Quicksilver Q3 Earnings Rise - Quick Facts

(RTTNews) - Quicksilver Resources Inc. (KWK) Thursday reported third-quarter earnings which increased, due mainly to higher derivative gains and natural-gas prices that helped offset a decline in production.

Excluding certain items, the company reported a loss which was narrower than what analysts expected.

Net earnings were $23.76 million or $0.13 per share, up from $10.58 million or $0.06 per share a year earlier.

Adjusted loss totaled $12.32 million or $0.07 per share, while six analysts polled by Thomson-Reuters expected, on average, a loss of $0.08 per share. Analysts' estimates typically exclude one-time items.

Production revenue declined to $102.61 million, from $104.55 million last year. Analysts expected revenues of $109.65 million.

Total revenues increased to $163.49 million, from $153.12 million last year, due mainly to higher derivative gains.

Third-quarter production declined to 22.6 Bcfe, from 25.2 Bcfe a year earlier.

For the fourth quarter, the company expects average daily production volume of 238 - 242 MMcfe.