UPDATE: TransGlobe Up 2% As Grows Earnings, FFO in Q4
TransGlobe Energy Corporation (TGL.TO) reported fourth quarter net income of $32 million, or $0.39 per diluted share, up from last year's $30.5 million, or $0.41 per diluted share. Funds from operations were $46.8 million, or $0.57 per diluted share, an increase from $26.5 million, or $0.35 per diluted share last year.
Revenues for the quarter totaled $173.9 million, better than last year's $109.9 million and the consensus estimate of $93.8 million.
For the year 2013, the company expects funds flow from operations of at least $161 million.
TGL was up nearly 2% to $8.95, trading close to 52-week low $7.51.
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