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Cabot Oil & Gas Q2 profit jumps 32%
Thursday July 24, 2008 20:29:00 EDT
(RTTNews) - Natural gas producer Cabot Oil & Gas Corp. (COG) said Thursday after the markets closed that second quarter earnings rose from last year, helped by continued strength in the commodity prices and increased production.
The Houston, Texas-based company reported net income for the second quarter of $54.6 million or $0.55 per share, compared to $41.4 million or $0.43 per share for the year-ago quarter.
Excluding gain on sale of assets, stock compensation and unrealized loss on derivatives, adjusted net income for the second quarter was $69.9 million or $0.71 per share, compared to $41.2 million or $0.42 per share in the prior year quarter.
On average, 16 analysts polled by First Call / Thomson Financial expected the (continued...)
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