Magnum Hunter Resources Corp. (MHR) said its net loss attributable to common shareholders amounted to $85.4 million, or $0.54 per share during the fourth quarter. Adjusted for non-cash and non-recurring expenses of $94.3 million, net income attributable to common shareholders for the three months ended December 31, 2012, totaled $8.9 million or $0.05 per share. On average, 15 analysts polled by Thomson Reuters expected loss per share of $0.07 for the quarter. Analysts' estimates typically exclude one-time items.
The firm reported a 101% growth in fourth-quarter revenues to $83.7 million, from $41.6 million a year ago, chiefly due to increases in its oil and natural gas production as a result of a combination of acquisitions and increased drilling efforts completed throughout the year in its unconventional resource plays. Analysts estimated revenues of $82.63 million for the quarter.
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