SAN FRANCISCO (Thomson Financial) - Forest Oil Corp. late Monday reported
first-quarter adjusted earnings of $92.7 million, or $1.06 a share, versus $38.4
million, or 62 cents a share, in the prior-year quarter.
The mean estimate of analysts polled by Thomson Reuters was 88 cents a
share.
The company swung to a net loss of $4.73 million, or 5 cents a share, from
net earnings of $6.89 million, or 11 cents a share, a year ago.
Net results for the most recent quarter include net unrealized losses of
$152.1 million due to recording derivative instruments and investments at fair
value and to foreign currency exchange loss, the company said.
Revenue rose to $376.5 million from $182.6 million a year earlier, versus
the mean Street estimate of $355 million.
The stock closed the regular session up 80 cents at $60.58.
Brigid Gaffikin
bg/gm
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