Tag Archives: revenues

Miller Energy posts $13.1M 4Q loss

Miller Energy Resources platform in Cook Inlet, Alaska.

Miller Energy Resources platform in Cook Inlet, Alaska.

Miller Energy Resources reported today a fourth-quarter loss of $13.1 million, more than half its loss for the full 2013 fiscal year.

The net loss attributable to common stockholders equaled 31 cents diluted share, up from a loss of $8.4 million, or 20 cents per share, in the 2012 fourth-quarter, the Knoxville-based oil and natural gas company said.

Revenues for the quarter ended April 30 tumbled 13 percent to $7.7 million, compared to $8.9 million in the same period the prior year.

The company attributed the 4Q loss to a pump failure knocking one of its wells offline, fluctuating shipping schedules and other reasons.

For fiscal 2013, revenues dropped 2 percent to $34.8 million and the net loss was $25.5 million, or 60 cents per share.

Despite rising loses, CEO Scott Boruff put a positive spin on the Knoxville company’s outlook for the coming months.

“While our revenues remained relatively constant in fiscal 2013 as compared to the prior year, we achieved several operational milestones late in the fiscal year and subsequent to year end,” Boruff said in a news release.” In fiscal 2014, we expect to see a substantial increase in revenues with significant contributions from our newest oil well, RU-2A, and our newest gas wells, RU-3 and RU-4. … Based on current production levels we expect that RU-2A will increase revenue by more than $10 million per quarter and add $8 million per quarter to free cash flow.”

As revenues have declined in recent months, the company has tapped investors for increased funding. Miller has raised more than $32 million in three preferred stock sales this calendar year alone.

Miller has exploration and production operations in Alaska and East Tennessee.


Scripps Networks 2Q earnings beat expectations

The analysts were wrong again.

Scripps Networks Interactive second quarter earnings were better than expected, boosted by double-digit increases in advertising and affiliate fees.

Earnings from continuing operations attributable to Scripps Networks Interactive increased to $142 million, or 93 cents per diluted share, up from $77.4 million,or 78 cents per share in the same period a year ago, the Knoxville-based lifestyle media company said Thursday.

Analysts were expecting 87 cents per share.

Revenues rose 13 percent to $601 million.

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Analysts wrong again — Scripps Networks 1Q revenues, profit up

Scripps Networks Interactive Inc. reported Thursday a first quarter profit of $115 million, or 73 cents per diluted share, compared to net income of $101 million, or 59 cents per share a year ago.

Revenues for the quarter increased 11 percent to $535 million.

The news boosted Scripps shares to a new 52-week high, up more than 5 percent to $53.38 in morning trading.

The Knoxville-based lifestyle media company easily beat analyst expectations on both the top and bottom lines. Analysts expected a dip in revenue and earnings of about 60 cents per share.

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Brunswick beats expectations, profit up 44 pct.

022509searay1_jpg.JPGBrunswick Corp., parent company of Knoxville-based Sea Ray Boats, today reported a first quarter profit of $39.7 million, or 43 cents a share, easily beating analysts expectations.

The company’s earnings represent a 44 percent improvement from a profit of $27.5 million, or 30 cents a share, in the first quarter last year.

Analysts had expected earnings of 37 cents a share, according to Reuters.

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