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Article: The Meridian Resource Corporation Announces Record 1st Quarter 2000 Financial Results.
- Article from:
- Business Wire
- Article date:
- April 27, 2000
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Business/Energy Editors
HOUSTON--(BUSINESS WIRE)--April 27, 2000
The Meridian Resource Corporation (NYSE:TMR) today announced revenues, earnings and cash flow for the 2000 first quarter period. For the first quarter 2000, the Company reported record net earnings applicable to common shareholders of $9.5 million, or $0.20 per basic share, compared to a net loss of $5.0 million, or $(0.11) per share, during the same period a year ago. Revenues increased 106% to $48.1 million for first quarter of 2000 from $23.3 million for 1999, primarily as a result of improved average prices and an increase in production volumes. During the first quarter of 2000, the ...