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Enerplus Edges Lower in TSX, U.S. Despite Reversing Yr-Ago Loss

Enerplus Corporation (ERF.TO) shares were slightly lower by 3 cents at $29.11 on the Toronto Stock Exchange and were down by 14 cents at US$30.10 in the United States despite the company reportedly posting a net profit of $29.5 million in the first quarter, reversing a much bigger loss in the same quarter of 2010.

The oil and gas producer said the earnings amounted to 17 cents per share and compared with last year's loss of $184 million or $1.05 per share. Revenue was not disclosed, but the company said funds flow from operations totaled $161.2 million, compared with $198.2 million last year.

Companies: Enerplus Corporation

Price: US$30.10. Price Change: -0.14. Percent Change: -0.5.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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