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Article: MAYNARD OIL COMPANY ANNOUNCES SECOND QUARTER RESULTS
- Article from:
- PR Newswire
- Article date:
- August 13, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Aug. 13 /PRNewswire/ -- Maynard Oil Company (NASDAQ: MOIL) reported second quarter earnings of $415,904, or 8 cents per share, on revenues of $3,931,267 compared with a net loss of $26,486, on revenues of $3,927,790 for the same period in 1992. Current period earnings improved due to lower lease operating costs, reduced depreciation and amortization expense and higher interest income, net of interest expense, while the 1992 quarter was negatively impacted by the closing of the contract drilling subsidiary.
For the six months ended June 30, 1993, the company earned $2,182,604 or 44 cents per share, on revenues of $7,654,629, compared with a net loss of $819,875, or ...