NEW YORK (Thomson Financial) - Ultra Petroleum Corp. Tuesday reported
first-quarter earnings of $101.3 million, or 64 cents a share, topping the mean
estimate of analysts polled by Thomson Reuters for a profit of 59 cents a share
in the March period.
Revenue totaled $271.1 million for the three-month period, up from $156.6
million in the year-ago quarter and ahead of the average analysts' view of $240
million.
Production for the first quarter jumped 31% year-over-year to 34.1 billion
cubic feet equivalent, the largest quarterly production level in the company's
history.
The Houston-based oil and gas company also lifted its production outlook for
2008, 2009 and 2010. For 2008, it now sees production of 140-145 bcfe, compared
to a prior projection of 135-140 bcfe.
The stock finished the session at $88.88.
Michael Baron
mb
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