InterOil Q1 Profit Jumps - Quick Facts

(RTTNews) - InterOil Corp. (IOC) announced a sharp surge in its first-quarter 2014 net profit to $318.64 million, from $4.0 million last year, mainly due to a one-off $340.5 million gain from the sale of an interest in PRL 15 to Total S.A. of France on March 26, 2014.

Quarterly profit per share jumped to $6.38, from $0.08 reported a year before. On average, 2 analysts polled by Thomson Reuters expected loss per share of $0.02 for the quarter. Analysts' estimates typically exclude one-time items.

Owing to lower sales volumes during the quarter, revenue totaled $311.08 million, down compared with $350.33 million in the year-ago period. The total volume of all products we sold was 1.9 million barrels compared with 2.4 million in Q1 2013, due to the timing of refinery exports.