Copano Energy LLC (CPNO: Quote) Wednesday reported a profit for the second quarter compared to loss last year, helped mainly by lower operating expenses.
The Houston, Texas-based company's second-quarter net profit to common units was $12.20 million or $0.14 per share, compared to a net loss of $17.44 million or $0.26 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $317.30 million from $346.06 million in the prior-year quarter. Four analysts had a consensus revenue estimate of $361.83 million for the quarter.
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by RTT Staff Writer
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