Abraxas reports 4Q loss

SAN ANTONIO (AP) _ Abraxas Petroleum Corp. (AXAS) on Tuesday reported a loss of $4.1 million in its fourth quarter.

On a per-share basis, the San Antonio-based company said it had a loss of 2 cents. Earnings, adjusted for non-recurring costs, came to 4 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.

The energy company posted revenue of $29.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $29.7 million.

For the year, the company reported net income of $16 million, or 10 cents per share, swinging to a profit in the period. Revenue was reported as $86.3 million.

In the final minutes of trading on Tuesday, the company's shares hit $2.36. A year ago, they were trading at $1.65.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXAS at https://www.zacks.com/ap/AXAS