Cimarex Energy Co. (XEC) Friday released the financial results for the third quarter ended 30 September 2012, reporting net income of $84.3 million or $0.97 per share for the third quarter, down from net income of $128.2 million or $1.49 per share reported for the corresponding quarter last year.
Oil, gas and natural gas liquids, or NGLs, revenue for the quarter declined to $397.4 million from $419.7 million reported in the same quarter a year earlier.
The company attributed to the slight decline in total revenues and cash flow during the third quarter to lower gas and NGL prices, partially offset by higher liquids production.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share on revenues of $394.11 million for the quarter. Analysts' estimates typically exclude special items
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