GEOI Releases 10Q - Looks like record earnings .12 versus .07 for this small oil company. No press release yet. Here is the info on consolidated analysis from the 10Q just filed. ( Waiting for the news release )
Consolidated Analysis
Total operating revenues increased $405,000 or 40% and $1,662,000 or 76%, respectively, for the three- and nine-month periods ended September 30, 2000, compared to the same periods in 1999. These increases were due to the higher oil prices previously discussed. Total operating expenses increased $174,000 or 26% and $651,000 or 36% for the three- and nine-month periods of 2000, respectively, compared to the same periods in 1999. These increases were primarily due to increased oil and gas expenses discussed above. Operating income increased to $560,000 and $1,370,000, respectively, for the three- and nine-month periods ended September 30, 2000, compared to an operating income of $328,000 and $359,000 for the same periods in 1999.
After provisions for the non-operating expenses and income taxes, the result of consolidated operations yielded a net income of $484,000 or $.12 per share and $1,165,000 or $.29 per share for the three- and nine- month periods ended September 30, 2000, compared to a net income of $271,000 or $.07 per share and $241,000 or $.06 per share for the same periods in 1999.
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