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Article: Tradestar resources turns to profitability in 1st quarter.(Public Company Reports)(Tradestar Corp.)(Financial report)
- Article from:
- Arkansas Business
- Article date:
- August 11, 2008
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Tradestar Resources Corp. of Hot Springs reported first-quarter net income of $57,000 compared with a loss of $71,000 for the same period last year.
Revenue for the quarter, which ended June 30, was $141,000, an increase of 47 percent compared with the $92,400 it reported a year ago.
"We are pleased with our results this quarter," said Tom Feimster, president and CEO. "The increase in revenue is due to our increased efficiency and amount of production as well as the prices received for the increased production. We also achieved a $26,000 reduction in lease operating expenses.
"We are looking ahead to expansions in current projects and several ...