GeoResources reports Q4 revenue above expectations
GeoResources, Inc. (Nasdaq:GEOI) shares are rising slightly after the Houston-based oil and gas company reported that it beat fourth-quarter revenue expectations and swung to a quarterly profit. The firm, which provides exploration and drilling services, posted a fourth-quarter profit of $2.1 million, or $0.14 per share, from a loss of $0.4 million, or $0.09 per share, a year earlier. Analysts expected earnings of $0.22 per share. Quarterly revenue soared 431% to $19.1 million from $3.6 million during the year-ago period. Analysts expected $17.7 million in revenue. In afternoon trading, GEOI shares are up 2.75%, or $0.40, at $14.95.
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