http://www.thestreet.com:80/feeds/rss/search.html?topicSearch=1122001&titleOverride=Gary%20KrakowSearch Results for: Gary Krakowen-usTue, 09 Nov 2010 16:34:00 ESTTue, 09 Nov 2010 16:34:00 ESThttp://feeds.thestreet.com/~r/tsc/feeds/rss/GaryKrakow/~3/dsPiaPq-Ok0/ngas-resources-reports-third-quarter-2010-financial-results.html<p> Contract Drilling Revenue Increased 19% Announces Review of Strategic Alternatives </P><P> LEXINGTON, Ky., Nov. 9, 2010 (GLOBE NEWSWIRE) -- NGAS Resources (Nasdaq:NGAS) today reported third quarter 2010 total revenue of $11.0 million, compared to $11.2 million for the comparable quarter in 2009. Results for the quarter reflect a 19% increase in contract drilling revenue offset by lower production and higher transportation costs. Oil and gas production revenue was down 10% in the quarter reflecting a 15% production decline partially offset by slightly higher natural gas prices. </P><P> For the quarter, the company reported a net loss of $2.5 million, compared to a net loss of $1.1 million in third quarter 2009.&#xA0;Loss per share was $0.06, compared with a $0.04 loss per share in the same period last year. Third quarter 2009 results were positively impacted by a one-time, pre-tax gain of $3.4 million, or $0.07 per share, on the sale of the Appalachian gas gathering assets.&#xA0;Discretionary cash flow per share was $0.01 in third quarter 2010 compared to $0.14 in the same period last year.&#xA0;(A reconciliation of this non-GAAP measure is provided at the end of this release.) ...</P><P></P><p/><img src="http://feeds.feedburner.com/~r/tsc/feeds/rss/GaryKrakow/~4/dsPiaPq-Ok0" height="1" width="1"/>Tue, 09 Nov 2010 16:34:00 ESThttp://www.thestreet.com/story/10917198/1/ngas-resources-reports-third-quarter-2010-financial-results.htmlhttp://www.thestreet.com/story/10917198/1/ngas-resources-reports-third-quarter-2010-financial-results.html