|
|
Article: Vintage Petroleum Reports Second Quarter Results, 17 Percent Increase in Production; 2005 Targets Increased.
- Article from:
- Business Wire
- Article date:
- August 3, 2005
CopyrightCOPYRIGHT 2005 Business Wire. 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)
|
TULSA, Okla. -- Vintage Petroleum, Inc. (NYSE:VPI) today announced net income of $57.7 million, or $0.86 per diluted share, in the second quarter of 2005, a 66 percent increase over income from continuing operations of $34.7 million, or $0.53 per diluted share, in the same quarter last year. This substantial increase was driven by a 17 percent increase in production from continuing operations and significantly higher oil and gas prices. Net income for the second quarter of 2004 was $37.4 million, or $0.57 per diluted share, including income from discontinued operations of $2.7 million, or $0.04 per diluted share.
Cash flow, a non-GAAP measure, was $107.1 million ...