TransAtlantic Petroleum Jumps 6.5% From Near Year Lows on Preliminary Q1 Earnings, Q4 Earnings and Year End Results

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Shares of TransAtlantic Petroleum ( TAT ) have jumped 6% from near a year low 71 cents after the company released preliminary Q1 2013 earnings. Yesterday, TAT released Q4 2012 and FY 2012 earnings. It expects to file its First Quarter financial results during the week of May 20, 2013.

On its Q1, TAT expects total revenues for Q1 2013 to be between $33.0 million and $37.0 million, as compared to $37.5 million for the Q1 2012.

Net loss for Q1 2013 is expected to be approximately -$2.0 million and net income of approximately $6.0 million, compared to a net loss of $3.6 million for Q1 2012.

Yesterday, TAT announced Q4 2012 total revenues of $38.0 million, as compared to $34.8 million for the quarter ended December 31, 2011.

Net loss from continuing operations for Q4 2012 $13.9 million, as compared to a net loss from continuing operations of $59.0 million for the quarter ended December 31, 2011.

For the year ended December 31, 2012, total revenues were $143.9 million, as compared to total revenues of $128.9 million for the year ended December 31, 2011.

Net income for the year ended December 31, 2012 totaled $16.2 million, as compared to a net loss of $120.9 million for the year ended December 31, 2011.

TAT last traded at $0.790 with a 52-week range of $0.71 to $1.20.



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This article appears in: Investing , Commodities

Referenced Stocks: TAT

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