UPDATE: Crew Energy Down 1% As Swings to Loss in Q3 2012, Revenues Miss Estimates; Provides 2012 Guidance
Crew Energy Inc. (CR.TO) reported third quarter 2012 net loss of $17.9 million, or $0.15 per share, compared to consensus estimate of $0.05 per share loss. Revenues were $92.3 million, which is below the $107.31 million analysts' estimate.
In the same period last year, the company had a net income of $12.2 million, or $0.10 per share, on revenues of $114.7 million.
The company forecasts production to average between 28,000 and 29,000 boe per day in 2012, which is consistent with previous guidance.
CR fell by 1% to $7.30 in moving closer to year low $4.88. Volume traded is over 17,000.
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