Tag Archives: revenue

Miller Energy loses $9M despite higher revenue

Miller Energy Resources platform in Cook Inlet, Alaska.

Miller Energy Resources platform in Cook Inlet, Alaska.

Revenues were up, but Miller Energy Resources Inc. lost more than $9 million in the quarter ended July 31, the Knoxville-based oil and natural gas company reported Monday.
Net loss attributable to common stockholders was $9.4 million, or 22 cents per diluted share, for the company’s first quarter of fiscal 2014. That compares to a profit of $200,000 in the same period a year ago.
Revenues for the recently ended quarter rose more than 56 percent to $13 million from $8.4 million in the first fiscal quarter the prior year. Revenues were up on increased production and higher oil prices. Average realized oil prices rose 5 percent to $104.57 per barrel in the first quarter compared with $99.59 in the prior year period.
The revenue increase was off set by a 44 percent increase in costs and direct expenses and  “an increase in interest expense due to higher debt balances and less interest capitalized; and a loss on commodity derivatives,” the company said.
Despite swinging to a first-quarter loss, Miller CEO Scott Boruff gave an upbeat outlook based on increased production.
“We are continuing to see major increases in production in Alaska. In the second half of the first quarter, we brought our RU-2A well online, which has been our highest producing oil well to date. … (Contributing)  $4.1 million to our revenues for the quarter,” Boruff said in a statement.
Progress also is being made on bringing other oil and gas wells into production, Boruff said.
Miller Energy is an oil and natural gas exploration, production and drilling company with operations in Alaska’s Cook Inlet and in Tennessee’s Appalachian Basin.

15 Knox area companies make Inc. 5000

This January, 2010, photo shows Acqua-Chem President and CEO David Gensterblum in his plant where they build water purification units for a variety of applications.

This January, 2010, photo shows Aqua-Chem President and CEO David Gensterblum in his plant where they build water purification units for a variety of applications. Aqua-Chem made the 2013 Inc. 5000 rankings.

Knoxville area companies had another strong showing on this year’s Inc. 5000. Fifteen  area companies made the 2013 list released this week.
The Inc. list ranks the fastest-growing private companies in the country based on percentage revenue growth for the most recent three years.
Digital marketing company Pyxl Inc. was the highest ranked among local companies and the 19th fastest-growing company in Tennessee.
“We believe our growth and success is a testament to our dedicated and hard working team and the partnerships we have built with our incredible clients. With continued innovation and diligence we envision even more growth and expansion in our future,” Pyxl President Josh Phillips said in a news release.
Pyxl, which designs and develops custom websites, web applications and mobile apps, had 299 percent growth in the previous three years with $2.8 million in revenues in 2012.
Local Inc. 5000 companies represent a variety of industries, including advertising, restaurant supply, employee staffing, trucking, digital security, manufacturing and rehabilitation services.
In order of their ranking, the other area companies on the 2013 Inc. 5000 are (unless noted companies are based in Knoxville): KaTom Restaurant Supply, Kodak; M Force Staffing; StaffSource; Best Drivers, Alcoa; Tillman Companies; Strategic Consulting Services, Oak Ridge; Functional Pathways; Sword & Shield Enterprise Security; DesignSensory; Wintellect; BrakeQuip, Alcoa; Aqua-Chem; Securities Services Network and Saratoga Technologies.
More than 80 Tennessee companies made the rankings, including 24 based in East Tennessee.
Click here for the full Inc. 5000 list.

Sea Ray parent reports strong 1Q


Boat sales declined, but Brunswick Corp. still had a strong first quarter.

The parent company of Knoxville-based Sea Ray Boats and Brunswick Boat Group reported earnings from continuing operations of $54.9 million, or 59 cents per diluted share. That was up from $47 million, or 51 cents per diluted share in the first quarter of 2012.

Excluding discontinued operations, the company said it earned 76 cents per diluted share,  an increase of 24 cents from the prior year.

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Analysts expect increased earnings from Regal

twilight_atb_12.jpgGood things are expected from Regal Entertainment Group when the Knoxville-based movie
 theater operator releases its fourth quarter earnings on Thursday.

Analysts are predicting earnings of 20 cents per share, double the 10 cents per share the company reported in the prior-year quarter.

Revenue is expected to be up 14.9 percent from a year ago, reversing results from the previous two quarters when revenues were down from from the year before.

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Analysts expect profit swing from E.W. Scripps

Analysts are looking for media company E.W. Scripps to report a turnaround from a year ago when it releases its third quarter financial statement on Friday.

Scripps, the parent company of the Knoxville News Sentinel and the Memphis Commercial Appeal, is expected to report a profit of about 9 cents per share compared to a loss of 9 cents per share in the third quarter last year.

Revenues are projected to be up about 27 percent to $214 million for the quarter.

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Analysts positive about Scripps Networks 2Q earnings

Analysts are expecting strong second quarter earnings from Scripps Networks Interactive when the Knoxville-based company files its financial report on Thursday.

The lifestyle media company is expected to post a profit of 87 cents a share, compared to 78 cents in the second quarter last year, according to Forbes.

2Q revenue is expected to be around $592 million, up 11 percent from the year-earlier period.

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Forward Air bumps dividend 43 percent


The air cargo business is doing well despite the sluggish economy and that means Forward Air shareholders will get a 42.9 percent dividend bump in September.

The Greeneville, Tenn.-based company said Tuesday its board has approved an increase in the cash dividend to 10 cents per share, up from the current 7 cents a share.

The dividend is payable on Sept. 7 to shareholders of record on Aug. 23.


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Tengasco stock downgraded by TheStreet

Oil and natural gas company Tengasco Inc.’s stock has been downgraded by TheStreet Ratings from buy to hold.

The Knoxville-based company’s weak cash flow overshadows its revenue and profit growth, TheStreet, a digital financial media company, said today.

“The revenue growth came in higher than the industry average of 11.9%. Since the same quarter one year prior, revenues rose by 35.6%. This growth in revenue does not appear to have trickled down to the company’s bottom line, displaying stagnant earnings per share,” TheStreet reported.

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Analysts bearish on Scripps Networks Interactive

Shares of Scripps Networks Interactive have climbed from $43 at the first of the year to about $51 today, not far from their 52-week high.

But analysts have in recent days “become increasingly bearish” on the Knoxville-based lifestyle media company which will report first quarter earnings on Thursday, according to Forbes.com.

Analysts are now expecting earnings of 60 cents per share – down 3.2 percent from a year ago.

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Higher profits expected from Scripps Networks

Analysts are expecting Knoxville-based lifestyle media company Scripps Networks Interactive to report increased fourth quarter profits on Thursday.

scripps2_asb_13138.jpgThe average estimate is net income of 81 cents per share, the Wall Street Cheat Sheet reported earlier this week. That would be an increase from 68 cents a year ago.

Anaylsts also look for a drop in year-over-year revenue for the second straight quarter, according to Forbes.


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