May. 9 at 1:15 PM
Noble Capital Markets Research Report: InPlay Oil (
$IPOOF) – Revising Estimates Based on Updated Corporate Guidance
First quarter financial results. InPlay Oil reported a first quarter net loss of C
$2.9 million or C
$0.18 per share compared to net income of C
$1.7 million or C
$0.02 per share during the prior year period. This was below our net income estimate of C
$4.2 million or C
$0.15 per share, primarily due to an unrealized loss on derivative contracts of C
$4.6 million and higher-than-expected expenses. Moreover, commodity prices declined slightly during the first quarter, leading to lower revenues of C
$38.4 million compared to our estimate of C
$40.4 million.
Read more: https://www.channelchek.com/news-channel/inplay-oil-ipoof-revising-estimates-based-on-updated-corporate-guidance