net profit of $1.13 million or $0.11 per share, compared to $255 thousand or $0.03 per share last year.
Adjusted income for the quarter rose to $1.24 million or $0.12 per share from $907 thousand or $0.09 per share in the prior-year quarter.
Total revenues for the quarter surged to $5.86 million from $4.07 million in the prior-year quarter.
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by RTT Staff Writer
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