Markets

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.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More